By Divya Jain
By Divya Jain
August 21, 2023
In today’s economy, fluctuating or irregular income can lead to many financial problems. By embracing these strategies, you will be able to save during peak times, and adjust monthly budgets.
Track your average monthly income and expenses to create a starting budget.
Prioritize saving for unexpected expenses during high-income months.
Allocate 50% for essentials, 30% for wants, and 20% for savings.
This includes making a list of the essential expenditure such as rent, food, insurance etc.
Monitor your spending closely to budget more accurately.
Adjust your budget each month based on the actual income received.
Resist increasing expenses drastically during good months.
Develop multiple sources of income to stabilize cash flow.
Try to keep a track of expenses and budget on a regular basis to develop a habit