I think everyone’s least favorite word is BUDGET. Why don’t we want to hear that word? Think about it: We’re asking ourselves to do something we don’t want to do — or worse yet, someone else is asking us to do it.
While we might not like them, having a budget does help. In divorce planning — whether you are going to litigation, mediation, or collaborative divorce — you need to have a budget. Budgets enable parties to understand where they are spending money and meet goals such as buying a new car, saving for home improvements, or most importantly, retirement.
A good example is how having a budget aids in deciding what to do with the marital home. Far too often people “bite off more than they can chew” in deciding to remain in the marital home. A budget can bring to light any potential shortfalls before making a decision.
If you don’t already budget your expenses, you are not alone. According to a Gallup poll from 2013, roughly 67% of Americans don’t make a budget. Luckily there are professionals who can help. For example, Certified Divorce Financial Analysts facilitate a frank discussion with you and your spouse about the scope of information that is required. Once that is gathered, a budget can be constructed that considers all of your liabilities and income — and then you should be able to predict the future a lot better than any crystal ball.
To find out how I can help, contact me.
Become an affiliate of the Happily Divorced! book and audio program! Let Reformed "Killer" Divorce Attorney, Cynthia Tiano, and Dr. Max Vogt, Marriage and Family Psychologist, take you on an adventure into the lives of two families going through the divorce legal system - one doing "legal battle" and the other creating a "peaceful divorce". Learn how to create a Win-Win from their experiences... HappilyDivorced.org
© 2022 Created by Cynthia Tiano, Esq..
Powered by
You need to be a member of Peaceful Divorce to add comments!
Join Peaceful Divorce