Cashflow crisis

delaval

There is a lot of talk about cattle dying of hunger, cattle being shot but I believe this is a cash/credit crisis.

If anyone has any tips please use this thread to post suggestions

I would suggest talking to your main creditors and letting them know your position and when they could expect payment

Perhaps you could pay part of a bill and maybe give a few post dated cheques. The one thing that scares creditors is when we don't answer the phone

bob charles

delaval wrote: »

There is a lot of talk about cattle dying of hunger, cattle being shot but I believe this is a cash/credit crisis.

If anyone has any tips please use this thread to post suggestions

I would suggest talking to your main creditors and letting them know your position and when they could expect payment

Perhaps you could pay part of a bill and maybe give a few post dated cheques. The one thing that scares creditors is when we don't answer the phone

phone rang today and it was the 01 area code, first thing I taught of was head office on the other end and that's my goose cooked. thankfully it was a very helpful gentleman about another issue.

Then this came into my head about current cash-flow, and how much easier life would be with little


I WILL arise and go now, and go to Innisfree,
And a small cabin build there, of clay and wattles made;
Nine bean rows will I have there, a hive for the honey bee,
And live alone in the bee-loud glade.

And I shall have some peace there, for peace comes dropping slow, 5
Dropping from the veils of the morning to where the cricket sings;
There midnight's all a glimmer, and noon a purple glow,
And evening full of the linnet's wings.

I will arise and go now, for always night and day
I hear lake water lapping with low sounds by the shore;
While I stand on the roadway, or on the pavements gray,
I hear it in the deep heart's core.

whelan1

delaval wrote: »

There is a lot of talk about cattle dying of hunger, cattle being shot but I believe this is a cash/credit crisis.

If anyone has any tips please use this thread to post suggestions

I would suggest talking to your main creditors and letting them know your position and when they could expect payment

Perhaps you could pay part of a bill and maybe give a few post dated cheques. The one thing that scares creditors is when we don't answer the phone

post dated cheques are a pet hate of mine, as they are not worth the paper they are written on and have the experience of them being presented before the date you put on them......its illegal to post date a cheque!

delaval

whelan1 wrote: »

post dated cheques are a pet hate of mine, as they are not worth the paper they are written on and have the experience of them being presented before the date you put on them......its illegal to post date a cheque!

Depends on who you give the cheque to. They will only do it once. No ideqa about legality but we are looking for solutions here

whelan1

delaval wrote: »

Depends on who you give the cheque to. They will only do it once. No ideqa about legality but we are looking for solutions here

have been stung before, had told them not to present it they did... dont deal with them anymore, when i complained they said its illegal to post date a cheque.... so this is not a solution.....might be as good as saying another mass

whelan1

try and keep all your borrowings with the one institution and be up front with them, if you have an overdraft due to be reapid, let them know it wont be and make arrangements, each person should know their own situation. I check my internet banking every morning, have a list of the cheques ihave written and mark them off as they come out, so you have no surprises... you can only write cheques for what you have in you account..............

dzer2

whelan1 wrote: »

try and keep all your borrowings with the one institution and be up front with them, if you have an overdraft due to be reapid, let them know it wont be and make arrangements, each person should know their own situation. I check my internet banking every morning, have a list of the cheques ihave written and mark them off as they come out, so you have no surprises... you can only write cheques for what you have in you account..............

Very good advice needed to extend my overdraft in feb got it done no problem only thing is after the last 4 weeks need to do it again not looking forward to this meeting.

F.D

I suppose in an ideal world if we were filling out a budget for the year with all the usual ins and outs it would leave you with only surprises eg the feed shortage/ long winter to worry about, where as if your not in control of anything the pressure would be huge as each bill coming through the door is another shock,
We would be guilty of trying to hold stock to the bitter end and i often question myself if i should sell a few to generate cash flow in the spring even if its not top dollar
As a rule we always pay the merchant something every month this time of year it might not clear the bill but its chipping away at it and also its keeping him happy
but i do understand he's not the bank either so its not exactly fair, you can't go to tesco and put your weekly shop on the tick for 6 months

PMU

I find that paying the merchants a bit every month is the best way to keepin control of the finances. also i pay the contractor 4 times a year. this year I intend to buy extra bales and will pay a deposit when booking them. i can do that becuse i get a milk cheque,I dont know how the drystock men will manage this year especially if we get a wet one!

Muckit

delaval wrote: »

There is a lot of talk about cattle dying of hunger, cattle being shot but I believe this is a cash/credit crisis.

If anyone has any tips please use this thread to post suggestions

The best 'tip' that lads will get has been dealt by the man above. I just hope it registers with lads.

bob charles

whelan1 wrote: »

you can only write cheques for what you have in you account..............

or whats due into the account:rolleyes:

whelan1

bob charles wrote: »

or whats due into the account:rolleyes:

always wait til its in

whelan1

other thing i do is write down exactly what i owe and what i realistically can afford to pay that month, as the bills come in i write them in my diary, great satisfaction of putting a line through a debt:o priorty payments are bank loans and esb after they are paid i can relax

bob charles

whelan1 wrote: »

other thing i do is write down exactly what i owe and what i realistically can afford to pay that month, as the bills come in i write them in my diary, great satisfaction of putting a line through a debt:o priorty payments are bank loans and esb after they are paid i can relax

I would be the opposite, priority payment is cattle, feed and fert merchants, banks can wait if needs be, sure they are full of money:D actually they're probably more skint than myself

blue5000

I sold a few cattle last week, cattle were light, price was back a lot compared to last year. But now that there is some money 'resting' in my account I feel a lot better. Some of the pressure is off.

whelan1

have a lad coming tomorrow to buy some culls , less mouths to feed....sold 3 angus bulls today, one lad bought 2

sh1tstirrer

whelan1 wrote: »

have a lad coming tomorrow to buy some culls , less mouths to feed....sold 3 angus bulls today, one lad bought 2

how mush are the Angus bulls making?

Muckit

'price on inspection'

simx

blue5000 wrote: »

I sold a few cattle last week, cattle were light, price was back a lot compared to last year. But now that there is some money 'resting' in my account I feel a lot better. Some of the pressure is off.

Where was that blue? Tipperary?