We all hate the word budget. How many times have you had a budget that never worked and only made life harder? And when you didn't follow it, did you feel like you failed?
If a budget is done right, it will provide many benefits that are crucial when going through a divorce.
A budget is a guideline to help you forecast how your cash flow will look.
Having a budget keeps your priorities and values straight. Many times during the divorce you can get confused about what is important to you.
Make a list of what's important to you and your family.
Living on a budget can bring you peace of mind.
The budget will contain what you are spending on a weekly, monthly, or annual basis.
Having a budget forces you to be intentional.
Going through a divorce can be emotional. Having to deal with a budget can be hard during the time that you're getting divorced. However, when you write down what is important to you, you will see how it can help you.
It's going to give you control.
Remember that having a budget is not about being perfect.
There’s no need to start with drastic changes; taking “baby steps” will still lead to your goal.
Prioritize your expenses: Determine what you need as opposed to what would be nice to have.
There are many who have gone through a divorce and really never put a lot of thought into their budgets, only to find out later that they did not have enough income to cover their expenses. Are you going to be one of them?