freaking out right now....

[craazy22]

Well as you all know right now, economy is a b*tch right now. Well, I'm getting to the point where being self employed is no longer an option. Things are geting pretty tight right now and the wife already gave that comment no man wants to hear. "well baby, we might have to sell your trucks to meet payroll" I'm so freaking out right now and hope my business goes back up real soon.
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[broey]

It's just a truck. Happy wife, happy life!

[craazy22]

True, but I have too much money invested in these trucks.. She thinks that im getting every penny back when I sell them.
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[notrailerqueens]

what kinda buisness are you runnin? im here local maybe i could help get some word out for you and bring in some work for yah.
id hate for you to have sell your trucks cuz of our bad economy

[babyJay]

Originally Posted by craazy22

True, but I have too much money invested in these trucks.. She thinks that im getting every penny back when I sell them.
Posted via Mobile Device

In this economy and gas prices where they are, you can hang that up. What's she smokin'?

[lilpoindexter]

Keep the truck, dump the wife.

[BigBlocksRule]

Originally Posted by lilpoindexter

Keep the truck, dump the wife.

They're a damn site more expensive to maintain than any truck...

I was self unemployed for 22 years. There are NO tax laws written to help the small business, period. I finally got tired of the worry, too much month at the end of the money, etc. and got a full time job with bennies and retirement. I miss setting my own schedule, but that's about it.

[71Sixer]

^^haha, this would be a tough decision truck or wife!! Hang in there and hope things turn for the better and most importantly keep on truckin!

[leddzepp]

Originally Posted by lilpoindexter

Keep the truck, dump the wife.

That will bring on bigger expenses.

[Restrorob]

Originally Posted by lilpoindexter

Keep the truck, dump the wife.

Exactly what I did back in '86....

[motornut]

Originally Posted by lilpoindexter

Keep the truck, dump the wife.

hope she can't run a sawsall
lol half of everything could really hurt

[craazy22]

Thanks guys for the support and ideas, I am a locksmith and I have a locksmith business but customers are taking forever to pay. So its kind of hard stayin afloat with money going out but no money coming in. And your right about the "self unemployed" deal, I am getting tired of stress to pay my other techs and sometimes staying with almost no money for me and the fam. Its funny you say that about a regular job. One of my customers ofered me a position with good benefits at the hospital but I will be taking a 50% paycut to what I get now. I can't go from 6 digit income to 55k a year. Thbats scary.
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[78 Chevyrado]

Just start getting liens all over the place, and if you unlock cars and the people don't pay or are dicks, just lock their car back and go on your way...ha

[BigBlocksRule]

I took a 50% pay cut, too. After I calculated self-employment tax, cost of health insurance, my contributions to a 401K, etc., it was more like about 20%. One other thing that folks don't think about is what happens when you're on vacation. While a full-time employee with benefits continues to make money while on vacation, the self-unemployed are not only spending money to have fun, they're making nothing.
For me at 40+ years old, the decision was easier. I'm halfway to being qualified for retirement, plus I still get to do my old job after hours and on weekends. Being a locksmith, that should be an option for you...unless you go to work for another locksmith who prohibits moonlighting.
I hated the stress of not knowing whether I'd have enough to pay bills every month, sure don't miss that!

[craazy22]

Bigblockrule, I think I'm crawling up the same trail right now. I am getting a little tired of not knowing how the week or month will end. The only problem is that I have the life style of a 6 digit income right now, so I will somehow need to payoff all my notes before I can take a paycut right now. I still consider my self blessed that I am still very bussy, but what good is it if checks don't roll in. I have big ccounts like memorial hermann hospitals, bbva compass banks, hpd building in downtown, capital one banks, and texas children hospital. Just to name a few of my solid accounts, but combined with al those accounts, I think they are about 48k behind on late invoices over net 30. If they could pay on time I will be perfect, but its worst than politics to get to them big dogs at the corporate offices to pay up faster. Yeah, you can say if stressed out right now.
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[BB72CHEVKT]

I am sorry if this comes off the wrong way but I have a hard time feeling sorry for you when it sounds like you are over extended.

[jitteryguy]

over sea's job's ! six figures, save some money from not be'n home for a year or two.

[cdowns]

i've never found a need for but one good truck

[BlackTopMotors]

It'll work out and you will come to the right decision.

[BigBlocksRule]

Originally Posted by cdowns

i've never found a need for but one good truck

Who said anything about need? I WANT a friggin' fleet, every one built by me.

[motornut]

Originally Posted by BigBlocksRule

Who said anything about need? I WANT a friggin' fleet, every one built by me.

Check
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[cable666guy]

If you're not worried about losing those big accounts, it might be worth while to have your lawyer drop a letter on them...Yeah, self employment really started to suck when the economy tanked ( and the diesel started skyrocketing!!). Hang in there, dude, it will all work out one way or another!!

[Psycho71]

Sounds like you need to bone up on Tx lien laws. All of those big corporations will write those checks when they start getting letters of intent. Those letters go way higher than accounts payable, and generally spur some action to get them resolved pretty dang quick. Let the customers know that the letters are coming, it's nothing personal, just strictly a business decision, and you can't afford to be financing the operation of their business. There are lots of hoops to jump through to file a legal lien, but most of the time a letter of intent will have the desired affect. Like I said, it goes out to the owners & property owners if the property is leased. Accounts payable will have to answer to people up the ladder and they don't like having to do that.

Aside from that, get ready to scale back on things you see as necessities in life. After you do, you'll discover they aren't really necessary after all. Does the wife work? Maybe it's time she seek some employment to maintain the lifestyle you BOTH enjoy. We've had to make some tough decisions around our house in the recent past. And looking back now, none of them should have been that hard to make all along. Shoot, cut out bottled water and trips to Starbucks, and you can afford to start smoking!