Preparing for Divorce: Step 4 – Prepare a budget (or two)

Michael Sherman at Alabama Family Law Blog is continuing his series of posts on Preparing for Divorce:

The next step in preparing for divorce is to make two budgets (one that shows the situation in the house before the divorce filing, and one that is your estimated budget for after the divorce).

Most folks don’t like to prepare one monthly budget, so I know I’m asking a lot to suggest that it is helpful two prepare two of them.  There is a method to the madness though.  It is important to know what it costs to run your household currently.  Equally important is to have an understanding of what your costs of living will be after the divorce. Let’s take each in turn.

(more…)