Money Saving Tips From Trainers Assistant

August - Following on from last month's article on debt collection is an idea that I have used several times with clients who have had trouble paying the lump sum balance that they owe. Try to persuade the client to fill in a standing order form (Example), it allows them to pay off a set amount every month. This saves all the reminder calls and I'd rather get the money paid late, than not at all.

July - Cash flow is the life-blood of all businesses, so when clients do not pay their bills, it can directly affect all aspects of running the business effectively.

Many trainers have long term debts in excess of £50,000. Quite regularly a trainer will have clients who cannot or do not pay their bills. Despite the obvious benefits of high profile or high fee clients, unpaid bills can mount up to startling sums. This is bad business for both parties involved and a creditor should not be embarrassed to take action to collect debts. Read more ...

June - Check if any of your suppliers state on their invoices that they offer a discount for prompt payment. Feed merchants such as John Toomers & Sons give a 5% discount if you pay within 30 days - but it is up to you to claim it!

May - When was the last time you made two telephone calls when ordering diesel? The suppliers price is linked to what they paid for it so given the current volatility, the price can vary by as much as 5p per litre. Loyalty to a supplier is fine, provided you know what it's costing you.

April - The first of what will be a monthly series, is a reminder to check everything. Credit card companies and banks do make mistakes and when they do they can be large. Also, if you get an invoice from a small self employed supplier that raises invoices using a spreadsheet or word processor - don't presume the figures add up!