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Tips for creating a post-divorce budget

Your financial circumstances will change in many ways if you decide to divorce. While you’re sure to face some challenges, there are steps you can take to minimize the impact on your life.

One of the first things you should do is create a post-divorce budget. Even if you’re not 100 percent sure of the approach you want to take, it’s better to get the basics in place than to wait too long.

Here are some tips you can follow:

  • Calculate your income and expenses: You can’t create a budget until you know the finer details of your income and expenses. Don’t leave anything out, as the last thing you want is surprises.
  • Create a system for tracking your expenses: This can be as simple as writing everything out with pen and paper or using a spreadsheet. There are also mobile apps for budgeting and tracking expenses.
  • Make changes as necessary: For instance, you may find that you can’t afford all your expenses with your current level of income. Look for ways to cut back, such as by changing your phone plan and eating out less.

Along with the above, get into the habit of reviewing your budget at the end of each month. This will give you a clear understanding of whether or not you’re on the right track.

Divorce will change your life in many ways. Your new financial situation should be top priority post-divorce, as you want to gain stability after so many months of uncertainty. Once you have a budget you can follow, it’ll make your life much easier.

Alex Hanna was named Top 100 Criminal Defense Lawyer (2016) by The National Trial Lawyers.

Alex Hanna is rated a Premier DUI Attorney by the American Association of Premier DUI (2016).

Alex Hanna was named Traffic Lawyer of the Decade (2010) by the Minority Chamber of Commerce.

Alex Hanna was given the 2016 Client’s Choice Award from Avvo.

Alex Hanna is a member of The Florida Bar and Practices in the areas of Criminal, Traffic and Personal Injury Law since 2001.

Alex Hanna is a member of the National Association of Criminal Defense Lawyers (2016).

Alex Hanna is a member of the Esteemed Lawyers of America association (2017).

Alex Hanna is a member of the American Immigration Lawyers Association (2017).

Alex Hanna was bestowed the 10 best law firm award by the American Institute of Criminal Law Attorneys in 2016 and 2017.