If you take the time to complete my free divorce budget spreadsheet template, you will be prepared to complete any state’s required expense disclosure statements. But who pays for meals, gasoline, and car insurance for Johnny when he comes home from college for the summer? While child support may not cover such expenses, someone has to pay for them unless Johnny is 100% on his own. Child support is intended to cover the expenses of minor children and not adult children. Neither state does a consistent job in helping people separate out expenses for themselves versus expenses for their minor or adult children. In contrast, California’s Income and Expense Declaration fails to include detailed budget categories which leads many of my clients to under-report their expenses. The form does a good job of prompting you to think about nearly every expense you may incur for yourself or your children. For example, New York’s Statement of Net Worth includes a section where you list your average monthly expenses. You Need to Know How Much You Spend On Average Each MonthĪs part of the financial disclosure process, many states require divorcing parties to list their average monthly expenses by budget category. I developed this budget template because there are many free divorce-related budget worksheets on the Internet and I do not find any of them fit my clients’ needs. It is bold of me to assert that I have created one of the best divorce budget spreadsheet templates you will ever find as you are preparing for divorce (or adjusting to managing your finances after divorce).
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