Dear Loan Officer: How to Budget on a Variable Income (And Not Lose Your Mind!)

Dear Loan Officer,

We all have a lot of competing financial responsibilities. As a loan officer, how can you accurately budget when you don’t know to a T how much you will make in a given month? In my below breakdown, I share a simple “3 Bucket” budgeting concept for understanding how to allocate your funds throughout the month.

Sometimes, it can feel like too many responsibilities because of the income variation – especially if your income varies on a commission-based salary, or reliance on arbitrary bonuses – but have no fear, a simple system in place can ensure that you are able to pay the bills today, tomorrow, the next day, and the next….


I wish you all the best!


About Trevor Hammond

As a veteran of the mortgage industry, Trevor Hammond is the co-author of "Borrow Smart, Retire Rich," a Certified Mortgage Adviser and a founding Faculty Member and Contributor to the National Institute of Financial Education ( And he has provided thousands of homeowners with the clarity and confidence to make smarter decisions when it comes to their mortgages and money. In 2013 he launched an entirely new kind of mortgage company: Aspire Mortgage Group, which is committed to educating and empowering homeowners to increase savings, eliminate bad debt, and safely increase net worth. The specialized group of mortgage professionals at Aspire Mortgage Group have redefined what homeowners should expect from a mortgage company. To learn more about Trevor Hammond and our team of mortgage advisors please visit our website at or email Trevor directly: Aspire Mortgage is a Sierra Pacific Mortgage Partner.
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