How to Be Successful with Money during and after Divorce — The Monthly Budget

I have written in other blog posts (for example, here, and here) about how to be successful with money during your Utah divorce.

I wanted to take a moment and talk about where being successful with money begins. It’s not with some grand roadmap to $1 million.

No, it starts with a written monthly family budget.

That’s right, a budget. It’s not glamorous. It’s not sexy. It’s not complicated. It is, however, extremely effective.

Just as you wouldn’t think of building a home, or a shack for that matter, without a written plan, you shouldn’t think of building wealth without a written budget.

Advantages of a Monthly Budget

There are a number of advantages to creating a monthly budget:

It makes you actually figure out what you take in and what you spend.

Most people don’t know (1) what they bring in on a monthly basis, and (2) what and where they spend their income. A monthly budget forces you to do your homework and figure this stuff out once and for all.

It makes you plan your month in advance.

Most people just let their month happen to them. A monthly budget forces you to examine the month ahead and plan your spending depending on what will happen. This allows you to adjust future behavior if that behavior would cause you to run short of funds (i.e., go in to debt).

It gets you on the same page as a family.

One of the major causes of spending too much is that families are not on the same page when it comes to money. A monthly family budget makes you sit down and discuss money and spending. (Of course, at this point you’re budgeting is with your kids, and not really with your spouse, but the principle is the same.) This will probably be contentious the first few times if you haven’t been on the same page with money. But, I promise, it gets better. We as a family went through tough times at first laying out our spending. Now, though, we work together pretty seamlessly.

Do Monthly Written Budgets Work?

They do if our experience is any indication. When we started doing ours, we cut our spending by 25%-33%. Just knowing how much we were wasting on random stuff each month helped reign things in. Honestly, it felt like we got a big raise because we started putting our money toward the things that mattered.

What Budgeting System Should I Use?

We as a family use www.everydollar.com to prepare our monthly budget. It’s incredibly user-friendly. And, it’s free.

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Mack

I would give them 10 stars if I could. Clay was professional and super organized. He took the time to explain everything. I would highly recommend him for any family law needed. Melanie was a godsend. She not only kept me continually informed of the progress, she sent texts of encouragement and support throughout the entire process. I would give her 100 stars for going above and beyond to make this experience less stressful. Her encouragement and genuine caring were comforting and calming. The entire staff at Brown Law are on your side and if you are lucky enough to get Clay and Melanie on your team you will not be disappointed. Thanks! Mack M.

Response from the owner:Wow, thank you so much. Melanie is great. Glad she helped you so well.

Alex Rogers

Nathaniel was an incredible partner throughout the divorce process. He was organized, responsive and respectful of my wishes while simultaneously giving me guidance and advice. I would recommend him to anyone.

Christie Cisneros

I couldn’t have made it through my divorce without Clay and his team! I am forever thankful for the hours and time spent with me to help navigate an extremely difficult time in life. They’re reliable, knowledgeable, and know how to get things moving in an efficient manner. Nothing but good to say here!!

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Working with Daniel Young at Brown Family Law was a truly positive experience during one of the most difficult times of my life. From the start, Daniel was knowledgeable, compassionate, and incredibly responsive.
If you need a family law attorney who combines expertise with empathy, I cannot recommend Daniel Young enough. He is a true advocate and a credit to Brown Family Law.

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Nathaniel and Carren have been absolutely incredible to work with. They kept me informed and in the loop throughout each step of the process. They always answered every question I had in a very quick and timely manner. I could not recommend them more.

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This 5-star review is for Nathaniel Garrabrandt at Brown Family Law. Nathaniel was just what we needed. He helped guide us with a level of professionalism, efficiency, and genuine care that made a real difference during a challenging time. He is always thoughtful and respectful, and he never makes you feel like just another case. His communication was clear (with regular check-ins), his advice was solid and uncomplicated, and I always felt that he had his client's best interest at heart as he made suggestions. I’m grateful to have had such a capable and compassionate attorney to work with. You hope you never need these kind of services, but when you do, you want the best... and someone with high integrity. Nathaniel truly deserves all 5 of these stars, in every way.

Kenzie Murphy

Russell Yauney was my attorney at Brown Family Law. Throughout the process, Russell and his paralegal Conor, were extremely helpful and patient. They were highly responsive, thorough, and most importantly: did not make me feel insignificant or embarrassed for asking clarifying questions. Russell made himself available and whenever he wasn't, Conor was. The Friday Phone Calls were reliable and I knew I could expect an update each week. The firm's texting abilities also made it easy to send a quick question/concern if I ever needed it. Russell was a fantastic attorney and guide to have throughout my situation. I highly recommend this firm.