Having an Accurate Divorce Budget

Many people who never lived on a budget before the divorce find making a budget very difficult. Making a budget means cataloging all expenses and all income. In making a divorce budget a person sees the clear and often not so obvious financial impact of the marital breakup. Budgeting is a way to look at present and anticipated financial state.

A budget forces people to realize that their standard of living may be reduced by the marital breakup. Things they one took for granted now may be beyond their reach -- at least for a time.

If making a budget is taxing, living on it can be more difficult. Many divorcing spouses underestimate living expenses and later find that they cannot pay the bills. A financial professional can help produce an accurate and complete budget.



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Suggested Reading
Divorce & Money: How to Make the Best Financial Decisions
This book is a practical guide to evaluating assets during divorce. It explains how to determine the real value of marital property including houses, businesses, retirement plans and investments and how to negotiate a settlement that is fair to both sides.

Authors: Violet Woodhouse & Dale Fetherling


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