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How do you deal with income insecurity? (alien.top)

submitted 2 years ago by happycatt31@alien.top to c/entrepreneur@indiehackers.space

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My income varies so wildly that I can earn $15k one month and $1k the next. I have multiple projects and sometimes a product goes viral and does really well.

Due to how my income goes up and down constantly, I generally just feel poor and in constant struggle mode.

The project I'm most passionate about also does the least well financially. I'm not super ambitious, I started my company to try to make a difference. I'm thinking of getting a job again after 8 years of being self-employed.

Anyone relate?

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[–] Limp_Mixture@alien.top 1 points 2 years ago

Nobody can tell you what is best. Do what you think will make you happy.

I would say it might be a good idea to develop a nest egg of funds you can draw from during those 1k months. I try and keep at least 3 months of funds saved for my business, in case I hit a lean time.

It also seems like you at least need to have an idea of your average annual income and expenses so you can then plan and expand.