So, you’ve embraced the thrilling, unpredictable world of temporary jobs! Whether you’re a freelancer, a gig worker, or just can’t commit to one job for more than three months (commitment issues, much?), you’re in for an adventure. Managing money when your income is as predictable as a cat’s mood can be tricky. Don’t worry, I’ve got you covered with this almost foolproof guide to financial stability—gig worker style.
Step 1: Embrace the Art of Budgeting (aka Wishful Thinking)
Creating a budget is easy. Sticking to it? That’s where the fun begins. First, take out a piece of paper and write down your expected income. Now, cross that out because we all know that number is about as real as Bigfoot.
Instead, take last month’s income, subtract any random expenses you forgot you had, and voila! That’s your actual income. Allocate 50% to necessities like rent and food, 30% to wants (yes, Netflix is a necessity), and 20% to savings. If your numbers don’t add up, just adjust your expectations—or move in with your parents.
Step 2: Become a Master of Side Hustles
Temporary jobs can be a rollercoaster of income highs and lows. When the lows hit, it’s time to dust off your entrepreneurial spirit and dive into a side hustle. Dog
walking, babysitting, selling your art on Etsy, or even starting a blog about managing money with temporary jobs (meta, right?)—whatever floats your boat! Remember, the goal is to make money, not spend it. So, maybe don’t start a side hustle that requires a hefty initial investment like opening a gourmet doughnut shop.
Step 3: The “Fun” of Emergency Funds
If you don’t have an emergency fund, now’s the time to start one. It’s like the safety net for your safety net. Aim for at least three months of expenses, but if that sounds overwhelming, start with $500 and work your way up. And no, that fund isn’t for “emergency” Black Friday deals. It’s for things like surprise medical bills or your car deciding it’s had enough of your shenanigans!
Step 4: Get Creative with Your Savings
Saving money when you don’t know what your paycheck will look like can be…interesting. Set up automatic transfers to your savings account—on the days you know you’ll have money in your account. Or better yet, use the “roundup” trick: every time you spend money, round up to the nearest dollar and save the change. You’d be surprised how quickly those pennies add up!
Pro tip: Sign up for apps that help you save money effortlessly, like the ones that automatically invest your spare change or give you cashback on purchases. Every little bit helps!
Step 5: Accept the Chaos and Enjoy the Ride
At the end of the day, managing your money with temporary jobs is all about flexibility, creativity, and a healthy sense of humor. There will be ups and downs, but if you’re smart with your spending and save where you can, you’ll be just fine. And hey, if all else fails, you can always write a funny blog about your financial misadventures. Who knows, it might just turn into your next side hustle!
Happy budgeting! Or at least, happy pretending to budget.
Omar Tarango is a Freelance Blogger and Social Media Manager