Checking In With My Savings Plan: June 2017 Edition
In June, I received $3,388.07 in freelance earnings. Here’s what I put in my sub-savings accounts:
Taxes got 25 percent, or $847.02.
Savings got 15 percent, or $508.21.
That left $2,032.84 for my checking account. That doesn’t leave much after I pay roughly $2,000 in overhead costs (rent, food, bills), but I was expecting June to be a low cashflow month and budgeted accordingly.
In three months we’ll either look at this and say “good planning!” or look at it and laugh.thebillfold.com
I completed a lot of work in June, and I’m expecting all of that work to pay out in July—around $7,700 in pretax checks, which means I will be able to pay off the money I put on my (zero-interest) business credit card and set myself up for August, which should be the month when I pay back the $3,000 checking account buffer that I’ve been drawing from during lower cashflow months.
And then September will probably be one of those lower cashflow months, and I’ll start drawing from that $3,000 buffer again.
So it goes.