Articles

The benefits of budgeting when sharing custody | Gregg R. Lewis, Esq.

by James Moore Child Support Consultant
Your child custody arrangement may also influence how you handle expenses for your child.

Sharing custody usually means sharing expenses too.

Expenses can quickly run out of control if you and your ex-spouse are not planning ahead. Creating a shared budget of child related expenses can clearly outline who is responsible for what, and how much he or she will need to plan for.

Just a few expenses to consider are: Childcare Extracurricular activities Health insurance and copays Field trips Clothing It is important to stay focused during these conversations.

Setting boundaries about budget topics can help avoid tension over things that are not relevant to your child expense budget.

An HSA is a special savings account for medical expenses, and all contributions are tax deductible.

Working out the details of your divorce, custody plan and financial expectations can feel overwhelming.

Sponsor Ads


About James Moore Child Support Innovator   Consultant

5 connections, 0 recommendations, 71 honor points.
Joined APSense since, March 1st, 2021, From Onalaska, United States.

Created on May 26th 2021 18:31. Viewed 84 times.

Comments

No comment, be the first to comment.
Please sign in before you comment.