Paying down debt with a varing salary
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| Mon, 01-04-2010 - 11:02pm |
I need some help with the best way to pay down debt when my husband...who is the main bread winner...has such a varying income. He does get about 65% of his income in paychecks that he gets every two weeks. I also work full-time but I get a set amount on the opposite fridays...except I get half of what he gets. So how do I manage this..the income comes is spurts you never know how much he will get...depends on how well he did for sales that month/quarter. To make a long story short...if we don't go out to eat more than once every other week and don't go with our friends more a couple times a month...we don't need that extra income. But if anything comes up, like a vet bill, car trouble, summer vacations, etc we need this money to pay for it. I am very scared of something happening and not having the money to pay for it. I do have some CC debt..about $3,000 at 2% but that isn't very much and I keep a pretty healthly efund..$10,000.
Any suggestions?



My DH also gets paid in this manner. it is a real pain when you don't know what you will be getting. I have a few bills that come due quarterly at the same time his commission cheques are due. (Medical, insurances that sort of bills) What I have been trying to do is budget our bills to just what his regular cheques and my paycheque is and not really think about how much the commission cheques will be. Other than I know that I will pay medical and insurance out of that. Then anything left can be put towards debt and a holiday/entertainment fund. Hope this helps. it sounds a bit confusing when I try to write it down.
Sharon
I have to agree with the others and did just that at one point when I was on a commission.