I can’t budget because I have irregular income

If you have avoided creating a budget/spending plan/cash flow plan, because, “I can’t budget because I have irregular income.” You my friend could not be more wrong. You are more in need of a budget/spending plan/cash flow plan than anyone else. You are probably saying, “Well, how can I budget if I don’t know how much money I will bring home each month?” Right? Wrong, your budget will be based as follows:

  1. Find out how much money you brought in last year.
  2. Divide the total amount by 12.
  3. This gives you a very good approximation of your monthly income.
  4. Then, use this budget/spending plan/cash flow plan to enter in your expenses and income [wpdm_file id=2].

You now have a budget! See it was not that hard. Also, on those months that you earn more don’t go off and spend it. You need that money for the months where you won’t earn as much. Make sure you stick to the monthly income allocation you created. This will ensure that you have money throughout the year.

Home

Share on facebook
Share on twitter
Share on linkedin

More Posts

Small Business

Move Your Small Business Forward with These Cashflow Basics

Image via Pexels Profit is crucial for any kind of business to maintain success. But it’s not everything. If your small business doesn’t maintain positive cashflow, it won’t be able to thrive — or even survive —  for the long-term. Put simply, cashflow is the money you have available for operating your company. It’s the

Paycheck Protection Program

The Paycheck Protection Program is back. Business can apply for loans to keep their workforce employed. Congress approved more than $280 billion in relief funds for this purpose. Remember that not all lenders will be able to process and issue funds. Smaller community based lenders who work with low income communities and minority owned businesses

Prayer for joy

A Prayer for Joy

Jesus, thank You for becoming Immanuel, “God with us.” It’s because of You that I can

Categories

Send Us A Message