"I Have No Idea What I Pay"

1. You have a business
2. Customers pay you in plastic
3. You have no idea what each one is costing you, because you can't read your statement

That's the life of being in business. The only thing worse is "knowing" what you pay because you use Stripe, Square, or PayPal, or you have QuickBooks and they set your rate.

Congratulations. In ALL those cases you are paying through the nose. You need the equation to get your Effective Rate. The effective rate rolls everything into one percentage which makes it a little higher than your actual number but keeps everything on the radar. If you know your effective rate and what it should be, anyone can be a master mathmagician, er... mathematician.

Here it is: (Total Fees) divided by (Total Sales) = Move the decimal right twice to get %.

Example ($600 in fees) divided by ($20k sales) = 0.03, Move decimal twice = 3.0%

Now 3% means you're getting hosed. If you have a Retail business your effective rate should be 2% or less. If you are online, it should be about 2.3% or less.

That my friend is all it takes to beat the system.

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Doing Good Is Good Business

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