University of Illinois Extension

Step1: Your monthly expenses

Step 2: Expenses, fixed and variable

Step 3: Your income

Step 4: Balance income and expenses

Step 5: Put the spending plan into action

Step 6: Review and revise the plan

How to manage on a seasonal or irregular income

Having financial troubles?

For further reading/ References

 

 

 

<FONT size=5 color="#6699CC"><B>Some important steps to plan for and carry out

Add your current total family income from all sources. Include income from other family members if it is used for family expenses. Use the take-home amount, or what you actually have to spend after deductions. Write the type and amount of your income on the Income worksheet. Do you receive income from any of these sources?

  • Earnings from employed family members

  • Interest from checking or savings accounts or a credit union

  • Tips or commissions

  • Interest or dividends

  • Gifts from family or friends

  • Child support or alimony

  • Income from inheritances and trusts

  • Unemployment compensation

  • Educational scholarships

  • Social Security/pensions/annuities

  • Supplemental Security Income (SSI for Disability)

  • Public assistance, food stamps

  • Veterans' benefits


 

 

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