Any parent knows that the cost of food, clothing and healthcare are only a small part of the expenses that come with raising a child. But a failure to address additional expenses during divorce negotiations can mean any “extras” are not accounted for. Parents are wise to take these additional expenses into consideration and discuss them before they finalize their divorce.
The following will provide some guidance on three of the most commonly forgotten expenses.
#1: Extracurriculars
If your child plays football, soccer, baseball, basketball, volleyball or any other sport, take a moment to list out all the expenses that go along with participation in that sport. This can include:
- Gear. Participation in these sports requires uniforms, shoes and likely a bag to carry gear at a minimum. Many require additional specialized gear, like pads.
- Club costs. Sports often do not have an off season. After the school season ends, many continue training by joining a club team. This results in additional registration and other fees.
- Travel. Whether for the high school team or a club, travel is not uncommon. This can lead to additional expenses.
These expenses quickly add up – and that’s just for one sport. Many children are in multiple sports or do additional activities. Activities like orchestra can quickly become very expensive as well, especially when private lessons and the cost of the instrument are taken into account.
#2: Summer camps
From a week at a specialized camp to a full summer experience, the options for summer camps are endless. If participation in a summer camp is important, include it within these discussions.
#3: College
Although courts generally do not require parents to cover the cost of college within a child support arrangement, parents can come to this agreement. For families that want to better ensure their children have this opportunity, it is often wise to outline how the parents will handle the cost of tuition, room and board when the time comes.
These are just three costs connected to raising children that are often overlooked during divorce negotiations. Parents are wise to discuss these and others that they want to prioritize. In addition to making sure children have the time to attend these activities, these discussions can also result in addition of the expenses within the child custody orders. If you have an existing court order and it does not address these issues, it is possible to modify it so that it includes guidelines that address these issues.