Olde Hornet
Well-Known Member
https://www.usatoday.com/story/mone...nthly-budget-roller-coaster-income/714209001/
Financial experts' best advice is to plan ahead as much as possible, using creativity and new tech tools designed for those with irregular incomes. Here are four tips for managing money when your paycheck fluctuates.
1. Build an emergency fund
People with sporadic income should save nine months' worth of expenses in an emergency fund , says Todd Youngdahl, managing partner at Washington Wealth Advisors in Falls Church, Va.
2. Budget what you spend
"When you have irregular income, you must live below your means," says Mark Kemp, a certified financial planner in Harleysville, Penn.
Because you don't know your income for a given month, construct your budget around your baseline spending.
Financial experts' best advice is to plan ahead as much as possible, using creativity and new tech tools designed for those with irregular incomes. Here are four tips for managing money when your paycheck fluctuates.
1. Build an emergency fund
People with sporadic income should save nine months' worth of expenses in an emergency fund , says Todd Youngdahl, managing partner at Washington Wealth Advisors in Falls Church, Va.
2. Budget what you spend
"When you have irregular income, you must live below your means," says Mark Kemp, a certified financial planner in Harleysville, Penn.
Because you don't know your income for a given month, construct your budget around your baseline spending.