Divorce affects nearly everyone’s finances and standard of living to some degree, at least early on. Even if the property distribution agreement and support orders are aimed at leaving both spouses financially stable, it simply costs more for people to live independently than under the same roof.
When a couple has children, explaining to them that they may not be able to have everything they’re used to can be difficult. Whether your kids will have to settle for a spring break road trip rather than a cruise or a more serious change like sharing a bedroom with their sibling or changing schools, explaining the changes can be difficult. That’s especially true if they’ll be living with you more than with your ex.
How you explain the necessary changes will largely depend on their age and maturity. Regardless of whether they’re in kindergarten or high school, it’s important not to blame your co-parent. In fact, when both parents can talk to their kids together, it’s generally better.
Explaining the changes to young children
Most young children don’t understand budgeting or economies of scale. However, if they get an allowance or money for a treat occasionally, you can explain that if they combine their money with a sibling’s or a friend’s, they can often get more than if they each buy something separately.
They may just want to know that both parents will always take care of them and make sure they have everything they need. You can even make cutting back fun, like watching movies at home instead of going out or cooking something from scratch instead of getting fast food.
What about pre-teens and teens?
If you have a pre-teen or teen, they can more easily understand that both parents will be working within a smaller budget. You can let them know how they can help by not asking you for things you simply can’t afford and taking the initiative to cut back where they can.
Teens certainly shouldn’t be told they need to get a part-time job to help support the family. If they want something special that’s out of your budget, and they’re old enough, a part-time job that doesn’t interfere with schoolwork may be a possibility.
It’s crucial to seek a fair property distribution agreement and support orders to minimize the financial impact of divorce on your kids and on you. That’s where having experienced legal guidance can make all the difference.