The back-to-school season has a way of sneaking up fast. Whether you're shopping for elementary school supplies or preparing a student for their first semester of college, the costs can add up quickly.

The good news? A little planning now can help you avoid unnecessary stress later. From taking advantage of school supply sales to exploring scholarships and budgeting for college expenses, here are a few ways to get financially prepared before the first day of class.

Start Shopping Early

While it may seem early, you’ll soon start seeing the back-to-school displays up in stores, and shopping in late July often means you'll find the best selection before popular items sell out.

A few tips to stretch your budget:

• Shop with your school's supply list in hand.
  • Tip: Even if you don’t have the school supply list yet there are some items you know will be on the list that you can get ahead of time, and check off the final few items once you get the official list.
• Compare prices between stores.
• Watch for sales on high-ticket items like backpacks and calculators.
• Reuse supplies from previous years when possible.
• Purchase only what you need now - you can always pick up additional items later.

Planning ahead can help you avoid last-minute shopping trips and impulse purchases.

It's Not Too Late to Look for Scholarships

If your student is heading to college, don't assume scholarship opportunities have passed. While many larger scholarships have deadlines earlier in the year, there are still local, community, employer-sponsored, and college-specific scholarships available throughout the summer - and even during the school year.

Even smaller scholarships can make a meaningful difference when it comes to paying for books, supplies, or other education expenses.

Start by checking:

• Your student's school counselor or financial aid office
• Local community organizations
• Employers
• Scholarship search websites

A little time spent searching and applying could pay off in a big way.

Plan for More Than Just Tuition

For college students, tuition is only one piece of the puzzle. Before classes begin, take time to create a budget that includes other common expenses, such as:

• Textbooks and supplies
• Housing and meal plans
• Transportation
• Technology
• Parking fees
• Everyday spending

Knowing what to expect can help prevent surprises once the semester is underway.

If you anticipate needing additional funds, explore your financing options early. Compare interest rates, repayment terms, and borrow only what you truly need. Understanding your options before the semester begins can help you make informed financial decisions.

Help Your Student Build Strong Financial Habits

Heading off to college, or even starting a first job during high school, is a great opportunity to begin building lifelong money management skills.

Open a Checking Account

A checking account gives students a convenient way to manage their money, receive direct deposits, pay bills, and keep track of spending using online and mobile banking.

Check out our FREE checking account options HERE

Build Credit Responsibly

For students who are ready, a credit card can be a valuable tool for building credit history. The key is using it responsibly by making purchases they can afford and paying the balance on time.

Developing healthy credit habits early can make it easier to reach future financial goals, like renting an apartment, financing a vehicle, or buying a home.

Think Ahead About Transportation

If your student will need reliable transportation for school, work, or extracurricular activities, now is a great time to start looking.

Take time to compare vehicles, research insurance costs, and determine what fits your budget. If financing is needed, exploring auto loan options before you begin shopping can help make the buying process smoother.

Looking for a vehicle? Our Find MyRide tool lets you browse local vehicles, compare options, estimate monthly payments, and view a FREE CARFAX® report when available - all in one convenient place.

Create Healthy Money Habits

Small habits can make a big difference over time. Encourage students to:

• Set a monthly budget.
• Track their spending.
• Save a portion of every paycheck.
• Review account activity regularly.
• Understand the difference between wants and needs.

Learning these skills now can set them up for financial success long after graduation.

Get Ready for a Successful School Year

Whether you're sending a child to kindergarten or helping a college student prepare for campus life, a little financial planning today can make the school year a lot less stressful tomorrow.

At FinancialEdge Credit Union, we're here to help you prepare for every stage of life's journey. From checking accounts and credit cards to auto loans and other financial solutions, we're committed to helping our members feel confident about their finances.

Visit www.finedgecu.org or stop by your nearest branch to learn more about the products and services available to help make this back-to-school season a success.

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