Comments on: Don’t Mind the Smoke, It’s Just the $2,000 in My Pocket Burning

By: I Love You...Like A Blogger!

I Love You...Like A Blogger! — Sat, 27 Feb 2010 20:16:12 +0000

[...] Out – Don’t Mind the Smoke, It’s Just the $2,000 in My Pocket Burning [...]

By: Jeff

Jeff — Tue, 26 Jan 2010 19:54:55 +0000

I agree with the seperate bank account for the money. I understand your position on debt and how it makes you feel these days. I feel the same.

Now get off your butt and get the project done, then its on to the next big money project and then the next. Soon you’ll be blogging about how you started your own business.

http://www.speedingpassmydebt.com is avaliable

oh, yeah sub contractors are always sitting around out here wink wink

Good luck

By: Money Funk

Money Funk — Sat, 23 Jan 2010 16:22:42 +0000

I like that – think of it as a retainer. That helps ease the issue a bit.

Of course, puts you on the spot to make sure you perform in that contract job adequately.

Me, I think I would just leave it alone in the bank account until job is done. Peace of mind. But it would be so hard not to spend it. LOL. Or you could leave it alone and think of it as part of your EF. That might help.

Psychology and Money – its a funny thing.

By: Forest

Forest — Fri, 22 Jan 2010 17:05:59 +0000

PS….. I was wondering if you could set up email subscribe so I can follow you …. I’ll help you if needed.

By: Forest

Forest — Fri, 22 Jan 2010 17:05:05 +0000

I actually never take pre-payment on jobs for this reason unless forced too…. Best thing is put it aside and get the work done asap but personally I think it’s worth getting the work done. I’m freelance too and sometimes work can dry up quickly, that 2k may come in handy!

By: the Dad

the Dad — Fri, 22 Jan 2010 16:25:23 +0000

You guys are all right on and I appreciate the common sense! Thank you!

By: Tutu

Tutu — Fri, 22 Jan 2010 15:12:51 +0000

I agree with Murf – “KISS” – Keep It Simple. Sweetheart!”. This posting sounded a bit like me, when I “overthink” things. It’s just a WAY OF DOING BUSINESS – when I can put things back in that perspective, I can “climb back out” of the overthinking process. Love your website! Keep it up!

By: Jeffrey Johnson

Jeffrey Johnson — Fri, 22 Jan 2010 05:22:37 +0000

I work in industry where prepayment for work is norm. Its either 100% if do not know person or its 50% if done work for them in past.

I get prepaid often and prepay people often so I would not have problem with it.

By: Murf

Murf — Fri, 22 Jan 2010 02:21:09 +0000

Try to deal with money without all that emotion! He contracted you for a job. Consider this his retainer. Whether you’ve only done 10% or 90% of the job yet is a moot point. Making the deadline with the goods is the deal. He made a smart business move by paying the $2000 in 2009. You make a smart business move by keeping it in that account until the job is done.

By: A.Marie

A.Marie — Wed, 20 Jan 2010 22:52:10 +0000

Good job on setting it aside; and I understand your whole money/friends/loan/relationship interplay….until the job gets finished, this money will kinda be like a loan.

Get the job done and then the money will be yours, free and clear. If you don’t think that the job will get finished in a timely fashion, by all means, give the money back. Explain to your friend what you have blogged about here, and he’ll just have to find another expense to write off for 2009.

Just my humble 2 cents worth!