The professional divorce mediator at Westfield Mediation, LLC, will help you create a budget. You will address the lifestyle you had during the course of your marriage, so you both realize how you were spending your income. Then you will each create a post-divorce budget for your new lifestyle. When children are involved, one of the trickier concepts is the cost of a line item in the budget that includes some expense for the children and who is paying for it. For example, the cell phone bill may include your cell phone and the children’s cell phones. Are you paying for the entire bill or is your co-parent contributing to this expense. Some expenses, that are not included in child support, are entirely attributed to the children, such as summer camp, violin lessons, therapy or tutoring. Are you paying for the entire expense, is your co-parent paying for the entire expense, or are you both contributing to it? Knowing what is expected of you can help you allocate your funds accordingly.
And this can be empowering. You are in charge of what is happening with your monthly income. Your monthly income may also include child support and/or spousal support (alimony) in addition to your paycheck. Or your outlay may include your monthly bills plus x amount in child support and/or spousal support each month. That can be scary, while also feel freeing. You are in charge of how you handle your money and expenses and can make whatever changes you deem are needed. It is up to you!
For more information on divorce and divorce mediation, please contact Michelle Weinberg, M.Ed., Licensed Marriage and Family Therapist, at Westfield Mediation, LLC at 908.913.0373. View the website at www.westfieldnjmediation.com or email info@westfieldnjmediation.com.