Comments on: A Simple Trick for Managing Bills on a Variable Monthly Income http://lenpenzo.com/blog/id610-a-simple-trick-for-managing-bills-on-a-variable-monthly-income.html The offbeat personal finance blog for responsible people. Fri, 17 Feb 2012 00:33:27 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Manager http://lenpenzo.com/blog/id610-a-simple-trick-for-managing-bills-on-a-variable-monthly-income.html#comment-140513 Manager Sun, 27 Nov 2011 17:30:15 +0000 http://lenpenzo.com/blog/?p=610#comment-140513 Working in sales can be a killer on finances sometimes. Dealing with the feast versus famine months can be tough. I set a minimum budget I need to meet each month as well as a "maximum I'm allowed to spend" budget. When you have a month where you get a great commission it is far too easy to blow it all thinking that another big check is on its way next month. So I set a maximum I'm allowed to spend. If there is something I really want outside of that maximum, I put the money into a separate savings and I have to wait until the next month or month after to save enough. Working in sales can be a killer on finances sometimes. Dealing with the feast versus famine months can be tough. I set a minimum budget I need to meet each month as well as a “maximum I’m allowed to spend” budget. When you have a month where you get a great commission it is far too easy to blow it all thinking that another big check is on its way next month. So I set a maximum I’m allowed to spend. If there is something I really want outside of that maximum, I put the money into a separate savings and I have to wait until the next month or month after to save enough.

]]> By: GMM http://lenpenzo.com/blog/id610-a-simple-trick-for-managing-bills-on-a-variable-monthly-income.html#comment-363 GMM Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=610#comment-363 Very clever approach. Back when I was a server in a restaruant and living on my own, it seemed like I had one or two months every year when I had to ask my landlord for a couple extra weeks grace period because I had a slow month. I figured it was easier to put it off on him instead of not paying my car payment. lol Lucky for me he was understanding. Maybe your plan would have saved me some trouble. Very clever approach. Back when I was a server in a restaruant and living on my own, it seemed like I had one or two months every year when I had to ask my landlord for a couple extra weeks grace period because I had a slow month. I figured it was easier to put it off on him instead of not paying my car payment. lol

Lucky for me he was understanding. Maybe your plan would have saved me some trouble.

]]> By: Bill http://lenpenzo.com/blog/id610-a-simple-trick-for-managing-bills-on-a-variable-monthly-income.html#comment-364 Bill Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=610#comment-364 I like it. Like that reader, I work in sales too -- so I can relate to his concerns about having to juggle paying bills during months when I didn't make my targets and still have extra to save for expensive stuff like a vacation cruise or new car. Now I am trying to save for a house too, and I think this idea is really a pretty good one. I'm excited to try it out. Great post Len. WSM I like it. Like that reader, I work in sales too — so I can relate to his concerns about having to juggle paying bills during months when I didn’t make my targets and still have extra to save for expensive stuff like a vacation cruise or new car. Now I am trying to save for a house too, and I think this idea is really a pretty good one. I’m excited to try it out.

Great post Len.

WSM

]]> By: Wheezer http://lenpenzo.com/blog/id610-a-simple-trick-for-managing-bills-on-a-variable-monthly-income.html#comment-365 Wheezer Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=610#comment-365 I don't know if I could handle 3 different savings accounts. There has got to be a better way, don't you think? I don’t know if I could handle 3 different savings accounts. There has got to be a better way, don’t you think?

]]> By: Len Penzo http://lenpenzo.com/blog/id610-a-simple-trick-for-managing-bills-on-a-variable-monthly-income.html#comment-366 Len Penzo Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=610#comment-366 @GMM: I bet it would have. @Bill: Thanks, and keep me posted on how you're doing! @Wheezer: Actually, if you are truly disciplined, I don't think this technique is necessary. The trouble is, I'd say maybe 1 in 5 households are disciplined enough to get away without using this method. That said, I think this is the best alternative for the other 4 out 5 households out there. Thanks for commenting! My $0.02 (after taxes) Len @GMM: I bet it would have.

@Bill: Thanks, and keep me posted on how you’re doing!

@Wheezer: Actually, if you are truly disciplined, I don’t think this technique is necessary. The trouble is, I’d say maybe 1 in 5 households are disciplined enough to get away without using this method. That said, I think this is the best alternative for the other 4 out 5 households out there. Thanks for commenting!

My $0.02 (after taxes)

Len

]]>