When two parents decide to pull the plug on their relationship after having a child, they don’t only have to worry about how they plan on co-parenting their baby, but how they plan on staying on the same financial page, too. After all, money always matters.
That’s why we have four things you should keep in mind when it comes to co-parenting and finances.
Benefit From Consistency
According to The Balance, you will need to set expectations early and of course, establish boundaries. Make sure that you are very clear about what you expect from the co-parent and from yourself as well.
Also, make sure that you are only discussing what matters and what pertains to your child. For instance, you can talk about how much it costs to raise your child as far as health care, food and clothing is concerned or your child’s school tuition, books and fees. But talking about your personal finances and activities (and that of your exes) should be off limits.
Make Requests But Listen, Too
If your child has extracurricular activities or sports that tend to cost more than you can afford, talk to your ex-partner about splitting the costs. Perhaps one parent can pay the fees while the other parent pays for the equipment or uniform.
Make things as even as possible and be fair, too. Also, there’s nothing wrong with making your requests but try to listen to your ex’s needs, too.
Show Restraint
Don’t let your emotions get the best of you. According to Helpguide.org, you’ll have to keep in mind that you and your ex will need to work together for your child’s benefit and future.
If you have an ex who likes to push buttons, train yourself not to overact or respond to provocations. Stick to the numbers and make it clear from the get-go that everything should be divided evenly, but within both of your financial ranges, too.
Commit To Meeting Consistency
Remember that communication is key. The best thing that you and your former spouse or partner can do is to commit to meet during a time that is most convenient for both of you to talk about finances.
Try to work for a common goal that will most benefit your child. Also, make a realistic budget or financial goals that the two of you can meet or adhere to at all times.