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After the dissolution of a marriage, it is common for one parent to pay child support if there are minors involved. Regardless if you are the one making these payments or receiving them, it is important to include them in your monthly budget. Below, a compassionate attorney from the Bates Law Firm PLLC in Wadesboro, NC, shares a few tips for managing your finances after such an order has been handed down:

How to Manage Child Support 

1. Devise a Budget

Child support ensures your kids have access to everything they need; it is not to compensate the primary caregiver for tasks that all parents do. Accordingly, it is rare for those receiving the payments to have any extra leftover by the end of the month. For this reason, all parties benefit from devising a budget. Calculate spending habits, as well as how much you earn after tax and health care insurance deductions.

2. Invest in Your Children

child supportSince support orders aim to benefit the children involved, find ways to ensure they do. Any amount left over each month should be put aside toward their future. Plan for their education, college tuition, and purchasing a pre-owned car. 

Similarly, those making the payments should also find affordable ways to invest in their children’s talents and passions. For example, if your son or daughter loves drawing, consider purchasing a few sketchbooks and heading to a museum in Charlotte. Not only will this foster your kid’s gifts, but you’ll also be offering a memorable outing.

3. Review Your Financial Situation Periodically

Modifying a child support order is not always easy. If you or your ex’s circumstances have recently changed, a family law attorney can help you request an alteration of the current order. Just knowing about the option may relieve a considerable amount of stress if you lose your job or your finances take a turn for the worse.

It is natural to experience frustration and resentment during child support proceedings, especially for the parents who have been ordered to make payments. Fortunately, you can eliminate many of these negative feelings by focusing on what your children are gaining rather than what you might be losing. If you have questions about securing or modifying an order, turn to the Bates Law Firm PLLC in Wadesboro, NC. You can learn more about the firm’s foundation in family law and the mediation services they provide by visiting their website. To schedule an initial consultation with a seasoned professional, call (704) 694-0195 today.

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