What a Pole Dancer Can Teach Us About Managing a Variable Income

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If you’re on a steady salary, creating a spending plan is straightforward, because you know both what’s coming in and what’s going out every month.

But what if you don’t have a stable salary? What if you’re one of the millions of Americans who do side work or own a business or get paid commission?

For you, a variable income is just part of the deal. This is also true for people who depend on tips, like bartenders, Uber drivers, servers — you name it.

So, how are you supposed to budget or create goals when you don’t know how much money you’re going to make tomorrow, much less next month or next year?

Let’s find out. In today’s podcast, we’re going to tackle the topic of creating a stable budget with an unstable income.

As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. Our guest is Barbara Sloan, a former exotic dancer and the author of “Tipped,” a book about financial empowerment for service industry workers.

Be aware that nothing you hear on this podcast constitutes financial advice. Always do your own research and consult your own experts before acting on anything you learn here.

You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:

Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.

This podcast is sponsored by Tellus, the first savings app designed for homebuyers by real estate experts. With Tellus, your savings earn more in one day than up to three weeks in a traditional bank savings account. What’s more, there is no stock or crypto exposure, no fees and you can withdraw anytime. Click this link and use the code MONEYTALK to get a 5.50% APY for seven days with a $125 minimum deposit.

What kind of career do you have?

We tackle some of the main things you need to be aware of when you work in a career that features a variable income. Barbara’s book, Tipped, takes you through what you need to know as well.

If you’re looking for a new career or source of income, check out some of our articles on different jobs and side hustle ideas.

Get more from your money

Don’t forget about money moves you can make, no matter what your income looks like. Here are some of our best resources for budgeting, saving, investing and spending your money.

Meet this week’s guest, Barbara Sloan

Barbara Sloan
Courtesy of Barbara Sloan / Money Talks News

Barbara Sloan is the author of the book Tipped: The life changing guide to financial freedom for waitresses, bartenders, strippers, and all other service industry professionals.

Barbara was a homeless teen, who danced for dollars, and definitely did not graduate from college. She spent two decades working in every imaginable position in the service industry all over the country and learning about money on her own.

In addition to owning and running a construction company in the heart of Manhattan, she is a personal finance expert and coach. She leverages her experience in the service industry to focus on issues that many in the mainstream financial media don’t cover.

Barbara lives in New York City with her wife of 10 years, an esteemed corporate finance exec, and together they are a couple of adorable money nerds who point out every dog they see.

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.