How To Manage Your Cashflow & Budget – Self Employed/Freelance/ Commission Income

How To Manage Your Cashflow & Budget – Self Employed/Freelance/ Commission Income

The budgeting app will be ready soon, but in the meantime you can get the complementary budget from subscribing to the SugarMamma website. www.SugarMamma.TV

The most important point that I am suggesting in managing yours cash flow and budgeting if you are self employed or earning an income that varies from week to week or month to month is that you try and create some consistency from month to month in your income and your expenses. So you build up a holding tank, that you pay you a set amount each week/fortnight or month. This helps average the money out.
The second tip is to have a budget and match it against your calendar so that you always know what is due, how much and when. Then you can proactively prepare for those bills and feel great paying them on time.
Managing cash flows and budgets is hard, but it gets easier with practice and always try and avoiding using credit cards as this adds another element to budget and juggle. (Unless you are really good with debt and value the offers and benefits of a credit card).

Feel free to ask any questions and let me know if you have any video requests!

xCC

SugarMamma.TV is all about educating, inspiring and empowering everyday people to create financial harmony, freedom and independence in your life. Bite sized videos, with quick and easy to understand tips, that you can apply straight away and see the results. SugarMamma.TV is a powerful movement making money and finance more approachable, energetic and enlightening.

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Jackie Garcia says:

Hello! I just went through a hurricane in Florida and wanted to know if you have an emergency binder of important documents , and if so what do you keep in it?
I was making copies of some stuff but I want to be better prepared for future storms or emergencies.

Mz. Happy feet says:

love your videos Canna… to many accounts

Mz. Happy feet says:

love your videos Canna… to many accounts

Jesse Alejano says:

Great ideas on how many accounts to have an how to use them. Do you have any similar videos but targeted at couples? It would be great to get some ideas on how to set this up together.

TIUlove says:

Hi Canna could you do a video on spending money on fitness?? I struggle with spending enough on classes and clothes to stay a bit motivated but also want to keep in under control. I don't live in an area that is safe to run in the early morning or evening when I have free time. Any suggestions for managing finances for fitness? Thanks!

p.s. You are such an inspiration!!!

Heather Garner says:

Hi Canna,
What would be your advice on purchasing something expensive like a car?
Obviously paying cash is best but our car has broken unexpectedly (highlighting the need for a bigger buffer!) Is getting a car on finance the end of our debt free dream for another 5 years? 😞

Browntinkerbelle says:

Opened my accounts today and set up my auto transfers based on my budget. So excited! Thanks for this video❀️

Jesus Villalobos says:

Hey I was just thinking about how you make $2,000 in dividends. Can you make a video about that.
If you do can you cover how much money you put in to hit that $2,000 goal?
What stocks did you buy and how did you know how much they pay out?

Beth Holmes says:

I look forward to your videos more than any others to which I subscribe! I find your advice incredibly motivating. I'm 50 with a daughter in college, and you have turned around my thinking on how I approach my finances. I'm SO very grateful to you for your advice and inspiration! Keep it coming!! Love Lifestyle Love as well!!! xo and Thank you, Canna!

Divya says:

Great video Canna (as always) 😊. You're such an inspiration to mothers like me who are juggling motherhood and career. I've learned a lot about finances and also other aspects of life by watching your videos. I've been asking my friends here in Sydney to start watching your videos as soon as they start whining about their finances 😊. Anyway, keep up the good work. Thanks, Divya

Kezza73 says:

Amen for the minimum weekly spend budgeted. The emergency fund looks a bit better having tightened up on weekly expenses over the past month – a buffer is everything.

saldabbagh says:

Hi Canna please could u do a video on how u manage ur time & lead a balanced life, juggling work life being a mom, ur health, family and relationships! Thanks πŸ™‚ Β XXX

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Kel Harri says:

Fantastic! Thanks, Canna πŸ™‚ I was going to ask you if you would consider doing a budget video… and here it is! Great info! Thanks so much xx

Erin Jordan says:

Your videos are so great and I've been watching for a few years. The advice is realistic, in a world where people are buying into "get rich quick" schemes. What comes to mind is people (often perfectly reasonable people) who buy into multi-level marketing schemes with the assumption that they'll be making six-figures almost automatically and quickly. Any chance you can do a cautionary video on what you see people falling for in the name of getting rich quick?

steve19195 says:

Lovely video as always. I am looking forward to your app..!

TheWildbill242 says:

This is the kind of financial information that should be taught in school; especially in the US.

Heloise Eliot says:

You are godsend. Thank you for everything you do for us. Just… thank you <3

Michela Rosier says:

Thank for sharing this video. I really look forward to your video every week. Also great ideas to add in my life. Thank you.

OriginalRipndip says:

Can you leave the spreadsheet/ subscriber link in a reply or in the description?

Cynthia Rodriguez says:

Opening another account right now! Great advice. Thank you for sharing 😊

L.K says:

this might be a silly question, but I was just wondering when you talk about all these different accounts, are these all current accounts? Can we open multiple current accounts with one bank or do we need to go to different banks? I imagine this could get complicated with different banks? sorry if its silly I'm just not very informed about what banks offer either tbh :S

Louise says:

Creating your own "base" salary – I love this in particular Canna! I'm going to review my budget again and put this into play. Great advice as always πŸ–’x

Brooke E says:

Can't wait for cashflow for students πŸ‘πŸΌ

Paula Porras says:

Omg the app sounds excellent, I hope it's available in Android cause I'm needing an app pronto

c1re5an says:

I find that nowadays, with smartphone pay systems, it's even more difficult to control and keep track of your expenses. I seldom use cash nor a card anymore

Anggi Puspa Pradhini says:

Great video as always Canna πŸ™‚ love you and your family :))

The Everyday Organiser says:

Thanks Canna!

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