Why fluctuating income is alright

Image via Thinkstock

Image via Thinkstock

Be responsible, not naïve

By Elliot Chan, Opinions Editor

Take a look at your finances: do they look the like the peaks and valleys of North Vancouver? Probably, right? Many of us dream of a consistent cash flow where we can buy what we need and still have extra money to get what we want. However, for most of us in college, university, or simply pursuing a volatile career, we cannot always bet that funds will be there when we need them. So does that mean we are destined for a life of uncertainty?

Now, I’m not going to guarantee your success. Living on a fluctuating income is anything but a guarantee, so I’m not going to sugarcoat it. There will be days where paycheques are bursting from your wallet and other days where you are certain bankruptcy is just around the corner. The highs will be high and the lows will be horrendous. The key for living with inconsistency is to even out the peaks and valleys so there is some certainty.

When you do have an influx of money, don’t spend it immediately on something frivolous. Pocket it. Prepare for those downhill moments when a few extra dollars can make a big difference. Break it down to what you must have and what you could have, the leftover bits can then be set aside for indulgences like a night out, a new piece of technology, or a trip somewhere exotic—the choice is yours.

Think of your income as a whole entity and then break it up into various parts performing different duties for you. Determine an amount for savings and investments. I’m not the biggest believer in savings, because I enjoy living for the moment. The thing is I don’t want to be hungry and living on the street. If work dries up or an accident happens, make sure you have a bit of a cushion. Tax-free savings tend to be a good option for students and post-graduates because of the low-risk money saving attributes. You won’t get rich, but it might save you from being broke. Then determine what you have for survival: rent, food, fuel, and social life.

Don’t be naïve. It’s true that in the end everything will probably be alright—after all, we live in a society where nobody starves. Alright might mean returning home to your parents. Alright might mean being in debt for a few decades more than expected. Alright might mean job-hunting for several more seasons. Alright can mean different things to different people. You don’t want to be alright, you want to be well-off. So with something like inconsistent income, it’s critical to be responsible and resist lifestyle inflation until you have established some balance. Peaks and valleys are great for a rollercoaster, but it’s sure exhausting on a daily basis.

The Other Press

The Other Press, Douglas College's student newspaper since 1976. Articles, insight and updates from the New West and Coquitlam campuses.

More Posts - Website

2,535 comments on “Why fluctuating income is alright
  1. ご指摘の通り、キャッシングを利用して手軽に高価なショッピングを楽しむ方も増えてきているようですが、キャッシングには良いことばかりではないと言えます。
    運用の際に注意しないと、大きな損害になりかねません。
    キャッシングを運用する際は最初に審査を受けることになりますが、審査に受かるのは思いのほか簡単なようですし、審査スピードもとても早いです。今日中に借りることも最近では可能な金融会社が多いのです。
    一方で、当然のことながら、キャッシングで借金をしたら毎月決まった金額を支払っていくことになりますが、当然利息分も支払います。
    キャッシングの金利というのは、自分が借りた額より多くの金銭を返しているのです。
    お金を返す月日が長期なほど、金利の額も多くなる計算になります。
    ですので、ボーナスなどでお金ができたら一括返済することを考えてみましょう。
    ほんのちょっとの弁済だとしても、一括返済が可能なら利息分の弁済が無用になります。
    始めに借りた金額(元金)以上を返済することになるのですから、一括返済をすればどれ位軽くなるのか想像がつきます。
    一括返済をしたら、返すお金がどのくらい落とせるかを理解することができるでしょう。
    キャッシングは利息が高いので借りている場合、よけいに一括返済をしたほうがよいでしょう。

  2. Hi, I do think this is an excellent website. I stumbledupon it 😉 I will revisit once
    again since I book-marked it. Money and freedom is the best
    way to change, may you be rich and continue to guide other people.

  3. Functionality of the mens Adidas superstar sneakers on the market can be
    pondered about for minor elements like pockets,
    buttons and many others.

  4. As soon as you hire a firm, in San Jose, Sunnyvale, Santa Clara, Mountain Sight, Milpitas,
    Palo Alto, Cupertino, Gilroy, Campbell, Morgan Hillside, or among the surrounding towns, it will certainly be necessary to keep in contact with
    the insect control business to make sure everything is going inning accordance with plan as well
    as not a problem have actually come up while doing so, such as there being
    a larger problem than at first assumed.

  5. Our Bed mattress Company in Fond Du Lac, Wisconsin offers same day Red Carpeting distribution and
    our distinct shade by comfort matching system overviews consumers in choosing the right cushions for
    their individual needs.

  6. Our capacity to generate kitchen and bathroom layouts which are superior in function and appeal is unmatched in the Waukesha remodeling market.

  7. A new technology introduced by one of the biggest automobile companies,
    Volvo, will ensure that your car avoid accidents on the roads involving pedestrians.
    All since then, Indica is floating in the market with a regular sale.
    You can visit Monaco Motors for your classic car’s regular check-up and you can also do your own daily car care so your vintage car will look as
    new and luxurious as ever.

  8. Hey! I just wanted to ask if you ever have any trouble with hackers?
    My last blog (wordpress) was hacked and I ended up losing several weeks of hard work due
    to no back up. Do you have any solutions to prevent hackers?

  9. If you guys still do updates, Split’s club crawl is called The Tower Bar Crawl
    Split”, price 150 kuna (eu 20) and does now without a doubt consist of a free tshirt, the power hour was reached 90 minutes and also it’s all you could consume alcohol beer, wine, vodka, scotch, rum with mixers, plus vodka shooters:-RRB- runs June through September, thanks!

  10. Hello there! Do you know if they make any plugins to protrect against hackers?
    I’m kkinda paranoid about losing everything I’ve worked
    hardd on. Any suggestions?

  11. Hi there! This is my 1st comment here so I just wanted to give a
    quick shout out and say I really enjoy reading through your blog
    posts. Can you recommend any other blogs/websites/forums that deal
    with the same subjects? Thanks!

Leave a Reply

Your email address will not be published.


*