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  • financial statement

    k stupid question time. Currently for the dentist and drugs my company pays 80% and his company pays the remaining 20%. How do i put that on the financial statement that deals with that stuff. Once this goes through I will only have 80% coverage, do i use that as the figure i have to pay or do I do by what i pay now which is nothing??

    Also for things like haircuts etc do i figure out how much i spend in a year and divide by 12 to get the monthly figure

    maintence for the car, do i just guess what it would cost?? The only things i have done with the car is brakes and fixed a couple of flats

    This is all so confusing

  • #2
    If you're talking about the form 13.1 it's a reflection of your current reality. For example, if your current medical/dental exepnses asre completely covered then you wouldn't list them.

    All your other expenses ie: car, hair care etc you would add up the year's worth and divide by 12 to get a monthly amount. If you aren't sure how much you normally spend on car maintenance, call up the place you go to get the work done and ask how much it would cost for specific things like oil changes, tire changing services etc and use that number.

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    • #3
      I would estimate it higher than 20% .... my lawyer said to go high with all the amounts because for the most part, we tend to underestimate our budgets, not over estimate.
      I'm sure your dental plan does not cover everything you'll ever have to have done. I know my plan doesn't cover crowns, root canals, etc... and that stuff is very expensive.
      As for the repairs...remember that the older the car, the more repairs and regular maintenance (changing belts etc... will have to be done.)
      And yes, my lawer had me figure stuff out annually if it was not a montly thing and then divide by 12. If it is a weekly thing, you multiply by 4.333
      And don't cheap out on entertainment ect. You're suppose to be showing your current lifestyle...not what you can 'manage on'
      Good luck with that financial statement. It took me forever to complete mine. Then they want new ones every 30 days or for it to at least not be more than 30 days old when you put in an application, etc...

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      • #4
        You must be getting your oil changed at some point - calculate that, how about washer fluid, tires, breaks, belts, air and/or cabin filters? Those are 'maintenance' items that you may have paid for at some point.

        When my ex filled out his, it was only for a MONTH of estimated costs and made no flipping sense at all - it was obviously rushed (since it was 4 months late being submitted to the court) and pretty useless.

        Really sit down & think about things - sometimes you forget all the little things until after you've submitted it.

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        • #5
          SOTS, if you're just starting and have some time before needing to submit your forms and aren't sure what exactly your general expenses are you can keep track of things for the next while using a form like this:

          http://www.k3ccreditcounselling.org/Portals/6/budget%20form.pdf

          They recommend keeping all receipts and tracking every purchase you make to get a very accurate picture of your expenses. That form is similar to the 13.1 but a bit easier to figure out if you use it as a monthly budget form and then once you do that for a few months you can see where all your money really goes. I did it for 6 months and was pretty suprised to see how much was going to things I hadn't accounted for in my budget.

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          • #6
            Thanks Blink...I'll use that as well.
            And SOTS...no question is ever stupid if you don't know the answer. Stupid is not asking the question.
            .....sending out a hug to you - i know how you're feeling

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            • #7
              .

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              • #8
                I went over my bank and credit card statements for a year and then used a monthly average based on what I'd spent the last year. Some things go up and down with the seasons and for example you might buy a lot of clothes one month but not the same amount 12 months a year.

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                • #9
                  Has anyone ever heard of anything on this financial statements having to be PROVEN?

                  I mean, you get money in - you put money out ..... do you have a big stash of it at the end of the month or year?

                  For me .... no way ..... so as long as you show reasonably how it was spent .... then who is to question it .

                  Don't sweat it ..... like - $50.00 a month for car maintenance would be reasonable for a fairly new car - that would cover oil changes, car washes, washer fluid etc. etc.

                  $75.00 per week in gas is reasonable for someone who might drive 25,000 km per year. So that is $250.00 per month.

                  Start with the mandatory things - like gas, groceries and household expenses - 75.00 per month for phone, 50.00 per month for cable, electricity and gas, household like toilet paper and cleaning supplies can be upwards of 75.00 per month.

                  Then see what is left over .... that is when you decide if you spent it on meals out or movies, or trips, or haircuts, or clothes, or charity, or kids sports, babysitting, etc etc etc.

                  I tried not to spend cash - that way I could see exactly where I spent the money on my bank statement or credit cards.

                  What it comes down to is .... be reasonable .... don't sweat it .... the money goes somewhere .... just categorize where it went.

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                  • #10
                    Hi Everyone,

                    Question...The vehicle we have is an Avalanche. It's a gift from his mother...but the gas, repairs ect come from our joint account. When doing my financial statement do I include these expenses as well. Also I need a vehicle and was thinking about leasing one. Would this be a bad mistake on my part, or should I get one and just as it to my financial statement as another expense I will have?
                    These financial statements will be my death. :-)
                    Thanks everyone

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                    • #11
                      1 - you should not still have any joint accounts since seperating!
                      2 - you list anything you are paying for, since it seems you are bothe paying the expenses for that vehicle then it would seem prudent to list half the amount as your and he would claim the other half on his
                      3 - expenses you incur after seperating are yours and yours alone so you're the only person who can decide if your finances can handle a new vehicle

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                      • #12
                        k another question. due to his gambling and the late fees we incurred when renting (he paid them) the mortgage, insurance payments for both his car and the house plus the property taxes come out of my bank account. He gives me a check for the to cover his share.

                        do i put down that i pay the total amounts and then put what he gives me as income from other sources?? I think that is what i do but i am not certain.

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                        • #13
                          Morning everyone,

                          Bllink I think I worded my question about a vehicle wrong. If I buy a vehicle while I'm still doing up my financials can I put the vehicle down as an expense (bill) won't be paid for as I will most likely lease. Can the expense of paying for a vehicle each month help lower spousal support or will it help him receive more spousal support. I need a vehicle but if his lawyer looks at it from the angle of "well if she can afford a vehicle, then she can afford to pay you more support".

                          Thanks everyone
                          Have a great day

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                          • #14
                            Originally posted by standing on the sidelines View Post
                            k another question. due to his gambling and the late fees we incurred when renting (he paid them) the mortgage, insurance payments for both his car and the house plus the property taxes come out of my bank account. He gives me a check for the to cover his share.

                            do i put down that i pay the total amounts and then put what he gives me as income from other sources?? I think that is what i do but i am not certain.
                            I think all of that would go under both of you with each of you claiming half of the expense. That way it doesn't matter if he gives you th emoney and you pay the full amount.


                            Lorac, I'm not sure how that would work, but I don't think they would consider it as you could afford more. It's reasonable to expect you to need a vehicle. If you were claiming you couldn't afford to pay spousal support due to your bi-monthly vacations to Hawaii then it could come into play. Perhaps someone else will have some better advice for you.

                            Comment

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