Whether as a freelancer or an independent contractor under any variety of gig platforms, you tend to carry additional financial responsibilities in comparison to regular salaried employees.
You are making money on your own terms. And ultimately, you get to decide how you want to work, who you want to work for, and when you want to work… You are your own business!
And as your own business, you will need to manage your finances for business expenses, investments, cashflow efficiency, and learn how to save money as a freelancer. Even if you hire an accountant to manage your finances, knowing how to save money as a freelancer will provide you with a foundation for further career progression.
In this following article, we will go through how to manage self-employment income as a freelancer by introducing the following concepts:
Freelancers should think from the mindset of a small business owner. Whether you are freelancing for supplementary income or doing it as a full-time gig, knowing how to manage finances as a freelancer early on will reduce anxiety and financial insecurities that may arise.
Freelance money management is a great skill and habit to develop as your career grows.
Itching to learn more? Here are our 5 pro tips to help you discover the best ways to manage your freelance finances!
One of the most important financial tips for freelancers is to stay organized by keeping track of cash flow–either manually or with accounting software. When you treat your gig as a small business, you will take your finances seriously and know how to manage self-employment income. Money management for freelancers shouldn’t be any different from how an owner would run their business.
Cash flow is exactly what it sounds like–it is how money is moving in and out of your business each month. It’s understanding how much money is generated from your gigs and how it’s being managed. This is particularly important for gig workers as income can vary between months. If the cash flowing in is less than usual because of a slower season, you will have to bring your expenses down to make sure cash flowing out is always less. It is key to never spend more than what you have!
Tracking your cash flow will not only make tax season much easier for you, but it will give you a visual representation of your spending habits. Knowing exactly where your money is going will help you stay mindful of spending while helping you find opportunities to cut unnecessary personal or business expenses
In a survey conducted by FreshBooks, 72% of freelancers earning between $50,000 and $99,000 agree that managing and tracking expenses is on the top of their list of healthy financial habits to develop. You should keep a record of the money coming in from your business and the money going out for expenses. This includes everything from gas to transportation upgrades like getting an e-bike for your food delivery gig!
Another important financial tip for freelancers is to separate personal finances from business finances. Keeping the two separates will help you track income, expenses, and taxes. You can either open a separate account under your existing branch or find another branch to use for your business–whichever way you prefer to help make your life easier!
As a self-employed freelancer, it’s important to understand that your business income is not your personal income. The income you receive from a client or gig platform is still subject to tax deductions. Since you do not have an employer that regularly deducts taxes on your behalf, you will be responsible for filing your own taxes each year.
It was shown that only half of self-employed professionals are setting aside money to pay their taxes. Freelancers are not setting money aside for taxes because it can be time-consuming, complicated to do on your own, and a financial burden if you haven’t developed the habit of putting money aside.
If you don’t have an accountant to help determine how much in taxes to expect, a good rule of thumb is setting aside at least 20% of your income for tax purposes. Take this lump sum of money from your income and make sure it stays in your business account. Whatever is left over can be transferred to your personal account to pay yourself. This will assure you will only touch the money that is yours especially if you have difficulties managing unstable income and financial volatility.
Running your own gig will come with business expenses. This will depend on what your gig is and what you need to run it efficiently. For example, insurance and gas are two reoccurring expenses a rideshare driver will have and can expense during tax season. Expensing these business costs will help reduce your total taxable income.
Freelancers need to know that while business expenses can help lower the amount of taxes owed, it’s not free money. You will need to be mindful that they’re not complete write-offs and should try to keep expenses low. Try to only spend on expenses that are mandatory or will help optimize your business and bring in more income. For example, upgrading from a manual bike to an e-bike can help increase efficiency and bring in more money. This is a valuable business expense that can help your business grow!
If your goal is to save money towards your future, you should try your best to keep expenses low by reducing discretionary spending. Whenever you’re about to make a purchase, ask yourself if it will help move your business forward. If not, maybe try using the extra money towards other larger goals. Think big!
You should know how much money you will need to cover your essential expenses. This includes your living expenses such as rent and food, along with any other expenses that keep your business running. If you know how much you need to spend on your business each month, you will need to budget for that.
If you know you have at least $1,000 in expenses each month for rent, insurance, gas, and other living costs, then you already know the bare minimum you will have to make to cover that. This means your break-even number is $1,000 and you should aim to either break-even or make more to set aside for emergencies or savings. The ideal situation is to always have a positive number after subtracting your expenses from the amount of income you’ll be bringing in.
Knowing your break-even number will help you determine how much money you need to make. Since your income can vary each month, you may need to either diversify your income by finding multiple gigs or know how to save money as a freelancer.
Not only will you have to set aside money for tax purposes, but you will need to build an emergency fund and know how to save money when self-employed. This fund will be helpful when unexpected emergencies arise and give you greater peace of mind. Since you are a freelancer, you will not get paid for sick days or have health insurance coverage from an employer. Having a financial safety net will allow you to take a day off work or visit the doctor without additional worries so you can focus on you.
With your personal bank account, you can set a small amount of money to automatically transfer to your savings each month. Being able to automate this will help make setting money aside a priority. When you make transfers and keep this money in a savings account, it can slowly build interest over time and help you reach your financial goals.
These financial tips for freelancers will help you be more mindful and work towards your goals. Once you know how to manage finances as a freelancer, you will have better financial control and be able to run your independent career worry-free.
If you need financial help as an independent worker, we regularly create helpful resources. Join thousands of other gig workers and sign up to be a part of our community!
Life as a gig worker can be hectic. There is never enough time to reflect on accomplishments or new skills because of the dedication and focus. Should you transition to traditional employment and begin to write a new resume, or prepare for an interview, it can be hard to accurately capture the breadth of your skills. Soft skills, such as negotiation and problem solving, are essential in almost every field. Chances are good that you have some pretty solid soft skills if you’ve been working in the gig economy. Use the ideas below to highlight your successes on resumes or cover letters and remember that regardless of what you do for a living, soft skills are key to taking your career to the next level.
Starting out as a freelancer or a gig worker is hard. The uncertainty of future projects, fluctuating incomes, and general variance of so many aspects of the job make it all the more stressful. But remember that as you get through the rough times and learn how to navigate new obstacles, you are constantly problem solving. You know how to adapt to whatever life throws at you. If one strategy doesn’t work, then you will keep that in mind when you try again. When push comes to shove, you find a way to overcome challenges, learn strategies for the next hurdle, and keep moving. That is what problem solving is all about. Remember the struggle, remember the changes, and make your story heard to share how you problem solved through every hiccup.
From the outside, it can seem like everything about the gig economy or the gig work lifestyle fluctuates. It is true that adaptability is key to making it in the gig economy. We can never expect things to always go our way. Knowing when to push, keep going, then in contrast, knowing when to hold back and change the plan will allow people the emotional stability to continue on in this economy. Do not underestimate the sacrifices that you have made, the plans you have had to change, and the different paths you have taken to try and reach your goal. Remember to highlight the accommodations you made for each gig, the extra mile you put in for each delivery, and all the changes you adapted to in order to keep moving forward.
When you begin as a freelancer, finding your own clients is a hard but a necessary start to establish your reputation in the industry. As you seek out different communication channels to reach as many potential clients as possible, you may subconsciously start to think about all the ways you can provide value. You put in the extra work to obtain that client, to make them satisfied with your work, and to get your foot through the door of the gig economy. Thinking on the long-term, always looking to provide that value, and doing whatever necessary to get to where you want to be, demonstrates goal-oriented thinking. Even if one client does not see your value, you have to be resilient and either keep pushing or move on. Make note of what decisions you make and why you make them. You will be surprised that even if the answer is as simple or demanding as needing to pay rent, you are constantly exhibiting goal-oriented behavior.
Perhaps one of the most important skills you will practice as a gig worker is knowing how to learn. No matter what stage you are in your career, there will be times when you do not know how to do something, when you need to upskill, or when you said you could do something but did not know exactly how you were going to deliver. These scenarios are not limited to gig workers, but without a corporate structure able to provide you with the guidance to help, your self-learning abilities are put to the test with every new challenge you face. When you encounter these situations, it may be tempting to hurry, learn and move on. But a good practice to demonstrate your self-learning abilities in the future is to be able to articulate each problem, the solution, and most importantly the concrete steps you took to mitigate similar problems in the future. That way, anytime an interviewer asks about a time you were faced with a challenge, you will have a plethora of stories in your back pocket.
No matter where in your career you are, remember that you are constantly putting to practice the soft skills desired by employers. It may be tempting to go through the motions and skip the reflection, but taking the time to understand your struggle and how you conquered it can help you grow as a worker and a potential employee. These 4 listed are only a few of the skills that gig workers in particular often practice on a regular basis. So keep track of your journey, remember the struggle, and check back often for more resources to help you succeed in the gig economy.
Over the past few years, e-bike popularity has exploded, opening up a whole new modes of mobility for drivers, cyclists, and pedestrians alike. Sleeker than motorcycles, e-bikes look like your average two-wheeler with a battery pack added to the bike frame. The battery size and type varies across different models, but they can usually be removed from your bike and charged indoors the same way you charge your phone or a laptop, and can even be carried in spares for long bike rides.
There’s a reason you see so many e-bikes in Toronto and other major cities, and that’s because they make getting around much easier! By providing riders with pedal assist, e-bikes can help cyclists tackle steep hills and long journeys by reducing the amount of effort needed to move the bike, although you can still ride an e-bike by pedaling if you wanted to. You can even ride your e-bike in the winter, as the extra power can help you traverse ice and snow.
E-bikes are the perfect vehicle for couriers and food delivery workers since they’re perfectly suited to navigating tight city streets without sacrificing speed or mobility. Read on to compare e-bikes to other vehicles, the logistics of using one for delivery work, and how gig workers can secure e-bike financing.
An e-bike can do everything a road bike can do, and more. Just like a regular bike you can peddle, brake, coast, navigate some uneven terrain, and easily lock your bike to a post or a bike rack. E-bikes are only slightly larger than road bikes, so you can bring them inside your house for overnight storage if you wish, or you can lock them in any standard sized bike rack, bike storage room, garage, or shed.
The main advantage e-bikes have over road bikes is pedal assist, which helps you save energy while pedaling. You can turn pedal assist on or off depending on your cruising speed and your terrain. You may find that downhill or flat terrain don’t require pedal assist, so you can easily switch it off until it’s needed again to conserve your battery. Pedal assist is useful for hills and other situations where your top speed is dependent on pedaling like you’re Lance Armstrong.
So where do standard bikes have the advantage? For starters, since they lack a battery, they’re usually lighter, so they have the upper hand in the rare situation you have to carry or lift your bike. The lightness also makes them easier to pedal on rough or elevated terrain, an advantage which is negated if you use pedal assist and primarily ride in cities.
The other advantage of standard bikes is that they’re more useful for exercise. If you’re going on a bike ride just for fitness, you don’t need a motor; but if you’re commuting or working as a courier, a motor comes in handy. That being said, you can can ride an e-bike without the battery and pedal all you want if you don’t feel like turning on pedal assist.
Cars have their time and place, but when it comes to navigating dense cities with lots of traffic, e-bikes come out on top. Their mobility and affordability make them the prime option for couriers in cities like Toronto where parking can be a rare and expensive commodity. Being able to pull up onto any sidewalk and using any bike rack is always going to be faster and easier than fighting for parking near busy popular restaurants.
Since e-bikes are electric batteries, they can be charged very cheaply. The cost of keeping your battieries fully charged is pennies compared to what you would pay for gas. If you plan to be out for a long day of ebiking, you can also carry spare batteries rather than rely on gas stations.
E-bikes are also more affordable than cars at the base level – a basic new e-bike costs roughly 90% less than a basic new sedan without any bells and whistles. While you can find a used car for less money, you often end up paying more for it over time thanks to maintenance costs.
It’s important to note that the upkeep on any car is much more expensive than the upkeep required for an e-bike, with the Canadian Automobile Association (CAA) valuing the cost of owning an operating a small car for a year around $3300. The average annual cost of maintaining an e-bike is much cheaper at approximately $318, although this can be cut in half if you’re able to perform basic bike repairs yourself.
On the other hand, cars do outperform e-bikes in terms of range and cargo capacity. Although cargo e-bikes are available, cars are still the best in show when it comes to transporting anything large or heavy. While you may be able to tackle something small like an Instacart order with a cargo e-bike, anything over 350 lbs (such as furniture or appliances) likely has to be transported with a car or truck. Cars are the better option for journeys that are over 30km or include highways, but wear and tear quickly when driving inside cities.
Yes, you can use an e-bike for UberEats, Skip The Dishes, Doordash, and any other food delivery platform you use. Using an e-bike is not cheating, and it is not against the rules of any delivery platform. Yet it does give you a distinct advantage over other bike couriers.
Using an e-bike for food delivery can help you move faster, allowing you to complete deliveries faster and take on more potential business. You’ll also be less tired after each delivery, allowing you to stay out longer or to have more energy to live your life.
If you want to get a leg up on the competition, Moves is offering food couriers in Ontario e-bike financing at starting at 0% APR.
You have become your own boss and can now use your time the way you want to. What now? Remember
that life is so much more than how much you make and what you achieve while
working. With endless unexplored opportunities, untouched activities, and all the experiences
yet to be had, here are 5 ways to make the most of your time when you’re your own boss
This is a great way to reset and prevent burnout. Remind yourself that you have a life
other than work, and remember to continue to live that part to the fullest. Whether that is
gathering with your friends, curling up with a good book, or participating in an event,
you must allow yourself to recharge. Chances are you will return to work feeling better and more
productive after achieving a happier state of mind. This complements the control you
have over your own schedule because it more often allows you to be the sole decision
maker for whether and when to include time for your hobbies.
If it gets discouraging to constantly work towards small breaks and days off, consider
saving up and planning a vacation to an exciting destination. Travelling exposes you to new
cultures, landscapes and new ways of life. It broadens a person’s mind by showing them just how different places of the world are, all while meeting and learning from people of different backgrounds. You could even work in that destination if your type of work permits it. This can be an incredible break for people who need a change of pace every few years. You may even meet some people during your gigs who have been to the same location and start an engaging conversation about it. Furthermore, while working towards the trip, you will more often have a boost of motivation to push you to keep going, making that dream vacation a reality.
Open your mind and push yourself to experience things you have never before. Many people are struggling to find what they are passionate about or what they truly enjoy doing. By testing out new things you can work towards finding new hobbies, meeting like minded people, and achieving an overall better understanding of yourself. On top of that, in our increasingly competitive society, it is extremely beneficial to keep challenging yourself to adapt to an ever-changing marketplace. Learn that new skill, enroll in that never before taken course, try that restaurant you have never been to. Not every experience will be as amazing as others, but at least you will never be left wondering what it could have been like.
Push yourself one step further by documenting your learning journey. Every person has stories to share and you never know who you can help by sharing your learning experiences and setbacks. Doing so can help you build your personal brand and leave a social trail of all the challenges you have surpassed. This can not only help other people who have a similar background to you, but can even lead to potential employers contacting you for more opportunities.
It is important to remember that to reach any healthy lifestyle you need to realize, reflect, and make adjustments wherever you can. Ask yourself from time to time how you feel. Whether it is how you are feeling for the day today, or your overall mood throughout the past few months, being aware of your state of mind can be key to helping you achieve an optimal lifestyle. After you are aware of what you feel, meditate on it. Why is it or what is it that is preventing you from reaching your peak? Is it a temporary
situation that will pass by soon, or is there a bigger reason that will require effort to change? After you have realized and reflected, it comes down to making those adjustments. Maybe you need to wake up earlier to be more productive, maybe you need to drink less coffee. Small adjustments overtime can make a positive impact on all aspects of your life. It is never too early or too late to take steps to achieve your optimal lifestyle. Don’t wait to achieve yours. As a gig worker, you are your own boss. With that freedom comes opportunity to take matters aside from work into your own hands as well. Realize, reflect, and make adjustments to live your most fulfilled life.
Inspired? Keep visiting the Moves education page to learn more about thriving in a gig
We’ve compiled the resources provided by governments and gig economy platforms created to help ease the burden created by the COVID-19 pandemic. Please check each resource directly for the most up to date information.
Alberta COVID-19 Information
British Columbia COVID-19 Information
British Columbia COVID-19 Aid and Assistance
Ontario COVID-19 Information
Ontario COVID-19 Aid and Assistance
For more information provided by Moves: Financial Support in Ontario
The impact of COVID-19 is felt by every person, business, and industry. Its disruption to the gig economy is particularly impactful, as incomes that were already inconsistent were thrown into flux. But as the economy slowly opens up, it’s more important than ever to put your best foot forward. The gig economy and the future of work is creating a new landscape for self-employed workers. Here are 5 tips to help you propel yourself to success in a post-COVID economy.
Remember that there is no right or wrong way to get from point A to B. Sometimes there is not even a destination in sight and that is all okay. Feeling lost or confused is normal. When you’re ready to start moving forward, remember to start small. It could be getting rid of a bad habit for a few days at a time. It could be reading a chapter of a book a day. Setting smaller more realistic goals can help you work your way up to make big changes! Not to mention, it’s more motivating to be able to check something off of your list. Do not forget to celebrate all of the small victories along the way- all big achievements were the combination of the smaller victories underneath them.
When you feel as if you are ready to get back on your feet, plan out what you want to do and what you can do during this time to use it as effectively as possible. The goal will vary from person to person and it can be as ambitious as starting a personal project or adding to your work portfolio. Understand what you are doing and its impact on you. Be aware of your goals and how whatever you are doing will help you achieve them. This way you can ensure that you are making personal progress with each passing day and that you are not letting valuable time slip by.
American poet Ralph Waldo Emerson once famously said “it is not about the destination but the journey”. It will not be easy getting through any period of disruption, but by recording your journey and how you overcome obstacles, you may end up with more grit and higher resilience than ever before. Sharing your stories will build social proof of overcoming challenges of any difficulty. These stories when shared can create a positive impact for a wide audience, helping people develop the motivation to conquer their own struggles.
With the world changing so fast, a great habit to get into is reading the news. Ease into it with news topics that are the most interesting to you and then gradually keep an eye out for modern political and business affairs. Make sure to always keep updated in the industry you work in as well. Why is this important? By keeping updated with the world, you will constantly be exposed to new topics, events, and sources of inspiration. Take it one step further and think about what is happening around you and why it is happening. By doing so, you can regularly train your critical thinking and creativity. This is a great habit to keep your mind active.
With an unprecedented speed of technological developments, make sure to stay updated with the latest tech trends. Most of the workforce had to work at home and get used to the new virtual systems during the pandemic. Although it’s not easy to become an expert in something new, it’s becoming increasingly necessary to be well versed in social media platforms, basic data science, and basic programming. Your knowledge of any of these topics can increase with training, but what is important is that you show the initiative to pay attention to and to actively learn more about them. Training yourself to stay up to date with the latest technological trends will help you ensure that you don’t get left behind the next time technology changes how we interact with the world.
Ready to face the world with these new tips? Keep checking Moves to get more information on financial help for self-employed workers!
If you are currently a food delivery driver, then you must be familiar with the all too frequent story of tipless customers. It is never pleasant to have your efforts unrecognized, but do not let that stop you from putting your best foot forward every time. Here at Moves, we want to help you reach your peak financial opportunity, and so below are a few tips to help you maximize your tips after a food delivery!
With Uber and takeout delivery sweeping major cities by storm, it may be hard to seek out more diverse gig work and freelance opportunities. Embrace your unique skill set and do not be afraid to try something new. You never know if it is the platform you have been looking for.
The rapid development of modern technology is second to none and because of that, employers are always looking to hire those who show an eager approach to lifelong learning. Whether you are just starting out in the freelancing world or have gained momentum over the past few months, it is never too early or too late to keep sharpening your skills and improving your services.
The job market is changing at a rapid pace as more individuals are leaning away from traditional jobs towards independent gig work. While becoming a gig worker will give you great perks like flexible hours and independence, it can come with unstable income and financial volatility. As a gig worker, you will need to be prepared financially during off-seasons or when there isn’t enough work available.
You may be wondering, what is income volatility? Or what is irregular income? Income volatility is about change and unpredictability when it comes to how much money you are making. The higher the volatility, the more uncertainty there is. Having an unstable income can be difficult when you are trying to reach your financial goals. This is becoming more common as gig work is an important part of today’s labor market.
As outlined in our Ultimate Guide to Working in the Gig Economy, the world of work is changing and the gig economy has been on the rise. Approximately one in six workers is self-employed, with many working for gig platforms as a driver or food courier. The main difference between a gig worker and a traditional salaried worker is the fluctuation of income. Traditional 9-5 workers can expect relatively the same salary at each payday, however gig workers can see spikes and dips in their income over time.
Income instability is prevalent for gig workers because most, if not all of the work is based on demand. If demand is low, then there is less work for gig workers. This tends to happen a lot during slower seasons or when unexpected events happen. The beginning of the year tends to be slower for rideshare drivers after the holiday parties are done and consumers ease down on their spending.
On the other end, a more sudden and drastic example includes the effects of the pandemic where most workplaces suddenly had to close their offices. This meant significantly fewer people needed to leave the house, bringing the demand for rideshare drivers down within a matter of days. Having income instability makes it difficult to tackle extreme events like this.
To get a better understanding of the negative effects of financial volatility, we can look at the following income volatility statistic here:
“Swings in monthly income, whether due to gig work or not, have been linked to a range of negative financial effects, including lower overall savings and a higher rate of missed bill and mortgage payments”.
Irregular income planning as a gig worker is important for working towards both short and long-term financial goals. When you have control over your income changes, you will be better prepared during slower months, unexpected events, and for a post-COVID future. Here are seven tips to help you manage unstable income and financial volatility as a gig worker.
Since gig work has more variation in income month to month, it’s important to cut variable expenses when possible. Fixed expenses are costs that stay the same period to period, such as rent. Whereas variable expenses are costs that change and are often not necessary. This can include eating at restaurants, buying clothes, or going to the movies.
You should try to keep your expenses low if financial security is a concern to you, especially because your income can vary from month to month. You need to prepare for periods of time where projects may not be available and your income may be inconsistent. With the extra money, you can put it aside for your savings or emergency funds.
Those with children will often ask how can a family prepare for income volatility. Having an emergency fund is crucial to building a cushion for you and your family to fall back on. This is important because you’re not only looking out for yourself but for those you are caring for.
We recommend saving enough money to cover living expenses for at least 5-8 months. Unprecedented situations may arise that need extra cash on hand, like medical costs or months that have a lower income stream. To prepare for this, we recommend putting aside 10% of your paycheck from high-income months if you can towards a savings account.
Your emergency fund should be in an easily accessible account. It should be in either your checking or short-term savings account depending on how much you have put aside. You want to be able to withdraw the money anytime without any penalties because life events and expenses can happen unexpectedly.
It’s never too late to start saving money and properly manage your finances. Being financially responsible is important not only for you now, but allows you to have greater opportunities to build your wealth in the long term. If you don’t already have a savings account, you should start building one. You can start small and slowly add to it each month. During months you have more income coming in, you can contribute more to your savings.
Think of a few short and long term financial goals you can work towards. Having a goal in mind will give you the motivation to put money aside each month. You will need to think of the larger picture to keep you on track. This can be anything from saving for a transportation upgrade or purchasing a home. If you have young children, this could mean saving up for their post-secondary tuition.
Many people fall into the habit of tossing their receipts as soon as they get home. This can make tracking your spending and expenses quite messy. Keeping all of your receipts until the end of the month and going through each one will give you a better idea of where your money is going. It will help you reevaluate your financial choices from month to month and how you can better build financial stability.
Keeping receipts on hand can also be helpful when it comes to tax season. Business costs such as gas and upgrades can potentially be expensed to reduce the amount of taxes you owe. It is best to do your research to see what can be expensed and keep the receipts for them.
As an independent contractor and gig worker, you are responsible for filing your own taxes. You should set aside at least 20% of your income for tax purposes. Keeping a record of your expenses, receipts, and income will make filing for taxes much easier.
Your mentality matters when it comes to managing unstable income. Buying a new TV or saving up for a down payment are examples of larger purchases that require savings. Keeping these end goals in mind when you are planning your finances around an unstable income will help keep you on track. It encourages you to minimize impulsive purchases and finding ways to cut variable costs. Think of where you want to be in a few years and how you will get there.
You don’t have to feel alone when unexpected expenses come up, like a flat tire or a dead battery on your delivery vehicle. Having some form of a financial safety net will help relieve financial stress during slow months when you’re not earning as much as you would like. This can be having family members to turn to or a line of credit you can use.
We recommend applying for affordable loans that will allow you to borrow money with lower interest fees and flexible repayment plans. It’s important to try staying away from payday loans because while you can easily get a hold on cash, the interest fees can make it incredibly expensive to pay off. They can trap you in a cycle of debt, especially if you have poor credit or no savings.
With all of these steps in mind, you can start building up your financial reputation as a gig worker. Once you start building your financial safety net with savings, an emergency fund, and an affordable line of credit you can rely on, you will feel confident each month regardless of the income fluctuation.
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