💰 Take Control: Master Post-Divorce Budgeting for a Stress-Free Future
The end of marriage is extremely difficult and for most people it creates anxiety about their financial future. Post-divorce budgeting is essential to ensure stability and reduce stress. It is important to plan for your future and have realistic financial expectations. Creating a budget is one of the most important things to do post-separation. The word budget can be a daunting word but there are so many resources that are available to you.
How to Create Your Post-Divorce Budget
Creating a budget can seem like an impossible task but it can be easier than you think. The best way to start creating your budget is to use this formula:
Monthly Income – Monthly Expenses = Monthly Surplus
Your monthly income includes things like salary, tips, and any other earned income. It also includes alimony and child support, along with any unearned income like interest from dividends and stocks or any other unearned income like social security payments. This should be the easiest thing to place on the budget. You should readily be able to see past paychecks and other payments to enter into the budget.
Your monthly expenses include everything … Read More... “The Importance of Establishing a Budget When Your Marriage Ends!”