Many parents who go through divorce work out how each of them will pay for the essentials for their children, such as schooling and medical expenses. However, you as a divorced parent can expect additional costs to come up that you and your co-parent have not addressed in a court settlement or mediation.
Avoiding conflict with your co-parent is important so you can minimize the stress in your life and the lives of your children. U.S. News and World Report explains how co-parents may handle the issue of extra expenses.
Divide the cost according to income
If you have a hefty expense like a car or a vacation in mind for your child, you and your co-parent could divide the cost between the two of you according to your incomes. If you make more money than your co-parent, you would pay a larger share of the cost. Perhaps your income is two-thirds greater than your co-parent, so you decide to pay two-thirds of the expense.
One parent provides the full payment
It is possible you or your co-parent have fallen on hard financial times, so shouldering even a small part of the expense is not possible. If so, the parent with enough money could pay the entire amount. The nonpaying parent can take up the next big cost, perhaps when the parent is in better financial shape.
You could decide to fully pay a big expense even if your co-parent is capable of paying some of the cost. Your co-parent may appreciate your gesture and take up additional tasks to help with the children, like babysitting or buying lunch and dinner more often.
Work out a compromise
Divorced, unmarried or single parenting situations greatly vary, so you and your co-parent may have to sit down and work out a solution unique to your case. Even if you two do not share the expense in a necessarily fair manner, your solution could still seem acceptable to both of you. Creating strategies to co-parent in an effective manner may help you figure out tough financial questions.
