Why can't I save money even after paying off my business credit cards?

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dwarfshrimp

New Member
Hey guys. Need genuine advice.
I have my own company. But my expenses are so high.

I had two Amex cards. I was paying 6–10k each month per card.

Now I paid them both off in full. Shouldn’t I be seeing that money in company savings?

I try to monitor it. I do very minimal expenses on material etc.

But every week there’s something to pay. Finances. Different insurances. Covering family members’ bills. Then one-off payments for regos. They cost close to 2k per vehicle.

I just don’t know where to begin o see savings.

Let alone I can’t even pay myself a proper wage. I end up using it because I run low on savings again.
 
Hey bro, I had the same issue for a while. For now, put the Amex aside. I get the benefits with points and cash flow, but you’re technically spending money you haven’t made yet that was a big bottleneck for me.

Try to put all bills into the same week or two week per iod (start of month / end of month).

Only pay for company expenses, like vehicles registered to the company you can’t write off on tax or claim benefits.

As harsh as it sounds, don’t cover your family members’ bills. You have to look after yourself first, grow the business, and make enough. Then you can be doing that, God willing.

Pay yourself a wage, anything will do, 500 1000, as long as the company has money left.

Make yourself stick to that budget. Remember, you work for your company. Just because you own it doesn’t mean you can do as you please and all will be fine.

Hope everything works out for you, God willing!
 
You need a cash flow forecast, mate.

I’d recommend reaching out to someone to help set it up.

It’s not too bad and gives you a really good indication of where your money is.
 
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