What percentage of his summer income should we tuck away into savings to get us comfortably through the winter?
I know this will be easy to calculate after he works in sales for a full year, but right now we just have to make our best guess.Looking for advice from those of you whose income varies by season?
You can't make a 'best guess' without knowing, but you can make a conservative estimate.
Put 50% of your summer money away to live on during the winter. I know that sounds like a lot, but next year, you'll have a better idea of what you'll need to save.Looking for advice from those of you whose income varies by season?
I'd save close to 100% of his ';raise'; until you get a better grip on what his income might look like during the cold months.
In other words, if he was making $3,500 a month and with the new job he brings in a nice $5,500 commission check, then I'd put $2,000 aside that month. I would very much recommend keeping a separate bank account to ';sweep'; the commission checks into.
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