A steady job with a paycheck and benefits may not be a part of the future for some people, and that is just the way they want it.
For many people, being a part of the "gig economy," or an independent contractor, is a great way to work and to live. They have the freedom to choose the work they want and when they want to do it.
According to a report issued last year by Edison Research, almost one fourth of American adults earn money in the gig economy, doing jobs like working for ride sharing companies or selling products or services online.
Along with the reward of being in control of your work, however, you also have the risk of not having a steady income. It can be a balancing act to make sure your income exceeds your expenses every month. The key to managing it successfully is budgeting.
A couple of important reminders for budgeting when your income is not always the same every month:
If you choose to work in the gig economy, you do have to prepare financially since it will not be a steady job. However, you also have an exciting opportunity to create a future with a wonderful work/life balance - and who would not want that?