We can’t change the fact that you don’t know exactly when or how much you will get paid, but we can teach you to be in total control of your money, and stop stressing about it! This eight-part series will teach you exactly how to budget successfully and get ahead, variable income and all.
You have a variable income. It is a fact.
Stalling, avoiding, ignoring, and/or dragging your feet just means more time feeling out of control and stressed.
You tell yourself that more money or a more regular income will solve your money problems, but until you are in control, you are not in control. More money will not change your situation.
So, it’s time to get pumped up. You can be in total control of your money right now. And all you have to do is follow these four steps:
Step One: Give Every Dollar A Job
Be purposeful about the money you already have (resist the forecast!), assigning it to jobs that are most important. Start with immediate obligations and go from there.
Step Two: Embrace Your True Expenses
Regular expenses are only a portion of what you need to prepare for. Set aside money each month for all of your true expenses, especially when you have a great month on the income side.
Step Three: Roll With The Punches
Change your budget. Life, like your income, is unpredictable. Your values may not change, but your priorities do, whether you like it or not. Change your budget, and you’ll stay in the game.
Step Four: Age Your Money
Actively set money aside for next month’s expenses and, if your income is highly variable, may the next month too. Build yourself a cushion of money and time and sleep better at night.
(Sometimes we call them “Rules” but either way the cycle is the same. And it works.)
Rinse & Repeat
You can repeat this cycle whenever you get paid–just because the rest of the world is confined to predictable weeks and months doesn’t mean you have to.
Do you earn money that comes in a big windfall every couple of months? Super. Do you wait tables and get paid every day? Can-do. Something in between? It doesn’t matter. Keep following the steps, keep budgeting, and you’ll reach your goals.
And enjoy being able to say, “I told you so,” to your mother-in-law who wanted you to give up your dream for a day job.
Ready to give budgeting a try? Start today with a free 34-day trial of You Need a Budget. We’ve helped variable income, side-hustling, business-running champs like yourself for many moons. See what all the fuss is about. What have you got to lose?
This is part of an eight-post series on budgeting with irregular income. See the full list here:
- Part 1: You Can Budget With Irregular Income
- Part 2: How to Make Spending Decisions When Your Income is Unpredictable
- Part 3: The Dangers of Forecasting on an Irregular Income
- Part 4: Planning for Non-Monthly Expenses on an Irregular Income
- Part 5: How To Expect The Unexpected When Your Income is Unpredictable
- Part 6: Change Your Mind, Change Your Budget
- Part 7: The Importance of Aging Your Money When Your Income is Unpredictable
- Part 8: No More Excuses