How To Budget An Unpredictable Income | The 3-Minute Guide
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- Опубліковано 22 сер 2018
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Erin from Broke Millennial offers tips for dealing with unpredictable income.
Quarterly estimated tax deadlines:
www.irs.gov/faqs/estimated-ta...
Who must pay quarterly estimated taxes:
www.irs.gov/businesses/small-...
Learn more about zero-sum budgeting in this episode:
• 3 Budget Strategies Fo...
Broke Millennial Twitter: / brokemillennial
Instagram: / brokemillennialblog
The Financial Diet site:
www.thefinancialdiet.com
Facebook: / thefinancialdiet
Twitter: / tfdiet
Tumblr: / thefinancialdiet - Навчання та стиль
Hi The Financial Diet,
As a consumer who wants to be financially secure, your advice can be invaluable. However, as a deaf consumer, I consistently run into the barrier on your channel regarding the lack of closed captioning. I 100% need subtitles in order to understand the valuable content you communicate to your audience, which hopefully includes persons who are deaf, as well as ESL language learners. Thanks!
This subject deserved a far longer video and came across as rushed and a simple sponsor rush rather than being useful for the target audience for this situation.
What more do you need exactly? It's budgeting, not investing. Few simple steps to protect yourself against unpredictable income just like the title says. If you seriously need more help then this then you might need professional help instead of going on youtube.
All of them seem that way to me. Broke millennial usually doesnt get my views...
Many of these topics they’ve gone over in details in past videos. These are just for those who wants the answers directly. Also they have wonderful articles in their website about many if not all of the topics talked about in these 3 min guides.
Erin's segment on this channel is always never more than 5 mns long. you can also check the TFD blog as detailed articles about this topic is written.
Um, it's called the Three Minute Guide for a reason. These are simply tips to give you an idea how to get started on budgeting. For more details you could go on their site or even look up other financial help sites online.
Found this channel a few weeks ago and everything I've watched is absolutely top notch. You guys are great!
This quality channel deserves more subscriber.
Yaaassssssss!!!! I totally asked for something like this a few weeks ago and I totally feel like you listened! Thank you!!!!! 🙏🏻
I learn something new every time. Thank you Erin.
I think one of the best ways to budget for an unpredictable income is to try to set aside emergency money in case things don't work out the way you think it will for that month.
UNLEASHING POTENTIAL - PSYCHOLOGY VIDEOS Also, bring a huge cash block of 6-12 months of living expenses until the business gets off the ground.... or work your steady job until the business takes off.
Truly amazing video. Might just be one of the best 3 minute guides, though so many of them are great. This is the kind that people like me who aren’t self employed but could see that happening many years down the line will want to keep in out back pocket.
Thanks, Lauren!
One of the things I've noticed about this channel (especially as I've been marathoning episodes) is it always assumes you make WAY more than minimum wage. I make a little over $1000 a month. Still, this video has good information for if I ever go anywhere with trying to make some money on the side with graphic design.
I totally agree that’s why I’m trying to give financial advice for people with low income
Thank god! I just googled this last night! Thank you! I Watch religiously!
Great video Erin, thank you! I am sure this could be another longer video on TFD!
straight, easy and to the point. Great video!
Thanks for the info! Now I just gotta put it in practice.
As someone who is thinking about having a few different streams of self employed income, I would absolutely love to have more videos expand on things like taxes, write offs, and legal jargon regarding self employment. I have only heard a handful of things from various family members about self employment and being a sole proprietorship but it's hard to know where to start looking and when it goes into corporate jargon that is only applicable if you have employees. Thanks for always making wonderfully informative content, y'all!
No pauses in the dialogue is hard to listen to
That's how videos are nowadays.
can you do a more in-depth video on the floating income (using last month for the current month). My husband and are looking to switch over to this method, but don't know where to begin or start.
Hello Adriana, I hope the following will be helpful.
First, how often are you two paid? Weekly, bi Weekly, etc.
2. Find out your monthly expenditure. Note when your bills are due.
I would suggest budgeting paycheck to paycheck.
3. Have a buffer of 25-75% of your monthly expenses, if your situation allows.
If you are renting or have a mortgage, if your financial situation allows, try to set aside 25-50% of your rent/mortgage in the current month for the next month.
So say your take home is 5,000 and monthly expenses(including savings &debt) is 3,500. Leaving you with 1500.Set aside 875 to 1000 for the next month's expenses.
Or you can have a buffer equal to one month of expenses.
I hope this is helpful.
Check out the paycheck to paycheck video on my channel
This is crazy. I literally googled this yesterday lol
Really wish you could turn the audio of these videos into a podcast so I can play it over my car speakers on spotify when driving 😰😰
Or just have a podcast in general lol
Jessie Lynn I listen to UA-cam videos in the car ALL the time lol! Make a UA-cam playlist and let it play over Bluetooth in your car and just keep your eyes on the road😅
If you love personal finance, try listening to optimal finance daily. It’s awesome. They are only about 10 mins each and there’s a guy reading finance articles!
if you get youtube premium you can download videos offline and just play the audio.
Erin, your advice is great! I wish we all could afford a baseline of $1,000 or so... Some of us live in big cities.
I do too ;) I've lived in NYC for 7 years. That was simply an example and not meant to be what everyone should strive to have be their baseline. Mine is much higher than $1,000.
When to use a credit card? I only use my credit card for my phone bill and anything I can’t buy with debit. But am I missing out on a useful tool?
Hi TFD,
Speaking of flexible budgets.... any tips on merging finances with a small business owner? I'm on a regular salary and am a budget-planner-master, so applying my own rules to joint finances isn't very useful. We have some savings goals we would like to work toward, but don't quite know where to start.
Not so much related to this video, but I have a request for a topic.
We have an immediate family member that isn't very good with managing money. They repeatedly ask us for help. We've helped out of good faith a few times when our money was comfortable enough to do so, but the routine is hurting our family relationship and this is no longer someone we really want to spend time with out of fear that we'll be asked about money.
How do we help someone else in learning good money skills and become more self sufficient?
HI Forge, have you head of Dave Ramsey? Check out his Financial Peace University. Perhaps, you can gift the person the program.
What about budgeting for health insurance when what you pay per month is based on how much you make?
Thanks for the topic idea, Matt. Healthcare is a topic I'd love to cover, but would probably demand much more than 3-minutes.
Yes, that's totally true, but it would be a great topic because at least for me, it's been the most concerning thing about moving into self-employment.
Does the tax amount apply to freelance journalists?
What account do you pay yourself a salary to?
me taking notes @ 1:59📝
Hi Erin from Skillshare, marked as spam.
I have a very dumb questions. Im European and we pay 25% taxes on our salary. And in return we get social financial support, healthcare, retirement for older people, free school,...
Americans get taxed just as much but i hear you dont have all those ''benefits''. What is the gov doing with your money? Not to be disrespectful, just curious
They get taxed for all the things we do including healthcare. They’re actually taxed for healthcare more than they are for federal taxes. Medicare and other healthcare aid is what they pay for. So they still fund the things we do except without the reaping some of the benefits which are arguably the most important. We may have slightly higher tax but we can utilise all of what we pay for, they can only utilise some which I think isn’t worth a bit cheaper tax
Who is uncle Sam? I didn't get that lol
FIRST VIEWERRRRRRRRRRR FROM THE 🇬🇧
U T not true
🇨🇦 🇨🇦
I wish I knew how much this beautiful girl have😅
I like this video, but you are speaking way too fast, so it 's hard to focus on what you are saying
This wasn't very helpful to me, I don't live in America. I have two unpredictable incomes, one weekly and one fortnightly. And only one savings account to generate the most interest possible.
I am not from the US originally, and what I had when I lived in my country is one bank account. I was payed in cash. So, I would leave whatever expenses I needed to cover in cash, the rest went into savings into the bank. If there was a situation when I needed extra money, I withdrew from the bank whatever I needed.
Less erin more lauren