Building a Feast or Famine Budget as a Court Reporter

Join our educational Facebook group for court reporters -   / courtreporterfinance   This webinar explains how court reporters with fluctuating income can create a steady personal budget by treating the budget as a floor based on worst-case “slow months,” not a ceiling based on best months. The presenter recommends reviewing the last 12–24 months to find baseline income, ensuring fixed expenses are always covered, and using a buffer account (separate from an emergency fund) to smooth income swings by saving during high months and drawing during low months, targeting about 2–3 months of consistent monthly spending. Additional steps include setting aside extra taxes, building a personal emergency fund, then adding retirement/investments and “fun money.” Common pitfalls include lifestyle creep, the “new normal” trap after big months, skipping higher tax set-asides, and having no buffer (leading to credit card debt). Action steps include calculating baseline, opening a buffer, setting a fixed monthly “salary,” and automating transfers for taxes and savings. 00:00 Welcome and Overview 00:59 Why Income Feels Cyclical 01:59 Budget Floor Mindset 02:26 Find Your Baseline 03:49 Build a Buffer Account 05:47 Next Money Priorities 07:58 Common Budgeting Mistakes 10:40 Sample Freelancer Numbers 12:13 Action Steps and Wrap Up Required Disclosures: This content is for educational and informational purposes only and should not be considered personalized financial, tax, legal, or investment advice. Your individual circumstances are unique, and you should consult with qualified professionals before making any financial decisions. The information presented is general in nature and may not apply to your specific situation. Tax laws, regulations, and financial rules change frequently and vary by state and individual circumstances. No investment strategy or risk management technique can guarantee returns or eliminate risk. Past performance does not guarantee future results. All investing involves risk, including potential loss of principal. I am not providing legal, tax, or accounting advice. Please consult with appropriate licensed professionals for advice specific to your situation. Any examples used are hypothetical and for illustrative purposes only. Actual results will vary based on individual circumstances and market conditions. This content is not sponsored unless specifically disclosed. Mention of specific products, services, or strategies is for educational purposes only and does not constitute a recommendation to buy or sell. The views expressed are as of the recording date and are subject to change without notice. While we strive for accuracy, we cannot guarantee all information is current or error-free. Copyright © 2026 Traction Wealth Management, LLC. All rights reserved.