Heidi is a reader of this blog and personal finance enthusiast. As I’ve really come to love personal finance over the last few years, I asked Heidi to offer some advice for broke English majors and grad students who want to create a budget. This post offers some practical advice about how to create a budget when your income is irregular. You can get more finance tips from Heidi at the excellent blog www.thriftytricks.com.
I used to imagine freelancing as the perfect lifestyle; working anytime and anywhere you want, having no boss, and receiving as much money as you want, or rather, can.
As I started freelancing, all these expectations turned out to be very close to the truth, except for the money part. I found out that managing clients and projects takes a lot of time – time that would otherwise be spent on productive things like, well, making money. I believed that I can’t make a budget because of my irregular income and so I easily burned away all my monthly income.