Bangalore: If you are a self employed professional something like budgeting can be a hot-button topic. Living on a self employed income has its own flip flops. Regardless of what your financial situation is, you still have to pay your bills on time. Something that undergoes a huge alteration is the way you manage your money when you move from employment to self-employment. Budgeting can be very difficult when your income is sporadic. Having a fluctuating income is a basic part of the self-employment reality. Therefore moving from an employed position to self-employment requires some careful financial planning, that will help you keep a steady budget. Build an Emergency Fund You are not sure of your monthly income as it will differ from every month. So be smart by considering unpredictable incidents that might crop up in your way of regular income. Make sure you have enough money in the bank as emergency funds to make up for any drop-offs. So that you are not forced touch your other saving accounts which could harm your financial life.