Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at and watch for our response on an upcoming episode! Cash flow and Cash on hand are two vital keys to navigating these turbulent times. Today on the Ask The Money Nerd Segment of the Wealth Labs Podcast, Amanda and I go through one of our Wealth Factory client’s current situation and give him recommendations on navigating the obstacles he is facing with cash on hand and cash flow.
Time Stamps:
1:28 – Thoughts on applying to for an SBA loan in these tough times
2:30 – Why you should try and get cash before you need it
4:10 – Is it worth apply for one of these SBA loans given that it will require a hard inquiry and potentially damage your credit score?
5:30 – Is it worth drawing cash from a line of credit in case my lender chooses to reduce the amount that I have access to in the future?
8:10 – Is it worth using a credit card to float cash for a month’s time?
9:00 – We have a damaged roof that is starting to cause damage on the inside of the house, I am considering doing 6 month finance option with Paypal then transferring it to a credit card. However, I am concerned with getting about a 30% utilization rate.
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Garrett is the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.
He is the Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and is a contributor for Forbes. Garrett is a frequent speaker at workshops and conferences. He lives in Salt Lake City.
Garrett has also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!
If you want to build sustainable wealth, increase your monthly cash flow and enjoy economic independence without using budgets, cutbacks, limiting your lifestyle or adding new customers to your business, then Garrett & the Wealth Factory team can help provide the tools and training you need to build the life you love.
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This video is about Navigating Your Cash Management in a CRISIS / Ask The Money Nerds
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