Yusra3
VIP Contributor
When you're budgeting, the first thing to consider is that your income will change from month to month. A variable income means that your income can be unpredictable and when you have a variable income, it's important to plan for those fluctuations.
If you're just starting out with a variable income, here are 5 tips:
1. Set aside a certain amount of money every month for unexpected expenses. This is especially important if you're starting out in a new field or industry and don't know what to expect.
2. Make sure that you have some type of cushion in case there are any unexpected expenses or big bills coming up (like car repair). You may also want to consider taking on debt or using credit cards so that there's no need for additional funds right away!
3. Know your variables. What are the things that will make or break your budget? Are they things like rent or utilities? Or perhaps they are things like groceries or gas? Knowing these factors will help you prioritize how much money is available for other expenses.
4. Track where your money goes. For example, if you know that food costs are one of the biggest contributors to your monthly expenses, then it makes sense to set aside some extra cash each month for food so that these expenses don't take over the rest of your budget.
5. When possible, look for ways to save money by shopping around or using coupons from different stores. This will help keep those expenses down while still providing enough funds for other items on your list.
If you're just starting out with a variable income, here are 5 tips:
1. Set aside a certain amount of money every month for unexpected expenses. This is especially important if you're starting out in a new field or industry and don't know what to expect.
2. Make sure that you have some type of cushion in case there are any unexpected expenses or big bills coming up (like car repair). You may also want to consider taking on debt or using credit cards so that there's no need for additional funds right away!
3. Know your variables. What are the things that will make or break your budget? Are they things like rent or utilities? Or perhaps they are things like groceries or gas? Knowing these factors will help you prioritize how much money is available for other expenses.
4. Track where your money goes. For example, if you know that food costs are one of the biggest contributors to your monthly expenses, then it makes sense to set aside some extra cash each month for food so that these expenses don't take over the rest of your budget.
5. When possible, look for ways to save money by shopping around or using coupons from different stores. This will help keep those expenses down while still providing enough funds for other items on your list.
