If you’re a freelancer, gig worker, or entrepreneur, you know the struggle, some months, money flows in easily. Other months? It disappears before mid-month. Managing money without a steady paycheck can feel stressful, but it doesn’t have to be.
1. Know your average monthly income
Look back at the last 6–12 months and calculate your average monthly income. This gives you a reliable baseline for budgeting, even when your actual income varies.
Example:
If you made PHP 50,000 one month and PHP 30,000 the next, budget based on PHP 40,000.
2. Budget based on the lowest month
Create a budget using your lowest earning month to avoid overspending when you earn more. If you can live off your lowest income, you’ll have leftover cash when you earn more, which you can save or use for leaner months.
3. Separate business & personal finances
Keep your income in a main account, and transfer a fixed “salary” to your personal account each month. This smooths out your cash flow.
4. Build a “buffer fund” (a.k.a. mini emergency fund)
Aim to save 1–2 months of living expenses. This acts as a cushion when income is slow.
Even saving PHP 500–1,000 per week helps over time.
5. Track every peso
Use an app or spreadsheet to track your spending. This keeps you aware and helps prevent impulse buying when you feel “broke.”
6. Prioritize your expenses
List your expenses in this order:
- Essentials (rent, food, bills)
- Financial goals (savings, debt payments)
- Non-essentials (shopping, eating out)
Only spend on non-essentials when income allows.
7. Treat windfalls wisely
When you earn more than usual, avoid lifestyle inflation. Instead:
- Save a portion (e.g. 50%)
- Pay off debts
- Fund your buffer or long-term goals
8. Set mini payday systems
Pay yourself every week or twice a month, even if you get paid randomly. This creates stability and reduces that “broke” feeling.
You don’t need a fixed salary to feel in control of your money. With a steady budget, savings buffer, and realistic income average, you can stop the feast-or-famine cycle and build financial stability.
