The 9-Year old

The 9-Year-Old Who Taught Me About Accounts Receivable

When my eldest daughter turned nine, my wife had a great idea—pocket money. Every Friday, I was responsible for handing over $1. Easy, right? Well, that’s what I thought.

What I didn't realise was that my daughter would quickly become an expert at managing accounts receivable. Her formula was simple: Friday + no money = a very unhappy Dad. She kept me accountable week after week, ensuring that dollar was ready. If I didn’t have the right change, I was in for a conversation:

“Dad, where’s my pocket money?” 

“I forgot to go to the bank.” 

“Why didn’t you plan better?”

There was no escaping it. One Friday, I came home, saw her silhouette in the doorway, and realized—no dollar in my pocket! I instantly reversed out of the driveway, rushed to the store, bought something I didn’t need just to get change, and returned home victorious.

It took four weeks for her to train me. After that, I was never late again. At just nine years old, she taught me a key lesson in debt collection: make it very hard to ignore the debtor!