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5 Tips To A Great Start For The New School Year

by I Am Benchmark

Every new school year brings with it a clean slate, nervous excitement, optimistic hope, and high expectations. In addition to the tips we published before (A New School Year Means New Opportunities), here are 5 tips to getting off on the right foot.

 

A Place For Everything, And Everything In Its Place

Establish a designated place for all school supplies and papers. You will appreciate having a single location where school related items stay, especially when things get hectic.

 

Tell Your Calendar Who Is Boss

Schedule your family’s important doctor, dental, and other appointments ahead of time. Before blocking out your calendar with after school activities, block out important dates and appointments. The dates will be set, and you won’t be scrambling to fit them in later. Don’t forget to schedule your own appointments too!

 

Well Laid Plans Make Life Easier

When it comes to planning, anything worth doing is worth overdoing. Set yourself up for success by doing more than just planning. Over-plan, because failing to plan is planning to fail. Within a few short weeks, everyone in your household will ease into their own rhythm, and the hours will plan themselves. Until then, overdo your preparations for new learning strategies, new schedules, and new teachers.

 

Take The Time To Soak It All In

Don’t forget to stop and slow down every once in a while. Every new school year brings with it the excitement of novelty and the anticipation of change. Remember to stop every now and then, to take a deep breath, and to enjoy each moment. As Socrates famously said, “An unexamined life is not worth living.”

 

Embrace Your Inner Optimist

Attitudes are contagious, so remember to smile, maintain a positive attitude, and believe that the best is yet to come.

4 Tips to Save for Your Child’s College Tuition

by I Am Benchmark

Do you have children or grandchildren? If you do, you are likely considering their higher education opportunities long before they have similar thoughts of their own. If trends are any indicator, the cost of four year and two year universities continue to rise every year. As the cost of college increases, planning and investing in your child’s future now becomes even more important.

 

1. Take Advantage of Merit Based Scholarships

Some families don’t fill out the Free Application for Federal Student Aid because they believe their income is too high for their child to qualify. No matter your income, it is worth filling out. Most colleges offer aid based on high school academic achievements (merit). If you don’t fill out the form, you cannot  be considered for those scholarships.  You can apply by visiting https://fafsa.ed.gov and clicking “Start A New FAFSA.”

 

2. Choose an Investment Program

A 529 college savings plan is named after Section 529 of the Internal Revenue Code. This type of plan allows you to steadily grow a designated account that is designated for college tuition and other college costs. As long as the money is used appropriately, the state-sponsored investment plan gets special tax benefits. The money invested in a 529 grows tax free and is also tax free to spend on college expenses such as tuition, books, and fees. Even if you aren’t certain that your child will attend college, it’s still a good investment because you can change the recipient of the money. A grandchild, sibling, nephew, niece, or even you can use that money for education. In some states, the money in a mature 529 account can even be withdrawn for uses other than college.

 

3. Enroll in Rewards Programs

Some credit cards offer a percentage back when you shop and buy gas. If you swipe a card when you dine out, a using a card with a rewards program would give you some of that money back monthly or quarterly. Although these programs typically award a very small percentage of the purchase, this money can be invested into a designated college savings account or a 529 plan. When the new graduate in your life is ready to begin their higher education, you’ll be thankful for every penny saved.

 

4. Ask for College Fund Contributions Instead of Socks

Tired of birthday gifts or holiday gift that seem unnecessary? Instead of asking friends and family to buy your child toys, ask them to contribute to a college tuition savings account. Many states offer tax deductions for financing a college account, even if the child is not your own.

 

Plan Ahead

While it may be unrealistic to work one’s way through college like in decades past, all hope is not lost. Like all investment strategies, your biggest ally is time. With the right strategy and an early start, a debt free education really is possible.