ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Financial Fitness For Erratic Earners

Updated on September 9, 2015

Lucky packet pay sheets and last-minute deals that go through or fall through leaves you somewhat flustered at month-end. Either you’ve done very well or you’re on the brink of financial ruin. The joys of fluctuating earnings are sometimes overshadowed by the fact that there are just so many grey areas where your budget is concerned.

Absolute Basic

When you first start off earning commission, it can be quite daunting to work out a budget. If you know your expenses, however, you can work out your absolute basic. This is the amount you need to clear in order to pay your basic expenses. If you don’t make this amount every month, it’s important that you save the surplus you make on others. If you don’t, you may jeopardize your credit score during the bad months.

Monthly Expenses

Avoid getting into contracts that force you to pay a set amount every month for a service, especially those contracts that run over a 12- or 24-month period. Not only will you be locked in, but they will also be able to take legal action against you if you are unable to pay during your slow months. This is especially bad if you happen to have more than one slow months in a row. Keep an eye out for gym contracts or other services that run on a month-to-month basis.

What About Debt?

You are one of the few types of people who would benefit from revolving credit. The only reason is because you don’t really have very many options available to you. Having a revolving facility could assist you during the slow months, but only if you’re disciplined enough to repay the facilities during the good months. Having a revolving facility that is permanently maxed out won’t help you in the long run and will just cost a fortune in fees.

Emergency Savings and Overhead Savings

There are two buffers you will need to have in place to ensure you don’t get into a debt cycle. The first one is your emergency savings. This is the money you save up to create a buffer should you get into a nasty pickle, for instance, retrenchment. The recommended amount here is six times your absolute basic.

Overhead savings is unique to those who earn erratically. This is the money you need to set aside to cover your expenses during the dry months. The recommendation is three times your absolute basic and those in the various industries agree that should your drought go on for longer than three months, you may want to look for something else unless you’re in a seasonal industry.

Upfront Payments

Many things can be paid upfront and if you happen to have the funds, do so. Tuition fees, utilities, levies and even certain instalments on debt. Getting into the habit of taking care of your commitments before anything else will ensure that in no time at all, instead of just focusing on debt repayments you would be able to create wealth.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)