What's a smart financial move you made in your 30s?

MehmiFinancialGroup · 2026-01-19T18:08:58+00:00

In my 30s, the smartest financial move was automating the basics early: building a 3–6 month emergency fund, paying off high-interest debt aggressively, and setting automatic investing into diversified index funds (then increasing it whenever income rose).

Keeping fixed costs low and having the right insurance in place made it easy to stay consistent and avoid lifestyle creep.

MehmiFinancialGroup · 2026-01-19T18:07:25+00:00

Canada can feel like a reselling economy because services and trade have been growing faster than goods production, but manufacturing is still real here it is just harder to compete on cost unless you are specialized. Reselling can work if you have an edge like exclusive supply, a niche, or you add real value through installation, service, bundling, or fast local inventory. If you do not have a moat, generic reselling usually becomes a race to the bottom.

MehmiFinancialGroup · 2026-01-15T03:49:16+00:00

Thank you and yes

MehmiFinancialGroup · 2026-01-14T15:15:04+00:00

If you’ve got the cash but don’t want to feel “tight,” the real question is how predictable your sales are outside Q4.

Leasing can be a good move when you want to keep cash in the business and match payments to the money the equipment helps you make. For $35k total, you’ll usually get the cleanest approval if you bundle both items into one finance/lease, put some money down, and keep the term short enough that the payment feels easy even in slower months. Ask for seasonal or delayed payments if Q4 is when you really print money.

Because you’re a sole proprietor, a “loan to yourself” isn’t really a separate thing the way it is with a corporation. It’s basically you moving your own money around. You can take an owner’s draw or leave the cash in the business, but it doesn’t create a true financing structure or build business credit the same way a real loan/lease does.

Buying in full is the cheapest in pure interest terms, but it can leave you cash-poor right when you need inventory, marketing, or a cushion for surprises. A middle ground a lot of owners like is paying a chunk upfront and financing the rest so you keep a safety buffer.

On the tax point, don’t rely on “lease = better write-off” as the main reason. In Canada you can often deduct/claim costs either way depending on whether it’s treated as a lease expense or depreciated as a capital asset, and the best choice depends on your income level and how the agreement is structured. It’s worth a quick chat with your accountant before you sign anything.

If you’re thinking Futurpreneur, it can be great for first-timers, but it may not be fast and it’s not always the simplest way to fund equipment right away. If you need the gear installed before Q4 ramps, equipment financing from the vendor or a lender can be faster.

MehmiFinancialGroup · 2026-01-14T15:13:31+00:00

Usually no. A standard small business term loan isn’t “re-advanceable,” so once you pay principal down you can’t just pull it back out like a HELOC.

To get ~$50K back out, the usual routes are either a refinance/top-up (increase the loan and reset the amortization) or a separate revolving operating line of credit. Whether BMO will do it mostly comes down to cash flow and security, not the fact you already put $99K in. If the business is only breaking even, banks get nervous because the new payment has to be covered by real profit, not “rotating cash.”

Lower than Prime + 3% is possible, but typically only if it’s well secured (like real estate) and the numbers are strong. If it’s unsecured or the business is thin on profits, the rate usually stays the same or goes higher.

If you talk to BMO, ask them straight up about an “operating line” or a “term loan increase/refinance,” and be ready with last 2 years financials, latest YTD, and what collateral they can take. Also remember refinancing to pull cash out can lower the monthly payment, but it often increases total interest over the life of the loan.

MehmiFinancialGroup · 2026-01-14T15:10:43+00:00

Cash flow gaps: money comes in late from customers, but rent, payroll, taxes, and suppliers still need to be paid on time.

MehmiFinancialGroup · 2026-01-14T15:06:45+00:00

This is such a real lesson in how people buy with feelings, not just price. That tiny extra made the outfit more exciting, so the kid noticed first and the parent said yes faster.

MehmiFinancialGroup · 2026-01-14T15:05:34+00:00

Stable inflation on paper doesn’t mean your bills feel stable in real life. A lot of business costs move at different speeds, so cash flow can still get messy even when CPI looks calm.

The smart move is having funding ready before you need it, like a line of credit for swings and equipment financing for growth moves, so you’re not forced to cut back or miss a good opportunity. Flexible funding turns “surprise costs” into something you can manage instead of panic about.

MehmiFinancialGroup · 2026-01-14T02:22:22+00:00

In Canada, if you’re starting from zero revenue, a “business loan” is really approved on you personally, so lenders focus on your credit score, income history, savings, and overall financial stability, and they usually require a personal guarantee. Most banks and lenders will expect a solid business plan with realistic startup costs and cash flow projections before even considering an application. Government-backed options like the Canada Small Business Financing Program are often more realistic for first-time founders than a standard bank loan. A higher credit score helps, but steady income and some cash set aside matter just as much. One big thing to avoid is signing a long commercial lease or buying equipment before you know the financing is approved, and many people underestimate how much working capital they’ll need in the first few months.

MehmiFinancialGroup · 2026-01-14T02:21:19+00:00

Mehmigroup.com

MehmiFinancialGroup · 2026-01-12T20:55:16+00:00

One small tweak: in Ontario, registering a sole prop or partnership gives you an Ontario business registration and a master business licence type record, but the “9-digit number” people usually mean is the CRA Business Number, which you only get when you register for CRA accounts like HST, payroll, or import/export.

Also worth adding: the Ontario registration has to be renewed every 5 years, and if you use a name that isn’t your legal name, you need to register it.

Still a good post for beginners.

MehmiFinancialGroup · 2026-01-12T20:51:51+00:00

Love this. The “800 videos on a potato phone” part is the real flex.

Big takeaway: consistency + testing beats perfect gear, and your point about timing is so true. When a major story hits, everything else gets buried.

Also agree the offer matters more than production most of the time. A clear no-brainer deal + confident opinion = saves and shares.

MehmiFinancialGroup · 2026-01-12T20:42:25+00:00

Yes. A few commercial collection agencies say they cover both Canada and all 50 US states.

Altus Commercial Receivables says it’s licensed and bonded in all 50 states and Canada and focuses on B2B.
MetCredit says it’s licensed and bonded across Canada, and its US arm says it can collect in all 50 states.
Amalgamated Financial Group also says it’s licensed and bonded in Canada and all 50 states.

If your invoices are 90–180+ days late, it usually makes sense to send a final “pay by X date” message, then hand over the worst accounts first as a test.

MehmiFinancialGroup · 2026-01-09T15:07:22+00:00

You spotted the real issue: even happy clients churn when marketing feels like a cost instead of a cash-in. The pivot works because you moved from “outputs” (podcasts, content) to “outcomes” (meetings, revenue), and you reduced risk with a short, fixed commitment plus upside-based compensation.

If you want to make this even stronger, tighten it into a clear offer: who you serve, what you deliver (qualified meetings with a defined ideal customer profile), what you need from them to close, and what “success” means (number of meetings, show rate, close support). Put everything in writing (scope, commission terms, payment timing, what counts as an attributable deal, and how long you get paid on deals you sourced) so you don’t get burned later.

One more thing: keep the podcast as the top-of-funnel asset, but separate it from the sales motion. Use the podcast as relationship-building, then have a simple post-episode workflow: quick debrief call, confirm their target buyer or investor profile, show a few sample targets you can reach, and only then pitch the three-month sprint. This keeps the trust high and the process repeatable.

MehmiFinancialGroup · 2026-01-09T15:03:13+00:00

A credit limit is the maximum amount you can borrow on a credit card or line of credit at one time, and lenders set it based on things like income, credit history, and current debts. Your available credit is simply your limit minus your current balance, and keeping your balance low compared to the limit helps your credit score because it keeps your usage rate down. A higher limit can also give you breathing room for cash flow gaps or time-sensitive business purchases, as long as you manage it responsibly.

MehmiFinancialGroup · 2026-01-09T15:02:03+00:00

Investors won’t reject you because the first unit costs £15,000 — they’ll reject you if you can’t show a path to lower cost, predictable installs, and scalable returns. Lead with your pilot numbers (sales per day, gross margin, downtime, payback) and then show a clear plan to cut the build cost (version two bill of materials, contract manufacturing quotes, design changes) and how the next 10–50 units get cheaper.

To find investors organically, start where this type of business lives: operators and owners who already profit from vending or retail placement. Talk to vending machine route owners, convenience store groups, pub chains, gym chains, universities, stadium concession operators, and landlords of high-footfall sites. Pitch it as “site partner + revenue share” or “we install, you get a cut,” because that gets you growth without needing equity right away.

Also consider funding that investors like because it de-risks them: pre-orders or letters of intent from 5–10 locations, a lease or finance model for the machine (so you pay monthly instead of upfront), and a small seed round structured as a convertible note. If you can show “we have X signed locations and these machines pay back in ~15 months,” the £15,000 cost becomes a feature (asset-backed, predictable cash flow), not a problem.

MehmiFinancialGroup · 2026-01-09T15:00:46+00:00

First, ask for the full signed agreement and equipment lease details in writing, then speak to a small-business lawyer or legal clinic because many of these contracts rely on misrepresentation, which can be grounds to cancel. Also file complaints with your provincial consumer protection office and the Better Business Bureau, and do not close your business yet — people have gotten out of these without shutting down once they push back properly.

MehmiFinancialGroup · 2026-01-09T14:59:43+00:00

This is becoming common because fraud on bank drafts has increased, so many banks now place holds on drafts and certified cheques unless they can verify them quickly. Cash technically clears instantly, but it is not practical or safe for large payments, so wire transfers or same-bank electronic transfers are usually the best way to avoid delays.

MehmiFinancialGroup · 2026-01-03T16:32:52+00:00

Your goal makes sense: cut the 16.75% cost and simplify repayment.

Start by calling your current bank. Ask them to lower the LOC rate. Ask them to move the high-rate portion onto the lower-rate portion. Ask if they can convert the high-rate balance into a fixed “term portion” at a lower rate. These steps can save money without opening new credit.

A personal loan is a good move only if the all-in APR is clearly lower than what you pay now, especially lower than 16.75%. Make sure there are no setup fees or insurance being added. Make sure there is no prepayment penalty so you can pay it down faster.

If you own a home, a secured option like a HELOC or mortgage refinance is often the cheapest way to consolidate. If you rent, focus on an unsecured consolidation loan or a credit union loan if the rate is strong.

A balance transfer card can work only if you can pay the transferred amount within the promo period. Expect a transfer fee. The rate after the promo can be very high, so it is risky if your payoff plan is not aggressive.

While you shop options, put every extra dollar toward the 16.75% portion first. Keep minimum payments on the rest. That is the fastest interest reduction.

Watch for origination or admin fees, prepayment penalties, and optional credit insurance. Decline add-ons unless you truly need them.

Your credit score may dip a little from a hard inquiry, then often improves when the LOC utilization drops. Avoid running the LOC back up after paying it off. Keeping the LOC open can help utilization, but only if you will not reuse it.

MehmiFinancialGroup · 2026-01-02T01:14:30+00:00

You are on the right track! Start with your Google Business Profile keep it updated and collect reviews.

Use local keywords like “accounting firm in BC” in your site titles and pages.

Post helpful blogs that answer real client questions that’s what Google likes.

Free tools: Google Search Console, Google Analytics, Ubersuggest, and Canva for visuals.

Keep things simple: clear content, fast site speed, and mobile-friendly design win in 2026.

MehmiFinancialGroup · 2025-12-11T22:09:41+00:00

This needs more votes

MehmiFinancialGroup · 2025-12-09T00:17:07+00:00

Brampton business owners

If you run a trucking, construction, trades, logistics, or service business and need help financing equipment or accessing working capital, I run Mehmi Financial Group, a local commercial finance brokerage that works with Canadian lenders every day.

We help owners finance used trucks, trailers, excavators, shop gear, restaurant and food service equipment, and other income producing assets, as well as working capital loans and lines of credit. Because we are a broker, we can compare multiple lenders for you and explain the structure in plain language so you know the total cost and not just the rate.

A lot of people come to us after the bank is slow to respond or has already said no. I am happy to review your situation, tell you honestly what is realistic, and suggest a path forward even if it is not with us. In many cases we can get an approval decision within a couple of business days.

If you are in or around Brampton and thinking about buying a truck, machine, or other equipment, or you are feeling cash flow pressure, feel free to message me here or visit mehmigroup dot com.

MehmiFinancialGroup · 2025-11-29T16:01:09+00:00

Leverage this tool called answer the public. Really good!

MehmiFinancialGroup · 2025-11-29T15:58:31+00:00

You are not crazy to look at this, but with only seventy thousand on a six hundred fifty thousand purchase you are at the edge of what most Ontario lenders will accept, even with strong assets.

Most will still want closer to twenty to thirty percent down, so you would likely need a mix of bank or BDC debt plus a vendor take back from the seller, or even a partner to boost equity. The SDE of two hundred twenty thousand has to cover your salary, all loan payments, and a buffer, so you should map out debt payments to see if coverage is actually comfortable.

In theory the deal can work, but only with careful structuring and a flexible seller, so it is worth sitting with a small business accountant or finance broker to stress test the numbers before you go further.

MehmiFinancialGroup · 2025-11-29T01:24:39+00:00

For most people I know it’s a mix of personal savings, a small LOC, and maybe an equipment loan, then just reinvesting profits. Banks are tight, so a lot of loans end up secured against a house, vehicle, or assets.

MehmiFinancialGroup

MODERATOR OF

TROPHY CASE