Thinking about how I used to be too nice about overdue accounts

I remember starting out and just sending bills without any follow-up plan... if someone didn't pay, I'd shrug and figure they'd get to it eventually. It meant some payments took months, and I was always short on cash for supplies. After a really slow season, I decided to stop that and put a late fee rule in my terms. Now, I send a polite reminder email a week after the due date, and add a fee if it's over 30 days late. The first client I charged the fee to actually apologized and paid the same day... my income is way more steady now. I don't have to play the guessing game with my budget anymore.

3 comments

3 Comments

valcampbell4d ago

Clear rules from day one make all the difference, don't they? I started adding late fees to my contracts and now payments come in like clockwork.

kim2684d ago

How much do you charge?

oliviajenkins4d ago

Last Tuesday, @kim268, I paid $50 for a coffee in Manhattan, no joke.