Income |
Income can come from a variety of sources. Paychecks, rental income, investment
dividends, child support or alimony for example. To create an accurate budget
you must determine all of your income sources.
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Once you know all sources of income, determine the total for a one year
period. Since most expenses are billed on a monthly basis, divide your overall
total by 12 for a monthly average income to use in your budget calculations.
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This is a complicated area of law and an attorney should be consulted on all matters relating to bankruptcy. The information on this website is provided with the understanding that the authors and publishers are not herein engaged in rendering bankruptcy, legal, insolvency, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional bankruptcy, insolvency, tax, legal or other competent advisors. While we have made every attempt to ensure that the information contained in this website has been obtained from reliable sources, Credit Advisors Foundation and Arbor Investment are not responsible for any errors or omissions, or for the results obtained from the use of this information.