How to manage a budget if your income is irregular ~ Meaning Articles

How to manage a budget if your income is irregular

It is never easy to live a day, and almost impossible when revenues are unpredictable. However, there is good news: it's easier than you think to handle your budget so you never going to bounce a check. What is needed is a simple system:
  1. Determine your true living expenses
  2. Save enough for expenses while waiting for the next check
  3. Organize your bills so you know what you have to pay in the future
  4. Pay your bills with money in their savings accounts and checking accounts
It sounds easy, right? You can accomplish this by following these steps:

Determine your actual expenses

See the cost of the last three or six months in the statements of your credit card and bank accounts. Add it up and calculate the average monthly spending. This will be a good number to start with.

Add up all your income you have during the same time. Record the average of how often you paid. We will have to adjust this rate over time due to price changes or things you forgot. Check the end of each month your expenses to be aware of major changes.

Set a savings account

Having money in the bank is the only way to have enough for his expenses and stop living paycheck to paycheck. If you have never had an account, you will be surprised how much you can serve.

For starters, try to have $ 1,000 in a savings account with a high interest rate linked to your checking account (choose one that offers Internet access and free transfers between accounts). Eventually try to save enough to pay your expenses for three months or more.

Next time you pay at work, pay their bills and put what about this savings account. To achieve this, you will have to spend less on what is not needed. Whenever you spend more than you earn will have problems no matter what wins or usually regardless of their income.

Organize your bills and checks advance

If you're like most people, you probably pay a dozen bills each month. Get organized and this will not be so difficult. The organized will give you peace and quiet.

Order your bills by the date when you have to pay (though the date varies, at least know that part of the month). Also write down what should be paid without delay and which can wait if necessary.

Mark on calendar paydays for the next three months. If you can, check the days waiting to be paid. So you can see whether there will be a few days or weeks it does not reach you, which gives you more time to handle the situation. Once you have money saved, you can use for these occasions.

Try to pay your bills diligently. For example, find out if the utility company offers a program that would pay him the same each month. You can also anticipate what bills you pay every six or twelve months are, so aside money each month.

Pay your bills with money from his savings account and checking account

Once you have money saved, you will be using your work check last month for expenses this month. This way your income for this month will be a reserve in case something were to happen. And if you take to pay in their work, you have money to pay your bills on time.

When you miss to pay your bills, do with the money saved but only use what is necessary. If you are ready to limit their spending temporarily during a difficult time, you will find better.

If it is difficult to motivate yourself, buy something cheap as a reward every time you of money after paying your bills.

Take advantage of this good

In 15 minutes or less ...
  • Learn to keep track of your expenses and income
  • Order all your bills as the payment deadline
In an hour or so ...
  • Open a savings account and link it to your checking account
  • Mark your calendars payment deadlines for the next three months
  • Mark on the same calendar date each waiting for his work check

Budget planning is very important in the future!

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