Hubs and I both get paid salary + commission. My checks still are pretty stable month to month, but his commission checks have huge variations. It's very frustrating because it can be hard to make financial decisions. For instance I would love to consider going back to work part time. With what hubs is making right now we could afford for me to not go back at all so part time would be no issue. But we just don't know how things will look a year down the road and we're not willing to risk sacrificing disposable income. Anyone else deal with this?
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My DH does and its tough. He is in a slow period right now. The holidays are the busy season. We pretty much just try to budget off the low amount.
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I do! I'm a photographer, so my income is 100% commission-based. It's not as much of an issue for us though, since my husband is the primary provider, and is salaried.
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DH gets a base salary, but most of his/our income is his bonus, which varies year to year. We do try and live off his base only, since his bonus can be so varied.
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DH's old job was commission based and it was really unpredictable. luckily he got a better job with a fixed income right around the time our baby was born.
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Both DH and I are entirely commission based. We have to be very conscious of saving and the fluctuations throughout the year. It has definitely been a bit stressful for me thinking of having zero income for whatever length of time I decide to take off and our other source of income not being stable.
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@MamaMoose: I read this but didn't comment since the work I did that was commission based was just part-time. BUT I just got this in my email from a blog I subscribe to and thought maybe it'd be of interest to you. It also links to a Dave Ramsey article along the same lines
http://realwaystoearnmoneyonline.com/2013/01/how-to-manage-on-an-inconsistent-income.html
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DH doesn't get paid on commission, but I know the feeling since he gets paid hourly and some weeks are slow. In his contract, he has to have at least 40 hours a week but most weeks he works 60-70 and it would be nice to rely on those hours so we could pay off more debt or plan vacations. We have to put that money aside and live off of the 40 hour amount to be on the safe side. It's frustrating.
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My husband is paid salary + commission. We basically have to plan to leave on just his salary for worst case scenario. Anything else he makes we look at as a bonus and try to put it right into savings to forget about it. Definitely hard to get used to but we've made it work. Also was a factor in me deciding to go back to work part-time.
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Like @hilsy85 my husband also earns a base salary but most of his annual compensation comes from his bonus. This varies from year to year but we have a pretty good idea of what we can expect, at worst. We live off of his base but if we were to find out that he would not be receiving a bonus, we would probably have to meaningfully alter our lifestyle.
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9 comments