2015-05-19T12:31:23-0500 2024-02-01T13:28:33-0600 True Learn about expense tracking and payment management after divorce or separation. Learn about expense tracking and payment management after divorce or separation. /sites/default/files/Expense%20-%20UK.png Shared Parenting Expenses
Published: May 19, 2015
Updated: Feb 1, 2024

Expense Tracking and Payment Management

Keeping track of spending related to your child can prove to be a tedious task for any parent, but this responsibility can prove to be twice as tedious (not to mention, complicated) for divorced or separated parents.  Even if you can say that your current relationship with your co-parent is amicable, disagreements surrounding money have a tendency to in incite conflict.  By finding a way to accurately manage expense and payments, co-parents can better avoid moments of conflict surrounding money.

Expense tracking and payment management are important elements maintain in order to promote a low-conflict relationship with your co-parent. Although, co-parents often struggle to do so properly when using the same forms of expense tracking and payment management that they used before the split. In this situation, parents need a tool which keeps expense and payment-related information well organised and accurate. On top of expenses, finding an appropriate yet convenient way to manage payments will also prove to be a necessity. While personal money management tools exist, most are not tuned precisely to meet the needs of divorced or separated parents. Don't think that this kind of tool is far from reach because an expense tracking and payment management solution for co-parents certainly does exist through the tools offered within the Expense Log on the OurFamilyWizard website. Now in its fifteenth year, the OurFamilyWizard website helps families across the globe to better track expenses and manage payments using secure, user-friendly tools. While complex in the level of documentation and accounting provided, the OurFamilyWizard Expense Log is easy for any parent to use.

Accuracy and convenience are primary elements to each of the tools in the OurFamilyWizard Expense Log.  As you enter your basic details, the website will do the math for you. Every expense is assigned a category which divides that expense based on the precise percentages of responsibility for each parent in your family. The expense tracking tools in the OurFamilyWizard Expense Log go even further to let you view current expense totals such as what has been paid and what is still owed. Expense statuses will also help you to get a clear picture of which expenses have been addressed and which are still pending approval or reimbursement.

Management of expenses and their related payments is un-convoluted on the OurFamilyWizard website, with your choice of payment method. Payments made outside of the OurFamilyWizard website, such as via cash or check, can be easily noted in the Expense Log. When a payment is sent, the sender is able to login from their computer or straight through their smartphone using the OurFamilyWizard mobile app to document the payment with the payment date, total and a note regarding the method of payment. Up receipt, the recipient will be able to mark this payment as received with the click of a button. Again, no math is involved for either parent because the Expense Log will update expense and payment totals to deduct what was paid and display what still remains as unreimbursed. 

Whether you need to track important unreimbursed medical payments, child support or school tuition, managing co-parenting expense and payment is made simple and hassle-free when using the OurFamilyWizard Expense Log. These expense tracking and payment management tools on OurFamilyWizard.com are just a few elements of a much larger account that provides more tools to help facilitate the management of all of the other important aspects of co-parenting and divorce communication. If you find yourself in a tough spot when it comes to managing expenses and tracking payments with your co-parent, why not take a step towards reducing conflict regarding co-parenting expenses and create an OurFamilyWizard account for your family today.