<prompt> Human: Hey everyone, First of all, thanks to everyone here, Ive learned a lot in a short amount of time. Big question I wanted to throw out, and if its possible to get bits and pieces of insight, that would be great. I am an analyst at a commercial real estate firm in a major market. I am paid a salary, and right now I am living within my means with my only debt being 14K in student loans still outstanding. Soon, I will move out of an analyst role and into a brokerage role. Brokerage commissions for the type of work I do in this market are very big and in my case, much larger than the industry average given the generous splits that my firm offers, though the competition is fierce. The sales cycle is very long, so to accommodate junior brokers so they can live in the meantime, it is common for firms to place their brokers on a draw which is then repaid as commissions are earned.So, questions for commission only workers out there: What strategies do you use to budget, given that you arent 100 sure when you will be paid? What tax implications should one be wary of as a 1099? Those are the biggest questions I have. If there are any other things I should be mindful of, please throw them my way!  <response>: First, you need to build a larger-than-average emergency fun. 12 months expenses is not unreasonable for a commissioned job with a long sales cycle.Second, pay off your student loan as quickly as possible. Your goal here is to minimize your required monthly expenses, which will lower the amount of emergency fund required.If the company is paying a draw to junior associates, you can build a spending plan off of that draw. Is this guaranteed forever, or for a certain period of time. Any earnings in excess of the draw can be used to build your emergency fund, pay off your student loans, or for spending that doesnt increase your monthly fixed expenses trips, purchases that dont have ongoing costs, etc.xtrexjpsouz has done a good job of explaining the tax situation.Good luck! 