8 Ways Gig Workers Can Build Financial Stability
- By
Julia Austin
Create A Budget Tailored To The Gig Economy
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If you have been a gig worker for some time now, sit down and look at your income and spending each month for the previous year. See how much money came in and went out on average each month. Unless there have been major changes to your income, this is a great starting point from which to build a budget. Create a budget that allows you to cover your basic needs (housing, food, car, utilities, health insurance) leaves money for your taxes (which we’ll get to) and additionally allows you to put aside money each month – both for your Roth IRA contribution, and an emergency savings fund. It is recommended to have an emergency savings fund equal to between three and six months’ worth of expenses.
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