After the response to my first blog, you knew it was only a matter of time before I found time to blog again and pretend I know what I’m talking about!
Let’s face it: being in debt sucks! It’s hard enough to start your own business, and it’s even harder when you have to sneak into your own house after midnight so you don’t run into the landlord. And yes there are times when you’d like to treat your family to great meal with all the fixings at some fancy “Burger King”, but you just found out your editor bumped your story about “Where Milk Comes From” out of this week’s issue of your local give-away newspaper. So here are some cheap ass entrepreneur tips for getting debt free!
- “Borrow” instead of buy – The next time you need something, just think of people you know who already have it. Most people have more stuff than they really need, so just help yourself. And don’t forget to offer to help people look for missing items, that way they’ll be less inclined to think you stole from them!
- Sell accounts receivable - In business, this is the money that other people owe you. The idea is you can sell future money at a discount to someone else and have money today. Consider this example: You tell your bouncer friend Butch that last night you and Steve were playing poker and Steve owes you 50 bucks, if Butch gives you 40 today, he can just collect Steve’s 50 bucks next week. Then next week, when Steve is getting his ass handed to him by Butch, (all the while crying he’s doesn’t know anything about a Poker debt), you’ll have 40 bucks to spend!
- Use pretend family members to secure credit – Consider applying for a credit card in your dog’s name, or just use dead relatives! If you don’t have any dead relatives, just pick up your local paper. They publish the names of dead people everyday!
