Prioritized Spending Plan

When you're getting an irregular income, Dave says that you have to make a prioritized spending plan.

QUESTION: Brad has an irregular income and he’s paid weekly. His average yearly income is about $60,000 and he wants to know how he can budget on a weekly basis. Dave explains the beauty of the prioritized spending plan.

ANSWER: Sharon and I faced the same thing early in our marriage. I made a list of every single thing I needed to do with money and put a number by each. Look at that list and thought what the most important thing to do, if I can’t do anything else. If I could do two things, which would I do? Then go right down the list. Prioritize like that and then spend the money according to that prioritized list.