It’s easy to divvy up a paycheck. Freelance income, not so much. The biggest problem with making a spending plan (because we all hate the word budget, right?) is that you’re never sure how much you’re going to get, and when it’s going to show up. This is a huge problem when you’re first starting out, but it’s still an issue even after your established—while you might know your average earnings, you still don’t know exactly when the check will be in the mail.
I’ve long recommended Ramit Sethi’s concept of dividing your income into percentages, rather than amounts. …Read More