Lastly, if the numbers still aren’t adding up, you can look at adjusting your fixed expenses. Doing so will be much more difficult and require greater discipline, but on close inspection a "need" may just be a “hard to part with.” Such decisions come with big trade_offs, so make sure you carefully weigh your options. Tip: Small savings can add up to a lot of money, so don’t overlook the little stuff. You might be surprised at how much extra money you accumulate by making one minor adjustment at a time.
If you're self_employed, your after_tax income equals your gross income less your business expenses, such as the cost of your laptop or airfare to conferences, as well as the amount you set aside for taxes. You're responsible for remitting your own quarterly estimated tax payments to the government because you don't have an employer to take care of it for you.