How to budget on a roller-coaster income - News Summed Up

How to budget on a roller-coaster income


BUILD AN EMERGENCY FUNDPeople with sporadic income should save nine months' worth of expenses in an emergency fund , says Todd Youngdahl, managing partner at Washington Wealth Advisors in Falls Church, Virginia. BUDGET WHAT YOU SPEND"When you have irregular income, you must live below your means," says Mark Kemp, a certified financial planner in Harleysville, Pennsylvania. Because you don't know your income for a given month, construct your budget around your baseline spending. If you tend to receive many small checks each month, and your reserve fund isn't fully funded yet, try weekly transfers. Twitter: @jlee—jeanneRELATED LINKS:NerdWallet: Emergency fund calculator: How much will protect you?


Source: ABC News September 28, 2017 14:48 UTC



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