Like bad hair, how long can you afford to let things go? If your fringe stopped you from seeing properly & you nearly had an accident as a result of it getting in the way or distracting you, would do something about it & get it cut!

In terms of your cash flow is it starting to go grey and thinning? Just like my hair!? Perhaps it’s time for a new finance hairstyle. One that will help with the working environment! Bottom line -improve the amount of cash you have, to do what you need to do, when it’s required.

Hairstyles can go out of fashion, but for now perhaps the number 4 is required with a few highlights. Keeping it simple, but works for the foreseeable future until it grows a little and then it can be developed into another style.

Some instances where you may be able to adopt the Number 4 could be:

            Self employed – who have taken on a ‘Lo Doc home loan’ in the last few years. No doubt the debt had been capped to a % of the value of a residential property. That was great before because you didn’t have to provide financial statements and alike. The down side is you are likely to be carrying a lot of ancillary debt on top of this. Like credit cards, car & equipment loans etc etc. All of which drain your cash flow resources.

There are lenders that can role several debts into one. In a lot of instances there will be a requirement for financial statements to be provided however there are others that will consider the situation without profit & loss statements. The end result being that perhaps hundreds or even thousands of $$ can be saved on a monthly basis.

            The structure of your debt may need to be looked at, are there commercial assets that could be structured over longer periods?

            What sort of debtors do you have? Is there an opportunity to have those funds quicker?

            Can you gain discounts for quick payment?

All these sorts of questions need to be asked of you when looking in the financial mirror. Could you need a new finance hairstyle?

What have you got to loose in asking the question? Ask Finance Know how!

Tags: debt structure, debtors, Lo Docs, self employed, small business cash flow