Phuthu Stay Phut, Don't go!

Something I absolutely love about South Africa is the way some cultures, like the Indians, care for their older generations like parents and grandparents – they see it as pay-back time. Today the idea is quite foreign as most of us prefer an independent, comfortable life. It would be great if we could start doing life this way. Yes, it will be challenging. Yes, it will be frustrating at times. But it will be so rewarding. If the older generation is financially free to live in a well established retirement village, that is great. Life does unfortunately not always go according to our script and where parents or grandparents are in need, I think we should adapt our lives in such a way that we can include them in our lives, whether it is making room for them in our house for a period of time or building a garden cottage. Even if it means sacrificing the things we want – you just can’t put a price on basic human needs such as belonging to a family and being loved and cared for.

All a bit mushy, I know. But true.

By Elzet Pedersen

Cash flow is crucial to the running of a business and so it’s important that clients settle their invoices on time. If some of your customers are slow payers and you’re battling with your cash flow, then it’s time to take a look at the information you include on your invoices. Do your invoices encourage payment, are they specific? For example, an invoice that says: “payment due by 7^th August 2009″ or “payment due in 30 days” is much better than saying “invoice payable upon receipt”. The latter is equivalent to saying “pay me when you’re ready”.

Some invoices also specify the aging of the account with little boxes saying “current”, “30 days”, “60 days”, “90 days”. Including this on the invoice can have a negative outcome as it lets your clients know that you are willing to serve as a creditor. It does however let clients know how overdue the account is and this may trigger payment from a few forgetful clients.

So be specific and eliminate any possibility of misunderstanding. This will help to get your cash flow back on track and money into your account!

Answer to yesterdays Saffa quiz: A homeless person.