))
126 | Optimize Your Earnings: What To Do When You Have Extra Money in Your Paycheck
Manage episode 422014966 series 3426000
Content provided by Keina Newell. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Keina Newell or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In this installment of the podcast series about maximizing your paycheck I am talking about extra income on payday. Overtime, bonuses, and side hustles are a great way to make additional money, but how should you account for this income in your budget?
I want you to be thoughtful, purposeful, and intentional about how you’re paid so you can better manage your money. Properly allocating extra income is crucial to breaking the paycheck-to-paycheck cycle.
The most important thing to remember about extra income is that it is not guaranteed. Bonuses can change, and overtime can be limited, so relying on that money in your budget can throw off your financial plans if you’re not intentional. Learn what money goals to assign to your extra income and why these potential earnings don’t need to be a part of your monthly budget.
Every dollar you make has a job, so listen to how to make the most of your additional income. Stay tuned for insights on these topics:
[02:00] Examples of extra income
[03:25] Why you shouldn’t count extra income in your budget
[06:00] Using extra income to hit discreet goals
[07:17] Why budgeting and a spending plan is important
Tune into this episode of Money Files to learn how to leverage extra income on your paycheck and why you shouldn’t use it when creating a budget.
Get full show notes and the episode transcript:
Links mentioned in this episode…
Set up a call | Financial Coach Washington, DC | Wealth Over Now
166 episodes
Share
