Parents are an important role model for financial wellness as children witness the financial decisions that are made while growing up. Resources are included below for parents who may need some assistance or want to share learning tools with their kids. Information is also available for parents who are preparing for college costs and decisions.
Tools for Families with Kids and Young Adults
- Children and Money is an article provided by eXtension. It contains material relevant to introducing finances to children.
- The Education Store is provided by Purdue Extension. The Education Store offers games, booklets, and articles covering a vast array of subjects.
- The Federal Student Aid website has a college preparation list for middle school students. From here you can learn what middle school students and parents can do to start building a strong academic record and a healthy savings account.
- The Family Budget Analyzer brought to you by FinAid.org compares your family's annual expenses against regional and national norms to help you identify expenses above or below national averages. The Family Budget Analyzer uses data published by the Bureau of Labor Statistics' annual Consumer Expenditure Survey as a basis for the calculator.
Saving for College
Students face many choices when planning for college and cost is only one of them. But, let’s face it, college is expensive. Families need to have a well thought out strategy for paying for college in place, prior to the time their students enter college. The following websites can help families form a good strategy.
- fastweb.com provides the top ten practical college saving tips.
- There are several myths about saving for college. The most common myths are that there are penalties for saving or that college savings plans are available only for the wealthy. These myths are harmful because they discourage families from saving for college. Visit FinAid.org to dispel all these myths and to become saving savvy.
- The following savings strategies provide advice on how to make it easier to save. Visit FinAid.org to find easy saving tips.
- Planning for the future today can make all the difference tomorrow and a CollegeChoice 529 Direct Savings Plan can help you plan for future college expenses. Click the link above and learn how a 529 Direct Savings Plan can benefit you.
- Upromise is an innovative service that helps with saving for college by helping its members get money back from their everyday spending.