If you are getting divorced and have young kids, you might not be thinking far enough in advance to realize that there will be a lot of expenses for your kids when they become teenagers. If you do not plan ahead for these things, you might struggle with your ex-spouse over who will pay for them, but you can avoid this problem by making these decisions during your divorce. Here are some of the top expenses you should discuss and plan for in your divorce, as you will likely encounter these expenses when your teens become older.
Your kids might not need braces when they are really young, but they may when they become teenagers. The cost of braces right now is very expensive, but it may be even more expensive by the time your kids need them. To make sure you are not fully responsible for this cost, create a plan in your divorce agreement for this.
Car insurance is another thing your kids do not likely need now but may later on. The cost of insuring a teen driver is never cheap, either, so you should determine how you and your spouse will split these costs when your kids begin driving.
Proms, dances, and extracurricular activities
Starting when kids are young, they will often become involved in extracurricular activities, such as sports, cheer, or tumbling, and the costs for these types of things can add up. As your kids get older, they may go to prom, dances, and other types of school activities, and all of these things cost money. Therefore, it is important to discuss this now to avoid arguments later on.
Another big expense you may have for your kids later on is for cell phones. If you plan on getting cell phones for your kids at any point, you should create an agreement about who will pay for the costs of these things.
School expenses and clothing
One other thing you should discuss is the cost of school expenses and clothing. Each year, these types of expenses can really add up, and that is why you should talk about them now.
These are all major expenses you may encounter when your kids reach their teenage years, and you should work out an agreement now to plan for them. To find out more about this issue, talk to a family attorney.