Booklet

author

Bola Sokunbi

Finance & Accounting

Budgeting on an inconsistent income

Budgeting on an inconsistent income

  • Create a baseline budget by laying out the cost of your basic expenses each month. This amount is the minimum you'll need to be able to cover your expenses.
  • Prioritize your expenses in order of importance. This way even if your income does not cover everything, the most important things get paid for first.
  • Plan for future months when you earn more. Save a percentage of your earnings, especially in higher earning months, towards future months where you might not earn as much in a designated account.
  • Start thinking of ways to increase your income or establish more consistent earnings. e.g. sell things you own, find a part-time or better paying job, start a side hustle etc.

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