Pro Tip #1 – Save for holiday gifts year-round.
Save a little bit of money from each of your closings year-round for holiday gifts since business isn’t always steady.
Pro Tip #2 – Remember your taxes.
Put 40% of your commission checks away in a separate account for taxes. Use the rest for personal overhead, vacations, gifts, and IRA contributions.
Pro Tip #3 – Don’t forget six months of reserves.
Save as much as possible during the high production months to cover expenses if things slow down. The standard rule of thumb: save enough cash to cover six months of your monthly bills, including rent/mortgage.
Pro Tip #4 – Use budgeting and savings apps.
Research the best money management apps then download your favorite to help you track, save, and plan your finances.
