Seeing Is Believing

The Risk of Expected Income

It's tempting to make plans or purchases based on money you expect to receive, but this can lead to financial trouble if that money doesn't come through.

Always wait until you actually have the cash in hand before spending it.

Many people make the mistake of spending money they anticipate receiving.
Some examples might be a yom tov bonus, commission on a deal you're about to close, or perhaps a tax refund.
However, these expected payments can sometimes fall through or be less than expected:

• The company may decide not to give a bonus this year.
• A commission-based deal may fall through right before the finish line.
• Your tax refund may be lower than expected due to changes in your family or finances.

When this happens, you will be left with expenses you’ve already spent but can't cover.

The old saying "seeing is believing" applies perfectly to these scenarios.
Don’t rely on the money before you see it!

There are many other examples of anticipated money that can turn out differently than expected.

Only when you see the money in your bank account should you consider it available for spending.  
This approach ensures that you don't end up in a financial bind.