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Reply to "How to budget when your income is all bonus?"
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[quote=Anonymous]I use YNAB and they have guidance for dealing with variable income. I agree with the PP about only spending money you already received so use the bonus to fund the current year etc. you could decide how much you want to save for an “emergency” if you make much less the next year, etc. To some extent you could also decide if you want to fund some things with the bonus instead of part of the your regular monthly budget, and if you get less, you spend less on these things for that particular year: retirement savings in a lump sum for the year with bonus money, college savings for eventual kids in a lump sum with bonus money, travel money for the upcoming year in a lump sum with bonus money etc. This is a little bit above my knowledge base but I would also think you could put some of your money to work earning money and use the interest for living expenses. [/quote]
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