Saskatoon Mortgage Broker shares article – How to pay yourself a salary when your income is sporadic


Dear Pete article

…Begin by figuring out exactly how much it costs you to live for a 30-day period. Stick to the necessities, and keep the discretionary expenditures to a reasonable minimum. Once you’ve come to a total, subtract off any fixed income that comes into your household on a monthly basis. This fixed income could be a significant other’s income, or maybe you have a small part-time job with a consistent income. For instance, if you spend $3,500 every 30 days (all bills included), and your significant other’s income is $1,200 per month, then you are left with $2,300 of obligations your income must fund. That’s your salary now…

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