Congratulations! You’ve survived the summer. But can your wallet afford the high costs of back-to-school season? A 2014 survey by the National Retail Federation found that families with school-age children planned to spend an average of $669.28 on back-to-school expenses, a 5-percent increase over the previous year. Paying for college can also be hard. Thankfully, there are a variety of strategies that can be used to help pay for school. Start saving and planning today and learn about the different ways to make it more affordable for you.
During August we will focus on tips and resources available to help you discover how to prepare for the expenses of the future, how best to access your money for education costs, and how to teach your child financial responsibility that comes with adulthood. Weekly tips will include information on preparing for your child’s future education, understanding the differences between loans, approaches to paying back student loans and other strategies for paying for school.
Sending your kids back to school doesn’t have to be a financial hurdle you face each year. With a little planning and a few of these tips, you and your family can get ready to tackle a new school year with everything you need, including a little extra in the bank.
Montana Credit Unions for Community Development (or MCUCD) is the award-winning, charitable arm of the Montana Credit Union Network. A state-wide nonprofit organization, MCUCD works together with the state's credit unions to improve the lives and financial independence of all Montanans.