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<blockquote data-quote="trinityroyal" data-source="post: 125331" data-attributes="member: 3907"><p>Sue, my husband and I are both contractors, so our income from month to month and year to year varies.</p><p></p><p>When I budget, I work out the minimum likely earnings for each month, and then plan income and expenses on that basis. Extra income goes into a short-term investment fund, or to savings, or to home repairs or that sort of thing. </p><p></p><p>We also try to keep a 3 to 6 month "burn rate" fund banked in case either or both of us are between contracts.</p><p></p><p>In the past, when money has varied widely from month to month, I have budgeted based only on the steady income. All expenses to be covered by the one income, and the other variable income to to be treated as an emergency fund.</p><p></p><p>Hope this helps,</p><p>Trinity</p></blockquote><p></p>
[QUOTE="trinityroyal, post: 125331, member: 3907"] Sue, my husband and I are both contractors, so our income from month to month and year to year varies. When I budget, I work out the minimum likely earnings for each month, and then plan income and expenses on that basis. Extra income goes into a short-term investment fund, or to savings, or to home repairs or that sort of thing. We also try to keep a 3 to 6 month "burn rate" fund banked in case either or both of us are between contracts. In the past, when money has varied widely from month to month, I have budgeted based only on the steady income. All expenses to be covered by the one income, and the other variable income to to be treated as an emergency fund. Hope this helps, Trinity [/QUOTE]
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