Comments on: Irregular income? Here’s how to plan

By: Shaun McGowan

Shaun McGowan — Sat, 13 Feb 2010 06:14:25 +0000

Nice post! It is really hard when you have an irregular income.. it’s hard to make a financial plans.

By: lizweston

lizweston — Fri, 12 Feb 2010 17:29:27 +0000

That’s so smart of you. It may seem like a big chunk, but it’s so much better to save for it as you go than face a gut-wrenching tax bill April 15 (or hit retirement with not enough money saved).

By: lizweston

lizweston — Fri, 12 Feb 2010 17:24:12 +0000

Good point, A.B. Tips can really wax and wane, which makes planning difficult. I think you’ll enjoy the book; the authors obviously had a lot of fun writing it, and it’s packed with great advice.

By: A.B.

A.B. — Fri, 12 Feb 2010 07:58:12 +0000

This advice also applies to people in tipped professions. Even before I did anything in self-employment, my husband and I had developed a lot of these financial planning skills early on; as a room service server, so much of his income was based on tips that a zero-balance budget was next to impossible. I look forward to reading this book.

By: Kate Ashford

Kate Ashford — Thu, 11 Feb 2010 16:08:15 +0000

The “saving a percentage of your income” suggestion is dead on. I’ve been freelancing for two and a half years, and whenever I receive a paycheck, I set aside 40% automatically: 30% for taxes and 10% for retirement. As soon as the money is deposited in my bank account I transfer that 40% to my ING savings accounts, so it’s not there for me to spend. I can’t imagine trying to save a certain amount every month, because (as you know) payments are so unpredictable. Great advice.