Back to School Budgeting Tools for the Whole Family

From first-day crayons to dorm-room fans, a smart budget is one of the best school supplies you can have! Here are some practical tips for all age groups to help you prepare for the upcoming year. Here are some back-to-school budgeting tools and ideas to help you prepare for the new school year!

For Kids & Families

Back-to-school season is a great time to start building healthy money habits. Breakwater offers youth savings accounts to help kids learn the basics of saving, goal-setting, and smart spending. Whether it’s budgeting for school supplies or saving for a field trip, getting kids involved in their finances early sets the stage for a bright financial future.

Here are a few simple ways families can budget for the new school year together:

Make a Back-to-School Shopping List Together: Help your child prioritize needs versus wants and set a clear budget before you shop.
Apply the 50/30/20 Budgeting Rule to Back-to-School Shopping: Stay on track during back-to-school shopping by dividing spending into needs, wants, and savings. Prioritize the must-haves like notebooks, pencils, or calculators, while setting limits for extras and putting a portion aside for future school expenses.
Shop at Home First: Take inventory of what you already have. You might be surprised by how many pencils, notebooks, and supplies are hiding in drawers. Then consider browsing for items online to compare prices and set a budget.
Set a Small Savings Goal: Encourage kids to save allowance or birthday money toward a “want,” like a trendy backpack or Bluetooth headphones.

For Teens & Young Adults

Ready to get started?

Download our printable Back-to-School Budgeting worksheet to start planning your back-to-school shopping trip. Learn to identify wants versus needs to create an informed budget for the coming school year. The form is also fillable on your computer!

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Whether you’re heading to high school, starting college, or moving out on your own, now is the time to start taking control of your finances and build smart money habits that stick. From managing everyday expenses to requesting an occasional loan from your parents, Breakwater is here to help make the transition to adulthood a little smoother.

Here are a few ways Breakwater can support your journey as a financially responsible young adult:

Debit Cards for Teens: Teens age 15+ are eligible (with parental permission) to receive an instant-issue, contactless debit card!
Convenient Access on Campus: Heading to Michigan Tech this fall? With several ATMs located on Michigan Tech’s campus, students have easy access to cash without extra fees.
MoneyPass® ATMs Nationwide: Going away? Your Breakwater FCU debit card can be used at MoneyPass® ATM’s across the country with no fee!
Member-to-Member Transfers: Parents or guardians can quickly and securely transfer money directly into your account, even if you’re attending school out of the area. This can be done online or at our in-person at our branch!
Free Financial Literacy Resources: Access Breakwater’s online learning hub, where you can explore real-world topics like budgeting, credit, loans, and more. These self-paced lessons are designed to help you improve your money skills! As a member of Breakwater, you also have free access to EverFi—an interactive platform for learning how to manage your finances with confidence.
Learn at One of Our In-Person Events: Breakwater hosts workshops like Money Talks for Young Adults, where you can learn about budgeting, credit, saving, and other essential financial topics in a relaxed, conversational setting. These events are a great way to ask questions, play games, and gain real-life money skills. Check out our events calendar for upcoming events!

Budget Like a College Student: Monthly Expense Challenge

Think you have what it takes to budget for rent, groceries, a vehicle, and other everyday living expenses? Complete our budget worksheet and see if you can break even after one month in our adult budget simulation.

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