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Friday, May 29, 2009

How To Budget On An Income That Varies!!

Budgets can be scary, especially if your income varies. I have found that the best way to create your budget, and make sure you do not overspend is to set your income amount to the lowest possible amount.

For example, if make $300 one week, and $500 the next, use the $300 amount when creating your budget. So, in your income column you would say $300*4=$1200 per month. This also makes it a little easier to save, because you can take anything over the budgeted income of $300 per week, and place it in your savings account. If you do not have it budgeted, you will be less likely to miss that money.

These numbers are just used as an example, but I think you get the picture. Do not budget on money that you are not absolutely sure you will receive. This will help you feel a little less stressed. If you figure out how to make your budget balance on the lesser amount, the extra can be saved.

Photo Source: alancleaver_2000

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