Co-parenting is tough enough without factoring in financial issues. Even if you have an arrangement in place regarding child and spousal support, you should also have a plan for covering expenses related to child care.
According to U.S. News & World Report, compromise is key when splitting expenses with your ex. Here are a few useful tips to help you navigate financial issues with ease.
Prioritize the needs of your child
When you and your ex-spouse encounter roadblocks when it comes to financial decisions, keep the needs of your child at the forefront of the process. It is in your child’s best interest that both parents commit to providing essential financial support. That means you must make reasonable financial decisions, which ensures your child receives the funds they require to cover important expenses. When possible, split essential costs down the middle for a fair approach.
Keep lines of communication open
Situations can change drastically when raising a child together. As a result, you must communicate with your spouse frequently to ensure everyone is on the same page. Your spouse can only assist you with new expenses if they are aware of them as they pop up. If you are uncomfortable communicating with your spouse directly, use things like text and email.
Be flexible about unexpected expenses
Compromise is the key to any co-parenting relationship. Split expenses when you can, but do not shy away from covering some purchases on your own. Accordingly, your ex-spouse can cover some of their own child-rearing expenses to keep the system fair and equitable.
While you might feel tempted to figure out every expense down to the penny, keep in mind that doing so can create tension when there is none. It is much better to remain flexible but fair when it comes to child-rearing.