Once the dust settles and child support payments are figured out, many parents quickly begin to think about how they may best put this money to use. This is a good question, especially if your ex is unreliable or uncooperative, leaving you with the short end of the stick when you least expect it.
For this post, we’re discussing ways in which you can best maximize child support in order to provide for your child’s essential needs. As always, remember that we at the Law Office of James P. White are here to answer any additional questions you might have on this or any other matter involving family law in CA.
Avoid Relying on Child Support as Part of Your Primary Budget
Once you begin receiving the money, you are legally allowed to use it as you see fit. Neither the courts nor your ex can dictate when and how this money should be spent.
With that in mind, we highly advise against relying on child support payments as part of your regular budget. You don’t want your monthly finances to be fully dependant on child support, especially if your ex becomes delinquent on his/her payments, or if there are unexpected changes or modifications to the child support amount.
Consider Using Child Support Payments on These Expenses
Instead, focus your efforts on expenses designed to minimize your future financial stress and provide your child with ways to excel and grow as a person. For example, we recommend putting your child support payment towards things such as:
- Extracurricular activities and all associated fees, equipment costs, etc
- Medical costs/expenses, or a fund set aside for any potential future medical issues
- A fund/savings for future school/college expenses
- Daycare costs, enabling you to work and focus on long-term career development
- Unexpected day-to-day expenses for food, transportation, etc
Consult with our Skilled Family Law Attorneys
We hope this post equipped you with some of the information that you need to best apply your child support payments in the future. To learn more, call us directly at 925-271-0999. We offer free initial consultations at the Law Office of James P. White, so don’t hesitate and call today.