Managing Your Finances As A Newly Single Woman

Learning to track your expenses post-divorce

Posted to Resource Articles by First Wives World on Sun, 02/06/2011 - 8:33am

Below is a sample budget worksheet, a reminder of sorts, to help provide you with an overall generalized summary of what you need to budget for each month as you plan for your life post-divorce. Above all, it's important to think through everything before you make a settlement with your STBHX, particularly if you have children.

HOME:

Mortgage or Rent
Homeowners/Renters Insurance
Property Taxes
Home Repairs/Maintenance/HOA Dues
Home Improvements

UTILITIES:

Electricity
Water and Sewer
Natural Gas or Oil
Telephone (Land Line, Cell)

FOOD:

Groceries
Eating Out, Lunches, Snacks

FAMILY OBLIGATIONS:

Child Support
Alimony
Day Care, Babysitting

HEALTH AND MEDICAL:

Insurance (medical,dental,vision)
Unreimbursed Medical Expenses, Copays
Fitness (Yoga,Massage,Gym)

TRANSPORTATION:

Car Payments
Gasoline/Oil
Auto Repairs/Maintenance/Fees
Auto Insurance
Other Transportation (tolls, bus, subway, taxis)

DEBT PAYMENTS:

Credit Cards
Student Loans
Other Loans

ENTERTAINMENT/RECREATION:

Cable TV/Videos/Movies
Computer Expense
Hobbies
Subscriptions and Dues
Vacations

PETS:

Food
Grooming, Boarding, Vet

CLOTHING:

INVESTMENTS AND SAVINGS:

401(K)or IRA
Stocks/Bonds/Mutual Funds
College Fund
Savings
Emergency Fund

MISCELLANEOUS:

Toiletries, Household Products
Gifts/Donations
Grooming (Hair, Make-up, Other)
Miscellaneous Expense
Total Investments and Expenses
Surplus or Shortage (Spendable income minus total expenses and investments)

Comments

Budgeting is critical to your credibility

Submitted by Guest (not verified) on Sun, 02/06/2011 - 7:56pm.

It's really important to do this carefully and to maintain it methodically. My husband's former wife never met a spreadsheet or a bill or a piece of paper she couldn't lose or misfile. As a result, her "demands" for money lack any credibility. She demanded child support (when she let their 20 year old move in with her!) and insisted that it be $1721/month. When he asked for a break down of her increased costs after the son moved in, she said "I could get out all the bills and calculate it, but you don't want me to do that because the number is actually much higher." Months later, when she finally did calculate based on actual bills and invoices, she reported that the figure was $137/month -- less than ONE-TENTH the amount she initially claimed. That is huge blow to her credibility. Don't let it happen to you!

Managing Your Finances As A Newly Single Woman

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