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  1. #1
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    Default Structuring finances with self employed hubby

    Hi wise ladies of BH land

    Im after some advice on what people do who's partner is self employed and on a sporadic income.

    Eg making weekly payments for things such as rent, bills, food, etc etc.

    Obviously the main thing would be to have enough savings to cover these payments each week.

    However what happens when your savings runs out, or if your partner doesn't get paid some times for weeks at a time?

    Do you have a business overdraft, or line of credit.

    Im a bit clueless sorry ladies and hoping that i have explained clearly.

    Thanks in advance

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    We pay ourselves a weekly wage to cover all the necessities, then just take extra when we reach targets , we also have an Amex as "emergency money " if we are waiting on commissions to come through but really yes you need savings to cover you for at least 3 months as a "just in case" when times are tough (we try to have 3 months of our wages and 3 months of offices expenses saved - we have 8 other staff to pay) we have an offset account through our home loans that we can also access if need be so most of our extra money goes into that

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    .
    Last edited by Full House; 28-09-2016 at 02:55.

  4. #4
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    Thanks ladies.

    I prefer not to rely on a credit card as it has the potential to spiral out of control.

    Any other suggestions?

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    DP is self employed we have 2 incomes though mine and his although I'm on mat leave til June next year I'm predominately being paid until end of Jan. He pays himself a set amount each week but when payments aren't coming in for his work he will cut back his pay etc. what type of work does you DH do ?

  6. #6
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    Thanks so much for everyones input, much appreciated


 

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