How to create consistency when your money isn’t!
by Patrice C. Washington/Black Enterprise
I hear it all the time: “I can’t budget when my income is inconsistent.” The truth is, if your money is inconsistent, you need to be budgeting way more than the average bi-weekly paycheck earner next to you! Budgeting an irregular income is a tad bit trickier, but it’s not an impossible task.
When using the steps below, remember to keep two things in mind. 1) Although your income may vary greatly, many of your expenses will not. So even if you have a great month, you have to plan ahead and recognize that at some point in the future you could run into a not so great month. And, 2) you may not know the exact dates for when your income actually comes in. Accidents don’t make appointments, so you may very well have a need for extra money before even your basic needs are taken care of, or your average income for the month has been met. It’s up to you to take care of you! Read more on 4 Tips for Budgeting at Black Enterprise.