How to Make a Budget as a Waitress
- 1). Add up your common monthly expenses. These include rent or mortgage, groceries, transportation costs, utilities and entertainment costs. This total is the amount of money you should try to earn for the month.
- 2). Average your monthly paycheck earnings. As a waitress, you receive both a paycheck and tips. Tips may vary, but your paycheck should be relatively constant, even though it may be less than minimum wage. Look at your pay stubs for the past six months and average them to estimate how much you can reasonably expect on a regular basis.
- 3). Put all of your tips in one place to keep track of earnings. When you come home with a pocketful of cash, it's easy to lose track of your spending. Though it may not be feasible to stop at the bank every day, you can come home and put all of your tips into an envelope, counting the money at the end of the week and making a deposit.
- 4). Compare your paycheck earnings with your monthly expenses. If you're expenses are low or you are able to work many hours, your paycheck may cover your expenses. In many cases though, you'll have to use your earnings from tips to fill a gap.
- 5). Develop a method for paying your bills. For example, you probably pay rent and utility costs by check, so you'll need to keep money in your checking account for those. However, you can pay for your groceries using the cash from your tips, if you find it more convenient to keep track of costs this way.
- 6). Set aside extra money to cover lean months. When you have a good tip night, resist the urge to spend that money on something unnecessary. Instead, build up an emergency savings account you can dip into to cover the major expenses when you're not making enough.
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