Making a Budget After The Divorce is Final

Hi,
It's now time to assess whether or not our income meets our monthly expenses. It's relatively simple to determine this. We total our monthly bills and compare the total to our monthly income. In many cases, people find that their expenses are higher than their income. Here are a few suggestions to reduce expenses:
1) Look at areas in which one can reduce costs, such as paring down a cell phone plan, cancelling cable, club memberships, subscriptions etc.,
2) Consider using public transportation whenever possible.
3) Consider eliminating some credit cards.
4) Examine the amount of money spent on entertainment/eating out every month. Check the library and Internet for free or inexpensive entertainment.
5) If expenses far exceed income, call creditors to set up repayment plans that work for both parties. Do not represent a payment plan to the creditor which cannot be kept.
For the twelve months following a divorce, it is important to be financially prudent and adjust lifestyles when necessary in order to transition into a solid financial future. Revisiting one's budget every three months and making adjustments as needed is recommended.
Tomorrow I'm going to write about what to do with your debt if you find yourself suddenly unemployed.
Until then,
Alan