EASY WAYS TO BUDGET WITH AN UNPREDICTABLE INCOME MATTHEW LITTLEMORE
BUDGETING IS AN IMPORTANT PART OF FINANCIAL HEALTH. THOUGH ADMITTEDLY, IT CAN BE TRICKY TO MANAGE FOR THOSE THAT HAVE UNSTABLE INCOMES.
START WITH EXPENSES SOMEONE WITH AN IRREGULAR INCOME SHOULD START WITH THE TOTAL OF THEIR EXPENSES. ADD ALL REGULAR EXPENSES LIKE UTILITIES, RENT, AND LOAN PAYMENTS.
ESTIMATE BASE INCOME LOOK AT OLD TAX RETURNS TO ESTIMATE WHAT THE HOUSEHOLD BRINGS IN EACH YEAR. DEDUCT FROM THE INCOME SPENT ON TAXES AND DIVIDE BY 12 TO GIVE AN EXAMPLE OF MONTHLY INCOME.
ADAPT THE BUDGET LOOK AT WAYS TO PARE DOWN GROCERY COSTS OR ELIMINATE UNNECESSARY EXPENSES RATHER THAN REDUCE THE SAVINGS. CANCEL UNUSED GYM MEMBERSHIPS, CONSIDER STREAMING SERVICES INSTEAD OF A MONTHLY CABLE BILL, AND DINE OUT FEWER TIMES PER MONTH.