How much money do you have in the bank?

20K in a bank is minimum. I just flushed down the toilet close to 8K to a towing company, who I allowed to work on the truck in their shop. I ended up towing the truck over 400 miles and the let real shop to fix the problem - additional 2K. Another 2K I had to spent on rentals and getting the job done. There are credit cards but....you don't wanna go there besides they would not accept it.

 

Mom needed a new double wide.

 

It’s easy if you team with the wife and drive a 2001 Ford Escape.

 

It is not a good idea to keep too much cash on business account either, unless it is needed for heavier cash flow - having employees and such. In case of some liabilities, the greedy vultures will smell the money right away. Better to transfer overage to personal or reinvest.

 

Most of your money should be invested and not laying fallow in the bank.

 

I feel for you. For a short three months I worked for a towing outfit. In that time I really learned how hard they put the screw to people in need while having an unparalleled level of complete incompetence.

The place I worked had two big trucks with tilt deck trailers used to move United Rental junk. There were two CDL holders for those trucks: me and another guy.

The "tow" operation had four roll backs with air brakes and four kids with no CDL or air endorsement. The turn over was extreme. Anyone who had a semi-clean DMV record could walk in and get hired. They'd quit after getting the next to nothing checks or destroying someone's vehicle because they had almost no training.

The scary part about the tow op was that they hauled hot shot steel loads early in the mornings out of an Alro warehouse.

If you ever see a wonky load of steel on a roll back on I-40/I-85 in NC, get out of the way.

The "truck repair" part of the operation was the owner's brother who had no formal training working on big trucks. He had two bays and some tools and I cringed every time some poor driver ended up in his bay.

 

Checking Acct: $58.42
Savings Acct : Potato

 

More than me.

 

That's about right.

Bank is strictly for paying bills. It has enough in there to autodraft for the month. No more than that. Never.

Everything else is cash that comes out of there once a month. What I end up with each month left over goes into a safe.

 

I got $2.32 in the bank.