Level 4 · ages 16–18OECD PMEarn
Managing part-time & freelance income
🎯 Goal: Know freelance income is irregular, so build a buffer, save high months for low ones, and set aside tax/costs.
Part-time/freelance income is uneven: high some months, low others. Budget on the average, save high months for low ones, and set aside tax/costs.
Let’s explore
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Income fluctuates → budget on the average or low to be safe.
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Save high months as a buffer for low ones.
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Set aside for tax and costs (tools, transport) before spending.
Practice activity
🧮 3 months earn 5M, 2M, 5M → what monthly average to budget on?
Worked example: 3 months: 5M + 2M + 5M = 12M → average 4M/month. You budget around 4M; in a 5M month save the surplus to cover the 2M month.
Quick quiz
1. Freelance income is usually?
→ Uneven, fluctuating
2. Budget based on?
→ The average/low to be safe
3. 5M + 2M + 5M over 3 months, average?
→ 4M/month
4. In a high-earning month you should?
→ Save as a buffer for low months
5. Before spending freelance income, set aside for?
→ Tax and work costs
🎯 Real-life mission
If you have side income, set aside tax/savings before spending.
‹ Budgeting at 18 · Emergency fund and insurance ›