If you are tired of regular changes from excess of money to the lack, you need an easy guideline how to make your finance less dependent on the changing income
You should not find the cause of all problems of your financial situation in the low income you have. Occasionally you can just get the salary not in the right time when you have really needed it. Self-employed people know this feature when your dinner in the restaurant depends on the cash flow of your day. You may earn enough money, but feel lack of it, if you always face the cash-flow problems.
That is why if you have you own business and take all the risks by yourself you need to know how to manage your budget with no stable income. So here are some financial recommendations that can be used to control the finance with no dependence on the regular paychecks.
Tracking the Money
Today many experts have the common idea that it is vital to track all your income and spending. This can be easily done with one of the free applications for your mobile that will record all your financial actions. Such attitude to money will show you the way you spend your money and will help to decrease unnecessary expenses.
Also, try to plan serious purchases and avoid momentary desires that make you waste your salary on the items that you have not planned to purchase. Of course it will restrict you in some way, but you can still have reasonable entertainments and relaxation.
Due to the changing conditions of your work your income is not stable, you can earn less in the next month comparing to the previous one. So you should always think about the possibility to make savings ahead. It is not hard to relax and spend all the money when you think you still have thousands left. But the next paycheck can be not so big and you will regret spending all the money. This makes you more prudent and thoughtful.
Use Different Accounts
According to many financial advisors, it is better not to have all the money in one account. In such case you will not overvalue your financial situation and spend too much when you receive really good check. It is better to make at least three different accounts.
The first one you can use for covering utility bills and other necessities, the other one can be used for entertainments. And the third one is for covering some debts or making savings. Also, it is beneficial to make an automotive system for distribution of your money. In such case you will easily avoid possible additional charges for missed payments of your bills. Also you can always take an advantage of online loans provided by PersonalMoneyService to make all your necessary payments on time.
Make Necessary Payments at Once
Ones you receive regular bills, you should cover them. For such monetary actions you need to have definite amount of money on your account according to the previous expenses on utilities. This is a useful practice and will allow you to manage the left money during the rest of the month. Also, using such easy strategy will never make you a debtor and you will face no problems with utility companies.
If your earnings is seasonable or depends on the other conditions that you can foresee, you may make necessary preparations ahead. Try to save necessary amount of money on that period when you will obviously have less money. In such way you will be able to overcome such monetary shortage with no hurt to your budget. This strategy should be also used for holiday season when you make a lot of purchases and gifts.