Money Matters: Welcome Back Hoot Squad! Let’s talk money—specifically, how to handle it when your income doesn’t come in neatly wrapped bi-weekly paychecks. 

Whether you’re freelancing, side hustling, or a commission exclusive warrior, budgeting with an irregular income can feel like trying to pin down a cocaine addicted cat. 

But don’t sweat it. Here’s the Hoot-approved, no-fluff guide to keeping your finances steady when your paycheck isn’t.

Survey says: Freelancers grew to an estimated 76.4 million in 2024 earning an average of $21 dollars per hour. Not too shabby for a job you can do in your pajamas.

Here is what on that portioned plate today:

😎 Our Favorite Resources
👍 Budget wisdom for our irregular earners
❓ Bonus Tip: the secret budgeting action that makes you more money
🤷‍♀️ What’s up for next week

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Cool Links

Our favorite resources

💵Budgeting

• Free assets for managing your finances can be found all over the web. Check out My Money for calculators, spreadsheets, and checklist to get started or to expand your current tools!

🏃Side Hustles

• Looking for a side hustle? Head over to Side Hustle School for ideas, inspiration, and resources. I particularly enjoyed the episode on chicken saddles.

📜Quote

•  “There is no doubt that life can be a bumpy ride. But so were those roller coasters you loved as a kid. Savor the adventure. Find excitement in the uncertainty and the constant change.” - Jonathan Lockwood Huie

Today’s Main Event

7 Tactics That CRUSH Budgets With Irregular Incomes

Living life on an irregular income is like riding a rollercoaster: thrilling when you're up, nerve-wracking when you're down.

So for all you side hustlers and freelancers out there, here’s your playbook for budgeting like a pro, even when the cash flow is unpredictable.

1. Build a "Rollercoaster Fund"

When riding a rollercoaster, you know it’s going down at some point and more than a few times. It’s easier to enjoy the ride when you know the track’s not going to run out and leave you wishing you had stood in the line for the teacups.

Think of this fund as a buffer for the low-income months. Aim to stash away 3–6 months' worth of essential expenses.

Every time you hit a big payday, funnel a chunk into this fund. It's your financial cushion for those lean times.

Pro Tip: Automate it. Set up a system that automatically moves a percentage of your income into a high-yield savings account.

2. Find Your "Bare Minimum" Number

Knowing this exact figure helps you identify where to cut back during lean times and gives you a solid target for savings goals.

Determine the absolute basics: housing, food, utilities, transportation, and insurance.

Calculate how much you need to survive each month. This is your "non-negotiable" number.

Pro Tip: Break it down into categories. Start with non-negotiables like housing, utilities, food, and transportation. Then, add any essential recurring costs (e.g., insurance, minimum debt payments).

3. Create Two Budgets: Feast & Famine

Nobody wants to be the one buy with a single roll of toilet paper when the blizzard hits. Take some time to buy a few extra 12 packs when your wallets fat.

When the money’s flowing, think like a wise merchant and not a king, live within your means and save the excess.

On those lean months, switch to a “famine” budget that only covers the essentials. Being prepared for both scenarios helps you avoid financial whiplash.

Pro Tip: Write both budgets down and keep them handy. When income fluctuates, switch between them without hesitation.

4. Pay Yourself First

Before diving into the luxuries like lattes and avocado toast, set aside money for Future You. Prioritize financial stability over immediate gratification. It’d suck to wake up in a cardboard box by a dumpster.

Allocate money for savings, taxes, and retirement before you touch the rest.

Land a bigger payday? Stash more moolah into those rainy day funds.

Pro Tip: Automate transfers to savings and tax accounts the moment a payment hits. This keeps you prepped for tax season so Uncle Sam doesn’t surprise you.

5. Get Real With Variable Expenses

Ever catch yourself mindlessly buying a pack of gum, candy bar or tabloid at the checkout counter? You might just be a prime candidate for the track-your-money club!

Keep track of where your money goes and identify areas you can cut back when needed.

Apps like YNAB, Mint, or even a good ol’ spreadsheet can help you lock things down and keep them tight.

Pro Tip: Set a recurring reminder to log expenses daily. This habit takes less than 5 minutes and keeps you in control of your finances.

Step 6: Diversify Your Hustle

Payday late yet again? One income stream is risky when it’s unpredictable. Take control and diversify!

Revive grandpa Jo’s “Too Hot for Your Booty” hot sauce recipe and fire up a side hustle. No secret family recipes? Turn to your hobbies and look for ways to cash in.

Look for passive income opportunities. Have a spare room, rent it out. Have a drive full of digital photos that are bangers? Load them up on a stock photos site.

 Pro Tip: Don’t just think about earning more—think about scalable income. For example, sell a digital product or monetize your expertise with an online course.

TL;DR: The Hoot Squad Wrap Up

• Save for slow months with a dedicated “just in case” fund.

• Know your essential expenses down to the dollar.

• Create “feast” and “famine” budgets for flexibility.

• Always pay yourself first (savings and taxes are non-negotiable).

• Track every dollar to keep spending in check.

• Diversify your income streams to stay ahead.

Bonus Tip: Schedule A Monthly Money Date

Let’s be honest for a minute. If you want to make this whole budgeting thing work, then you and your budget need a little quality time.

Once a month, grab a coffee, pull up your numbers, and assess the damage.

Adjust, tweak, and set mini goals for the next month. This will keep things fresh and on-track!

Pro Tip:: Pair this with a reward. For every financial win, treat yourself to something small. Your brain loves incentives— like wine…or cookies.

Until Next Time

What’s Up Next Week

Budgeting with irregular income isn’t rocket science, but it does require a plan (and, let’s be honest, a little dash of humor).

Stick with it, and you’ll turn those financial rollercoasters into kiddie rides in no time at all!

Next week move over Gordan Ramsay because we’re cooking on a budget for a family of four (or more)!

As always, if you have questions or have a topic-itch that needs some good ol’ fashion scratchin’, let us know!

-Hoot Squad

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.