During my first marriage, we bought a house and immediately realized we need to
create a thorough budget to help us manage our spending and make sure we had
enough to cover all of the bills as well as attempting to save money to fix up the
house. We stuck to it for years, but a divorce will definitely set you back financially,
especially if you are not prepared for it. I currently use a rough budget to make sure
the fixed expenses are covered along with enough for necessities, but I am eager to
sit down and really set up a sheet for tracking expenses and get a solid budget put
together so we can begin working toward our life goals.
I have tracked expenses, again with my first husband, and while it was very tedious,
it was extremely helpful to see where your spending habits are. We used a few
different budgeting programs that would also show reports and graphs so you can
get a better visual representation of where your money is going.
My husband's hours tend to fluctuate, especially with the COVID-19 pandemic
affecting everything, so it is difficult to know for sure what amount will be withheld
for taxes each pay period. At this point, I work off of a very strict, tight budget just to
make sure we have as much as possible in the bank to cover what we need for the
next few months.
