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In the busyness of summer, back-to-school time tends to arrive quickly. It always did for my family. One day, the kids are enjoying time at the park or pool, then before you know it, it’s time to buy notebooks, pencils and folders – not to mention put money in lunch accounts.

Back-to-school costs add up – planning helps

For many families, those expenses add up. Financial strain increases. On average, families spend about $850-$900 on back-to-school expenses – things like supplies, clothing, activity costs and technology. If you have a child in college, that number jumps to around $1,300 .One member recalled the stress of shopping the weekend before school started because her family didn’t have anything saved. She wanted something different for her own family. With guidance from a Summit financial coach, she now sets aside a small amount throughout the year for school expenses. It’s a simple change, but it has reduced pressure and given her more flexibility when the season arrives.Fortunately, schools make it pretty easy to see what supplies are needed, which helps with planning. Online shopping makes it convenient to find deals or spread out purchases. A basic estimate of what’s ahead can create more flexibility and fewer last-minute decisions.Access on the Summit website. In our online and mobile banking, members can also set up dedicated savings accounts and create savings goals.

Helping kids learn about money

Back-to-school season is also an opportunity to start conversations about money with kids and teens. More and more parents are talking with their kids about wants vs. needs, spending, saving and planning.One way we get the conversation going is with . Four teams compete for a chance to win $10,000 by reducing debt and increasing savings. With guidance from Summit financial coaches, they share their learning and tips on social media and in blog posts.From Project Money Season 18, Ana is a mom to two young adults. She said she’s looking forward to teaching her kids everything she learns, which will then help them build positive lifelong financial habits.Another reality kids and parents are facing is more reliance on plastic and digital payments. While cash isn’t going away anytime soon, a lot of places no longer accept it. One member opened a for her son after he went on a school field trip where only card payments were accepted. He made it work at the time with help from a friend, but it highlighted how quickly things are changing.Accounts designed for students can help bridge that gap while creating real learning moments. With tools like debit cards, mobile wallets and spending alerts, kids and teens can begin managing money in a way that brings independence. At the same time, parents get peace of mind, stay informed and step in when needed, like turning the card “off” using the app.

Looking ahead – education and what’s next

While the focus is often on the school year starting right now, many families are thinking further ahead.
No doubt artificial intelligence (AI) is shaking a lot of things up – including college. According to a recent Gallup poll , 42% of bachelor’s degree students are re-evaluating what they want to study because of AI. But while AI might be changing some things, a college education still opens up access to broader career opportunities and greater lifetime earnings potential .Planning ahead can make that path more flexible. Options like 529 college savings plans are widely used because they help families prepare in a structured way. They offer tax-advantaged growth, flexibility for different types of education expenses and the ability to adapt as plans evolve.At Summit, we see every day how small financial decisions, made consistently over time, can build something much bigger. For many women, especially those managing households, careers and long-term goals, that confidence matters. It’s not just about covering expenses today. It’s about creating options for tomorrow.Whether you’re planning for the school year ahead or thinking further into the future, . We’re here to help you reduce financial stress, build confidence and move forward with a plan that works for you.