Georgina Dent finds being organised and planning ahead is essential to living on a fluctuating income.
I am self-employed and,like freelancers the world over,it means my income fluctuates. Feast or famine is a familiar dichotomy.
My co-earner (and husband) isn’t freelance but he works in the hospital system and his income varies according to the overtime and hours worked. Depending on the particular day and staffing arrangements,this can change wildly.
It means,for both of us,there is little certainty about how much money we will earn in any given month,as well as when it will be paid.
This is not always simple to reconcile with the fact our expenses remain stubbornly fixed. Making a variable income fit around fixed costs is a dilemma no doubt familiar to the estimated8.5 per cent of Australians who are self-employed and countless more whose take-home pay depends on variables like overtime and commission.
While indulging in the odd pang of envy for those not acquainted with this stressful exercise is perhaps inevitable,it’s not useful.
A credit card can help smooth out income,but only if you're disciplined.Credit:Shutterstock
What is more useful,annoyingly,is being organised and disciplined. When there is no way of knowing exactly what will hit your bank account and when,trust me when I say,having a budget and a plan is critical.