Back-to-School Banking Survival Notes: Parents Edition
Are you ready for back to school? With costs going up due to inflation, many parents are feeling the pressure of a tightening budget more than ever. Here are some tips to lessen the financial stress as you navigate your child’s return to school:
Make a List and Stick to It
It’s a tale as old as time: you go shopping with a few things in mind. By the time you’re done, you have a whole cartload that turned a $50 trip into $100! This can especially happen when it comes to back-to-school shopping. Your kids want the coolest backpack, the prettiest folders or those super cool dinosaur shoes.
A great way to save money during back-to-school shopping season is to make a list of what your child needs and stick to that list. You could even set a limit on how much you can afford to spend. If you happen to be below that limit when you’re finished, consider treating your child with those dinosaur shoes!
Check out our budgeting tool, provided by our partner Greenpath, if you need help getting started with a back-to-school budget.
Create a Savings Share Just for Back-to-School
Sometimes the expenses that send you overbudget are the unexpected ones: field trips, fundraisers, a gym uniform, etc. One way to always be prepared for the expenses that pop up throughout the year is to have a dedicated savings share just for your child’s school activities. You could contribute as little as $5 per month and have a headstart on any of the expenses that enrich your child’s time in school!
Track Your Spending
Do you find that you overspend because you’re not sure how your money adds up? When you use our handy “Spend Insights” Tool in the Card Management Widget in Online and Mobile Banking, you can clearly see where money goes. Once you know where it’s going, you have the power to decide how to spend it going forward. When it comes to back to school, this means realizing you may need to cut back on wants like shopping or fast food until September.
Earn Rewards on Your Spending
Don’t let your spending go to waste—make your back-to-school shopping count with uChoose Rewards®! Every time you swipe your credit or debit card and skip the PIN, you’ll earn points you can use to redeem top-tier rewards. These rewards include:
- Cash back
- Amazon and PayPal purchases1
- Gift cards
- Travel experiences
- Loan rate reductions2
Insured by NCUA. Membership eligibility required.
uChoose Rewards® is a registered trademark of Fiserv, Inc. To learn more about uChoose Rewards®, log in to your online account.
1Registration with uChoose Rewards® and enrollment with Amazon Shop with Points is required to use points at Amazon.com checkout. Available on eligible transactions. Terms apply.
2First mortgage home loans, credit cards, and line of credit loans are not eligible.