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As the back-to-school season kicks off, it's a great opportunity to take a step back and reassess your finances. Whether your kids are just starting kindergarten or heading off to college, careful financial planning can ease the transition and set your family up for success.
Here are some essential tips and resources to guide you through this busy season:
Back-to-school expenses can add up quickly – from school supplies to extracurricular activities. Now’s the time to revisit your budget and plan ahead. Consider upcoming costs like tuition, technology needs, or sports equipment, and allocate funds for unexpected expenses that always seem to pop up throughout the year.
If you haven’t already set up a 529 College Savings Plan, now is the time. These accounts offer tax advantages and are a great way to help fund your child’s future education. If you already have one, consider reviewing it annually to ensure it aligns with your long-term goals.
For families with high school seniors or college students, make sure you're taking full advantage of financial aid opportunities. Complete the FAFSA early and explore available scholarships and grants. Many scholarships are overlooked because they require some research – but it’s worth the effort.
If you have a college-bound student, review your insurance policies. Ensure that personal property at college is covered under your homeowner’s insurance and verify your health insurance coverage, especially if your child is moving out of state.
Start teaching financial responsibility early. For younger kids, consider setting up a simple savings account. For teens and college students, open conversations about budgeting, saving, and the responsible use of credit can help them avoid financial pitfalls later on.
Education expenses like tuition and school supplies may qualify for tax deductions or credits. Make sure to consult with a tax professional or your financial advisor to ensure you’re getting the most out of these benefits.
Helpful Resources for Education Planning
I also want to share some valuable resources to assist you in planning for your child’s education –just helpful tools that can make a difference:
• FAFSA: https://studentaid.gov – Get the latest information on federal financial aid, including application deadlines.
• College Board: https://www.collegeboard.org – A hub for SAT prep, scholarship searches, and college planning resources.
• Edvisors: https://www.edvisors.com – Expert advice on financial aid, student loans, and scholarships.
• Scholarships.com: https://www.scholarships.com – Search for scholarships based on various criteria to help fund your child’s education.
• Saving for College: https://www.savingforcollege.com – Information on 529 plans, financial aid, and college savings strategies.
• Fastweb: https://www.fastweb.com – A popular scholarship search engine and resource for financial aid and college planning.
As a financial advisor, my goal is to provide not just advice, but real solutions tailored to your family's unique needs. If you have questions about planning for your child’s education, managing school-year expenses, or long-term financial goals, I’m here to help. Let’s schedule a consultation to discuss how we can ensure your financial health while supporting your child’s educational journey.
Investing in your children’s future is one of the most important decisions you’ll make – and I’m here to help you every step of the way.
As the back-to-school season kicks off, it's a great opportunity to take a step back and reassess your finances. Whether your kids are just starting kindergarten or heading off to college, careful financial planning can ease the transition and set your family up for success.
Here are some essential tips and resources to guide you through this busy season:
Back-to-school expenses can add up quickly – from school supplies to extracurricular activities. Now’s the time to revisit your budget and plan ahead. Consider upcoming costs like tuition, technology needs, or sports equipment, and allocate funds for unexpected expenses that always seem to pop up throughout the year.
If you haven’t already set up a 529 College Savings Plan, now is the time. These accounts offer tax advantages and are a great way to help fund your child’s future education. If you already have one, consider reviewing it annually to ensure it aligns with your long-term goals.
For families with high school seniors or college students, make sure you're taking full advantage of financial aid opportunities. Complete the FAFSA early and explore available scholarships and grants. Many scholarships are overlooked because they require some research – but it’s worth the effort.
If you have a college-bound student, review your insurance policies. Ensure that personal property at college is covered under your homeowner’s insurance and verify your health insurance coverage, especially if your child is moving out of state.
Start teaching financial responsibility early. For younger kids, consider setting up a simple savings account. For teens and college students, open conversations about budgeting, saving, and the responsible use of credit can help them avoid financial pitfalls later on.
Education expenses like tuition and school supplies may qualify for tax deductions or credits. Make sure to consult with a tax professional or your financial advisor to ensure you’re getting the most out of these benefits.
Helpful Resources for Education Planning
I also want to share some valuable resources to assist you in planning for your child’s education –just helpful tools that can make a difference:
• FAFSA: https://studentaid.gov – Get the latest information on federal financial aid, including application deadlines.
• College Board: https://www.collegeboard.org – A hub for SAT prep, scholarship searches, and college planning resources.
• Edvisors: https://www.edvisors.com – Expert advice on financial aid, student loans, and scholarships.
• Scholarships.com: https://www.scholarships.com – Search for scholarships based on various criteria to help fund your child’s education.
• Saving for College: https://www.savingforcollege.com – Information on 529 plans, financial aid, and college savings strategies.
• Fastweb: https://www.fastweb.com – A popular scholarship search engine and resource for financial aid and college planning.
As a financial advisor, my goal is to provide not just advice, but real solutions tailored to your family's unique needs. If you have questions about planning for your child’s education, managing school-year expenses, or long-term financial goals, I’m here to help. Let’s schedule a consultation to discuss how we can ensure your financial health while supporting your child’s educational journey.
Investing in your children’s future is one of the most important decisions you’ll make – and I’m here to help you every step of the way.
Registered Representative of Sanctuary Securities Inc. and Investment Advisor Representative of Sanctuary Advisors, LLC. Securities offered through Sanctuary Securities, Inc., Member FINRA, SIPC. Advisory services offered through Sanctuary Advisors, LLC., an SEC Registered Investment Advisor. Credo Wealth Management is a DBA of Sanctuary Securities, Inc. and Sanctuary Advisors, LLC. This communication has not been reviewed for completeness or accuracy, does not necessarily reflect the views of Sanctuary Securities, Inc. or Sanctuary Advisors, LLC., and is not a recommendation or endorsement of any product, service, or issuer. For additional information, please refer to one of the following consumer websites: www.FINRA.org, www.SIPC.org.
We’ve worked with many of the largest corporations in the Bay Area. We know the ins and outs of their programs and we’re happy to give you an objective opinion.
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