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Personal Growth

Money Management Without a Steady Paycheck Doesn’t Have to Be Hard

If you're self-employed or work in a job with irregular cash flow, it's vital to dedicate yourself to a money management system that works for you.

Not every form of employment comes with predictable pay. For the 14+ million self-employed Americans, cash flow can sometimes be sporadic. One month you might take in a ton; the next you’re eating Top Ramen 3 meals a day. Geoff Williams of U.S. News and World Report has a piece up right now about the vital need to develop an effective money management system without a steady paycheck. He interviews several experts who help him compile a list of pointers. These include: not operating on budgetary autopilot, treating your “rich months” like poor months, spreading your earnings over several accounts, paying bills in advance, and cutting down the need to make unpredictable purchases.


Most of all, it’s important to be prudent when times are good. Don’t let big paychecks burn a hole in your pocket if you’re not sure if the next one will make up for your impulse spending.

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Check out Williams’ piece (below) and let us know in the comments what you think. Do you have any tried-and-true strategies for money management when cash flow is unpredictable? What works for you?

Read more at U.S. News

Photo credit: visivastudio / Shutterstock


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