Comments on: Irregular Income And Unplanned For Expenses http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/ Debt Reduction Rocks - We Are Living Debt Free! Mon, 01 Dec 2008 20:53:17 +0000 http://wordpress.org/?v=2.6.3 By: New Podcast, Personal Finance Podcasts, Network Updates http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-30556 New Podcast, Personal Finance Podcasts, Network Updates Fri, 31 Aug 2007 02:52:00 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-30556 [...] As for recent articles here at No Credit Needed, I’ve recently written about: Dave Ramsey (How To Get On The Air!) Retirement (My Wife Can Retire in 20 Years… What About Me?!?) Planning For Irregular Income (And Unplanned For Expenses) [...] [...] As for recent articles here at No Credit Needed, I’ve recently written about: Dave Ramsey (How To Get On The Air!) Retirement (My Wife Can Retire in 20 Years… What About Me?!?) Planning For Irregular Income (And Unplanned For Expenses) [...]

]]> By: Breadman http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9642 Breadman Thu, 26 Apr 2007 05:53:45 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9642 I try to budget out all of my "unplanned expenses", so I'm never really surprised by anything. I'm pretty strict budgeter too--with irregular income, i give a portion of it to charity and the other portion goes toward any debts. I'd put it toward debt over any sort of saving goal or account. I try to budget out all of my “unplanned expenses”, so I’m never really surprised by anything. I’m pretty strict budgeter too–with irregular income, i give a portion of it to charity and the other portion goes toward any debts. I’d put it toward debt over any sort of saving goal or account.

]]> By: Festival of Frugality #71 Is Financially Prudent. | My Two Dollars http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9386 Festival of Frugality #71 Is Financially Prudent. | My Two Dollars Tue, 24 Apr 2007 16:01:42 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9386 [...] No Credit Needed talks about unplanned expenses and how to prepare for them. [...] [...] No Credit Needed talks about unplanned expenses and how to prepare for them. [...]

]]> By: Jay http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9380 Jay Tue, 24 Apr 2007 15:24:14 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9380 My wife and I both work, though my wife's job is part time (she works from home) as she is a full time mom; and I have a side job as well. So we do a detailed budget for all expenses based solely off of my primary job's paycheck (paid every two weeks). Any money left over from my main check as well as all other income (Wife's part time job, my side job, ebay, etc...) has been going to pay down debt. This method has allowed us to become 'consumer' debt free this month (still owe on the house)! Moving forward, we will continue to employ the same method, however the 'extra' income will now be directed towards our emergency fund... yes, we are Dave Ramsey cult followers ;-). Once that is done we will move on to a church commitment we made and then on through the baby steps. (I love the podcast by the way) Jay My wife and I both work, though my wife’s job is part time (she works from home) as she is a full time mom; and I have a side job as well. So we do a detailed budget for all expenses based solely off of my primary job’s paycheck (paid every two weeks).

Any money left over from my main check as well as all other income (Wife’s part time job, my side job, ebay, etc…) has been going to pay down debt. This method has allowed us to become ‘consumer’ debt free this month (still owe on the house)!

Moving forward, we will continue to employ the same method, however the ‘extra’ income will now be directed towards our emergency fund… yes, we are Dave Ramsey cult followers ;-). Once that is done we will move on to a church commitment we made and then on through the baby steps.

(I love the podcast by the way)

Jay

]]> By: plonkee http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9349 plonkee Tue, 24 Apr 2007 11:01:21 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9349 I have a budget template that I tweak for every month, adding in additional income and expenses as necessary. If additional income is not matched by additional expenses, it goes into either savings / investments or kiva.org. Most categories of expenses have their own pot anyway, if there is more expense than income, it usually comes out of the "fun" pot. I have a budget template that I tweak for every month, adding in additional income and expenses as necessary. If additional income is not matched by additional expenses, it goes into either savings / investments or kiva.org.

Most categories of expenses have their own pot anyway, if there is more expense than income, it usually comes out of the “fun” pot.

]]> By: Festival Of Frugality #71: Definitions Of Frugality Edition http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9341 Festival Of Frugality #71: Definitions Of Frugality Edition Tue, 24 Apr 2007 10:26:14 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9341 [...] Irregular Income And Unplanned For Expenses by NCN @ No Credit Needed. NCN describes how he accounts for unplanned expenses. I have a somewhat similar system in place, except that I don’t budget to the penny. [...] [...] Irregular Income And Unplanned For Expenses by NCN @ No Credit Needed. NCN describes how he accounts for unplanned expenses. I have a somewhat similar system in place, except that I don’t budget to the penny. [...]

]]> By: Cheryl http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9242 Cheryl Mon, 23 Apr 2007 20:46:42 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9242 I am not as strict as you, but do have simliar budgeting technique. I get paid every 2 weeks, pay all monthly bills thru online checking, use debit attached to a different account ($$ transferred from checking) for gas, groceries, and misc expenses between paydays. My irregular income, generated thru blog, ebay or craigslist is transferred direct to ING account as savings!!! I am not as strict as you, but do have simliar budgeting technique. I get paid every 2 weeks, pay all monthly bills thru online checking, use debit attached to a different account ($$ transferred from checking) for gas, groceries, and misc expenses between paydays. My irregular income, generated thru blog, ebay or craigslist is transferred direct to ING account as savings!!!

]]> By: debt kid http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9159 debt kid Mon, 23 Apr 2007 08:45:54 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-9159 My income varies month to month right now, so its difficult to budget to the penny. I have over 300K in debt, so, needless to say, things are a wee bit tight! I'm currently trying to build up a small savings account pot, just in case something really came up (besides another creditor calling!). I'm hoping to be able to budget down to the penny within a few months. My income varies month to month right now, so its difficult to budget to the penny. I have over 300K in debt, so, needless to say, things are a wee bit tight! I’m currently trying to build up a small savings account pot, just in case something really came up (besides another creditor calling!).

I’m hoping to be able to budget down to the penny within a few months.

]]> By: FrugalBabe http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-8800 FrugalBabe Sat, 21 Apr 2007 19:15:51 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-8800 We're self employed in a commission-only industry, so our income varies every month. I also work at the library - that part of our income is steady. The way we budget is to have a set amount going towards our savings and investments (currently about $1200/month) as soon as we get paid. Then we take out money for set expenses, like the mortgage and utilities and the small credit card debt that we're working away at. What's left over is the variable part, and that's what we allow ourselves to use for food, shopping, gas, fun, etc. That's the amount that we can spend on our regular credit card each month. We pay off that card monthly, and we check the balance every day to make sure we're not going over the amount that we can pay that month. We’re self employed in a commission-only industry, so our income varies every month. I also work at the library - that part of our income is steady. The way we budget is to have a set amount going towards our savings and investments (currently about $1200/month) as soon as we get paid. Then we take out money for set expenses, like the mortgage and utilities and the small credit card debt that we’re working away at. What’s left over is the variable part, and that’s what we allow ourselves to use for food, shopping, gas, fun, etc. That’s the amount that we can spend on our regular credit card each month. We pay off that card monthly, and we check the balance every day to make sure we’re not going over the amount that we can pay that month.

]]> By: Tyler http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-8544 Tyler Fri, 20 Apr 2007 19:29:00 +0000 http://www.ncnblog.com/2007/04/20/irregular-income-and-unplanned-for-expenses/#comment-8544 We budget for ALL things coming in and out like you do. But for the irregular and unplanned stuff, we also have a category in MS Money that we call our Buffer. Right now our Buffer category is budgeted at $200/month. It's great because if we don't have any unplanned expenses etc., then we're under budget for that month - meaning more money to apply elsewhere for next month. Either way, we budget for worse-case-scenario. We know exactly what we have budgeted going in and out, and if we go under budget, even better. We budget for ALL things coming in and out like you do. But for the irregular and unplanned stuff, we also have a category in MS Money that we call our Buffer. Right now our Buffer category is budgeted at $200/month. It’s great because if we don’t have any unplanned expenses etc., then we’re under budget for that month - meaning more money to apply elsewhere for next month. Either way, we budget for worse-case-scenario. We know exactly what we have budgeted going in and out, and if we go under budget, even better.

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