Money's in the Bank, and Then Some: Everything is Going to be OK (for now)

Posted on December 19, 2008 by Him and tagged employment, finances

A few days ago Her posted about my company not being able to cover payroll.

Since then I have been paid.

I also received a bonus.

Wait, what? Here's what I think happened over the last week.

Our clients have a terrible track record for paying their bills (us) on time. In order to cover that shortfall, small businesses such as the one that I work for used to be able to open up a small business line of credit/loan from a bank.

Well, as we all know, banks aren't really being so cooperative when it comes to lending money these days. As our clients fall further and further behind in their payments, our company has probably had to reach deeply into their own pockets to cover our paychecks. After their reserve was drained, they didn't have any option other than to ask us to be patient.

In comparison to our company in both size and revenue, our clients are GIANTS (hey that rhymes!). I have to wonder if they think that since we're just a piddly little vendor that they can just NOT pay their bills on time, and everything will be okay. We play a pretty crucial role (in my opinion) in our client's business and make them plenty of money, so I would think it would be in their best interest to keep us happy.

All was made good this week as our clients FINALLY paid us. We were notified when the money would be deposited in our accounts. But the bigger surprise was getting a bonus this year - the total amount of it was equally unexpected.

So Christmas wasn't cancelled, we're happy, and Tiny Tim still gets a goose for dinner.

That doesn't mean we've gone and blown our cash on hookers and blow. We're extra skeptical about what the near future will bring us. It seems that my job is pretty safe for now, but polishing the resume is never a bad idea. And to answer a comment from the earlier post, I've already been reimbursed for the classes that I've taken. We're going to continue to make sure that we will be able to come out of this time of uncertainty in good standing.

There is only 1 comment. Give it a friend.

Comments/Trackbacks

Trackback URL: http://www.makelovenotdebt.com/MT/mlnd-trackbacks.cgi/1297

Susy | Dec 20, 2008

I think big companies often don't pay their smaller vendors on time because they like to keep that money in the bank and earn interest on it.

We used to have trouble getting businesses to pay us on time until we instituted a 5% late fee per month, we've never had a late payment since.

Glad to hear you got paid and got a bonus. That'll be a great boost to help get your financial house in even more order in case something happens to either of your jobs.

Reply to this comment




Have you read our Comment Policy?

At Make Love, Not Debt, we encourage reader participation and constructive criticism, however unfavorable your position may be. In order to keep things civil we have a few ground rules.

To facilitate off-blog discussion and combat comment spam, you are required to provide an email address.

Some HTML is allowed in the post. It is limited to the following: a href, strong, em, ul, li, blockquote

For bold please use the tag <strong></strong> and for italics please use <em></em>. For any HTML usage, please remember to close your tags!

Images are not allowed.

Comments with 3 to 4 links will be moderated. Comments with 5 or more links will be marked as spam.

We DO NOT, under any circumstance, tolerate personal attacks, racism, sexism, or spam. Should we see any of the above posted on our blog, we will take one of the following actions:

  1. If your URL seems spammy but your comment is benign, we will delete the link to your URL and keep the full comment.
  2. Outright spammy comments will be junked, never to be seen.
  3. Offensive comments will either be deleted or disemvowelled.

If you are not comfortable with our comment policy, please do not leave a comment.

Live Comment Preview

Your comment says: