As the school year begins, families are busy checking off supply lists, organizing schedules, and prepping lunches. But while your kids gear up for new classrooms, it’s also a perfect time to refresh your family’s financial plan.
At Phoenix Financial Group, we believe that smart fall budgeting sets the tone for the rest of the year. Here are five key steps to help your family stay on track this back-to-school season:
1. Set a Realistic Back-to-School Budget
Before you shop, sit down and create a clear budget based on your actual needs. Use last year’s spending as a guide, and don’t forget to factor in new expenses like:
- Technology upgrades
- Sports or extracurricular fees
- Uniforms or seasonal clothing
A budget prevents impulse buys and helps keep your goals in focus.
2. Shop Smart: Sales, Cashback, and Tax-Free Days
Stretch your dollars by taking advantage of:
- Tax-free weekends in your state
- Retail sales and clearance deals
- Cashback apps like Rakuten, Ibotta, and Honey
- Coupon stacking and store loyalty programs
These savings can make a big impact, especially for families with multiple kids.
3. Meal Plan to Avoid Weeknight Takeout
Back-to-school season is hectic, which makes it easy to overspend on food. Meal planning helps your wallet and your time. Try:
- Prepping school lunches on Sundays
- Planning 3–5 easy weeknight dinners
- Using apps like Mealime or Yummly
Planning ahead keeps your grocery spending in check and reduces food waste.
4. Reevaluate Your Monthly Household Budget
A new school year often means new routines and financial demands. Review your existing budget to account for:
- Increased commuting or gas costs
- Child care adjustments
- After-school program fees
Now is also the ideal time to check on your automatic savings transfers and investment contributions. Small tweaks can keep you aligned with your year-end goals.
5. Schedule a Fall Financial Check-In
Take a moment this season to meet with your financial advisor. During your fall check-in, be sure to:
- Review insurance coverage
- Update beneficiary designations
- Maximize retirement contributions
- Plan ahead for year-end tax strategies
A short meeting now can help you avoid year-end financial stress—and put your family in a better position going into the holidays.
🍂 Make This School Year Count Financially
A little preparation now can go a long way. By setting smart financial habits this fall, you’re helping your family thrive all year long.
📞 Ready for a personalized financial review?
Contact Phoenix Financial Group today and let’s update your financial plan for a smooth, successful season.