How much does cost you to live-currently and after divorce? Complete an income/expense worksheet. Include all sources of income-earned and unearned-over the last 12 months and divide by 12 to determine your monthly income.
Estimate all your expenses (including taxes on your income) by gathering documents showing what you spent during the past 12 months, then divide by 12 to determine your average monthly expenses.
Take your monthly income and subtract your monthly expenses. Is there a surplus or deficit? Do this exercise estimating your income and expenses after divorce. This will show how much money you need to maintain your lifestyle.
