Budgeting for irregular Income

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How can I budget for irregular expenses?

Jack

jerry · Posted: Thu Sep 07, 2006 9:38 pm Post subject: RE:Budgeting for irregular Income

Hi,

Welcome to the forums.

You will have to take some special precautions if you are having irregular income. First of all you will have to calculate your average income in a month.

There are 2 main problems that you need to avoid

Spending more than your average income
Running out of money, even if your average income is ok

Since you are estimating, you need to leave some room for errors. So its important that you plan and keep your expenses 7% - 12% below your average income.

If you are able to do this successfully, you may end up with about 7% -8% of your income left over.

Thanks,
Jerry

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