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Tracking your expenses can help with child support issues

Making purchases is a common part of everyday life, so common that it is easy to forget about when, where or even what we have purchased from day to day. However, for Minnesota parents who receive or pay child support, keeping a record of purchases may take on greater importance. Fatherly explains that documenting and tracking your expenses could be crucial if you ever have to renegotiate child support, among other matters.

There are a few instances where documenting what you spend on your children can be of great assistance. If your ex-spouse suspects you are not spending support money on the children, you can prove you are spending the money in good faith. Also, if you are paying support and have recently been demoted or lost your job completely, you want to prove you have been doing your best to provide for your children and that you are not trying to falsely claim financial hardship to get out of support payments.

According to Clearpoint, a very simple way to keep track of expenses is to keep all your receipts. For one thing, if you ever need to return something you bought for your kids, like a shirt that did not fit, you have the receipt on hand to return the item. Maintaining a file of hard copies makes it easier to track what you have spent money on. Some stores even email you a copy of the receipt, which can provide a backup digital source as a failsafe.

However, nowadays many people do their shopping online, which might not leave a trail of paper receipts. Still, popular shopping sites like Amazon do send email confirmations, so you should have digital confirmation of what you have bought. Also, many vendors send along a packing slip with the package, so you could keep those as further evidence of your purchases.

A pad and paper can also work wonders. Just write down every expense you make as soon as possible. Maintaining a paper trail may also alert you if you are spending too much. For instance, the convenient nature of online shopping may motivate you to buy too much or more than you intended at that time. Adding your expenses may alert you that you are overspending.

 

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