Back-to-School, Back to Budgeting: Financial Planning for Divorced Parents

September marks more than the end of summer - it’s also the season of back-to-school expenses. For divorced parents, this time of year often brings unique financial challenges. From school supplies and clothing to extracurricular activities and after-school care, these costs can add up quickly. Without clear planning, they can also become a source of stress or conflict.

At Leeward Divorce Financial Planning, we know that successful co-parenting goes hand in hand with sound financial planning. Here are key strategies to help divorced parents stay on top of back-to-school expenses while keeping peace of mind.

1. Review Your Parenting Plan and Support Agreements

Many divorce agreements outline how educational expenses are shared. September is a good time to review these terms and make sure both parents understand their responsibilities. If your agreement doesn’t specify details like extracurricular activities or technology costs, consider having a conversation now to avoid disputes later.

2. Create a Shared Back-to-School Budget

Transparency helps reduce conflict. A shared budget, whether managed through a spreadsheet, co-parenting app, or simply a checklist, can help both parents see where money is going.

Include items like:

• School supplies and backpacks

• New clothing or uniforms

• Technology needs (laptops, calculators, tablets)

• Sports, music, or club fees

• After-school care or tutoring

3. Plan Ahead for Hidden Costs

It’s easy to budget for pencils and notebooks, but back-to-school season often includes hidden expenses like field trips, lab fees, or team travel. Build a cushion into your budget so you’re not caught off guard.

4. Coordinate Larger Purchases

For higher-cost items, such as laptops or sports gear, consider cost-sharing or alternating years. This prevents one parent from shouldering the bulk of expenses and ensures both are equally involved in supporting their child’s needs.

5. Keep Communication Open and Positive

Ultimately, financial planning during back-to-school season is about more than just money—it’s about creating stability for your children. Clear communication helps reduce tension and allows your kids to focus on what matters most: learning and thriving in school.

Take Control of Your Future

At Leeward Divorce Financial Planning, we help parents navigate the financial complexities of divorce so they can focus on building a secure future for their families. If you’re preparing for the school year and want to feel more confident about your financial plan, we’re here to guide you.

Kimberly can provide step-by-step guidance on matters related to divorce. With a wide range of experience and expertise related to divorce issues, our team will simplify the process and provide much-needed clarity in areas such as long-term tax consequences, asset, and debt analysis, dividing pension plans, continued health care coverage, stock option elections, protecting support with life insurance, and much more.

Schedule Your FREE Discovery Call Today!

This information is not intended to be a substitute for seeking legal advice from an attorney. For legal or tax advice please seek the services of a qualified attorney and/or qualified tax professional.