1533: How to Budget on a Variable Income by Jen Hayes on Setting Yourself Up for Financial Success

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 21 May 2021

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jen Hayes talks about how to budget on a variable income. Episode 1533: How to Budget on a Variable Income by Jen Hayes on Setting Yourself Up for Financial Success A few years ago, Jen and her husband were buried in $117,000 of student loan debt. Now, they've paid off over $100k of debt, and they're on track to have the rest paid off by the end of this year. Join their email list to get exclusive tips on how to save money, earn more, and live like no one else. The original post is located here: https://www.jenhayes.me/how-to-budget-on-a-variable-income/ With the SendPro software, you can compare shipping rates between carriers, plus save 40 percent off USPS Priority Mail shipping and get 5 cents off every letter you send. Our listeners can try it FREE for 30 days and get a FREE 10 pound scale, but only when you visit: PB.com/OFD. Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group Join the Ol' Family to get your Free Gifts and join our online community: OLDPodcast.com/group Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 1533.
0:04.0	How to Budget on a Variable Income by Gen Hayes of Gen Hayes.me
0:09.0	And I'm your host and personal finance enthusiast, Diana Mariam.
0:13.0	This is the show where I reach you from the best personal finance blogs on the web,
0:18.0	with the author's permission of course.
0:20.0	For now, let's get to today's post as we optimize your life.
0:25.0	How to Budget on a Variable Income by Gen Hayes of Gen Hayes.me
0:34.0	As a personal finance blogger, I get a lot of questions from readers
0:38.0	about how to budget on a variable income.
0:41.0	Budgeting is hard enough for most people.
0:43.0	Throw in an income that varies wildly from month to month
0:46.0	and it's no wonder people get frustrated with trying to find a budget that works.
0:51.0	There are three different options I would recommend for those of you
0:54.0	who are trying to budget on a variable income.
0:57.0	Number one, living on last month's income.
1:00.0	Number two, budgeting from paycheck to paycheck.
1:03.0	And number three, estimating your worst month and creating a bear bones budget based on that.
1:09.0	I'm a big believer that what's right for one person isn't necessarily right for another.
1:14.0	We all have our own unique journey.
1:16.0	What makes sense for a freelancer who has no clue what her income is going to be
1:20.0	might be very different from what a salesperson should do
1:23.0	if he has some insight into what his commission might be next month.
	...

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