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Reply to "How to budget when your income is all bonus?"
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[quote=Anonymous]The typical, and best way, to budget, is not to spend money you have not made yet. The day after he gets his bonus, you set your budget for the year based on that amount. The budget should not spend all the money. It should obviously include savings for an emergency, retirement, and college funds. If it is an above average bonus, the budget should include extra savings for years in which the bonus will not be as good. If it is a below average year, you might consider using some of that savings.[/quote]
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