I can see the light!!
My family is very close to an income breakthrough!!
My husband started selling real estate just over a year ago. He had some early success with big sells, which we promptly poured into our budget and tax savings. He primarily sells vacation properties, which is lucrative once you're well established, but often sees gaps in the beginning.
Well, the gap came...and it lasted from June until December. He had a small sale in December, but it barely paid the bills before it was gone due to a referral fee going to an outside agent. That was not a joyous day at our house.
We have been living on my very modest income, supplemented with side jobs I've been able to pick up, and some help from my parents (I know not everyone has this luxury....we are VERY blessed.) YNAB has been helping us stay on track. We are on a credit card diet, and we have cut way back on most things. (But seriously, can someone help me convince my husband that cable is not necessary?)
Finally, we are starting to see the light!! DH has two sets of showings with strong prospects this week, and at least one more potential client coming his way. It feels as if the burden is starting to lift.
The valleys of our lives are often where new growth is found. Two things I will be taking away from my "valley" experience, both of which YNAB teaches, and both of which I now have first-hand experience with:
1. Save way more than you think you need when you have irregular income. Don't allow lifestyle creep to catch you off guard and make a difficult situation even more desperate.
2. DO NOT count on potential earnings and start making plans before you have money in hand. Deals fall through...referral fees must be paid...a client doesn't pay on time. Murphy's Law is real y'all. So until you have a fat check in your hand, hold off on firing up the budget.
I'll report back when we finally get our big, fat check. Until then, happy budgeting, and thank you YNAB for all the wisdom you share.
I 1,000% agree with both of these points! The year after college I saved $2,000 to move across the country - no job lined up, first time living on my own outside of college, just went for it. Do I need to tell you how long that money lasted, or can you imagine? 😅
I hope that paycheck has come in and that gap is far behind you! :)
Sounds great! Very happy for you. One point that really resonated with me was about not making plans for money before you have it in hand. Boy, have I been burned by that many a time. I'm a painter who sells artwork outside my regular job, and a check can take what feels like ages to come and really mess things up if you're not smart about it. I'm learning... :)