calculate average monthly income

[joecitizen]

i am trying to calculate my average monthly income for the six months prior to filing the bk. i get paid bi-weekly.

here is how i am calculating...

i added up all of my paychecks that span the past 6 months, which happens to be 13 paychecks (one month i got paid 3 times).

i then divided that total by 13, then multiplied that total by 2.16.

am i doing this correctly?

[kornellred]

It's simpler than that. Just add up all of the money you earned in the last six months and divide by 6. That's your average monthly income.

[joecitizen]

oh, cool. thx.

[jetsfan2010]

yeah they do it in simple terms, adding all income for the six month period and dividing by 6. sometimes that can hurt you if your income is variable.

[goodyphilips]

Yes absolutely this is how average monthly income should be calculated. some times things are so simple and we humans make it so complicated and let me tell you I do it all the time.

[daylate]

And just another simple thought-usually you can wait another month or so to file unless you have some major reason that prevents it. So if the extra check was 5 or 6 months ago and if it makes a difference on the means test wait.