Tips To Budgeting When You Aren’t On A Salary

To budget on commission-based income, create two bank accounts: a RESERVE fund for savings and monthly expenses, and an EARNINGS account for paying yourself. Build your reserve by budgeting strictly and consider a side job if needed. Track all expenses—fixed, variable, and periodic—then divide annual costs by 12 to set monthly savings goals. Pay yourself regularly from the reserve, automate savings and retirement contributions, and allow yourself grace during fluctuating months. Planning ahead ensures financial stability.