Not knowing how much money you’ll make in a given month can really make you feel anxious. But with the right systems in place, you will understand precisely where your money should go and how to plan for the future when you are managing a variable income.
Variable income is when the amount fluctuates every week. You could have an extremely high earning month and then a low income the following month. This is most often associated with self-employed individuals, those working in sales and off commission, or hourly wages where hours fluctuate every week. It can also include tips and investments.
A variable income can be difficult to plan around. Some months you might be able to live like a king, but other months you might not even know if you can fill your gas tank. But with over 50 million freelancers in the U.S., you aren’t alone on the rollercoaster of a fluctuating income.
The post 10 Practical Tips For Managing A Variable Income originally appeared on Everything Finance