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View Full Version : Safety net- the rainy day fund.


Steve
04-22-2009, 07:53 PM
Do you save for a rainy day? What % of an income do you feel should be saved for a rainy day fund and how much should a lawn care business owner strive to have in that fund?

I have heard advice of 2 months income all the way to 1 year's income but what do you think is realistic?

swstout
04-22-2009, 08:15 PM
Do you save for a rainy day? What % of an income do you feel should be saved for a rainy day fund and how much should a lawn care business owner strive to have in that fund?

I have heard advice of 2 months income all the way to 1 year's income but what do you think is realistic?

I don't have a specific amount for rainy days. I pay myself a salary which covers my regular bills so there should always be money in the bank.

I do try to schedule certain jobs for rainy days. For my 'All Natural Insect Control' for rain days. I charge $30.00 for dry application and $20.00 for wet applications. On dry applications (when the soil is dry) I have to water the lawn before applying. When it"s raining I don't have to saving a couple of hours. The customers say, "Do it in the rain, if it saves me money"! Looking at the recent post abour spraying, maybe Magic Garden is another rain day product.

Steve