Oftentimes on our show, we talk to people on the FI journey with “regular” 9-5 jobs, and other times we talk to those who have achieved their FI goal and are able to retire from their careers. However, we rarely talk about money management and FI when it comes to those working in service industries, such as serving and bartending. This week we are joined by author Barbara Sloan to discuss taking control of your finances while in a variable income job, the importance of an emergency fund, and the attainability of retirement accounts and health insurance while in these types of industries. While it may seem unattainable to budget and financially plan for the long term when your income is non-fixed, you shouldn’t count yourself out from this journey! Creating your dream life is possible for all, with the right systems in place to ensure it, that is an option possible for those in all career types.

Barbara Sloan:

Timestamps:

1:03 - Introduction
2:54 - Sub Minimum Wage And Tipping
14:03 - The Importance Of Tracking
21:06 - Tips, Taxes, and Social Security
35:28 - Strategies For Health Insurance
41:18 - Lifestyle Design/The Financial System
48:44 - Emergency Funds
54:27 - Conclusion

Resources Mentioned In Today’s Episode:

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Episode description

435 | Tipped Finance | Barbara Sloan

Episode description