Back-to-School Budgeting: 5 Tips for Iowa Families with Kids of Every Age
Back-to-school season is an exciting (and often hectic) time for Iowa families. From shopping lists to school lunches to new routines, the costs can add up quickly, and this is especially true if you’re not prepared.
Whether your child is just starting kindergarten or heading off to college, smart budgeting can help you avoid surprises and make the most of your money. At Bank Plus, we’re here to support your family at every stage, both financially and beyond.
Here are 5 practical tips for back-to-school budgeting for all ages, broken down by school level so you can focus on what matters most for your child.
Budgeting Tips for Elementary School Families
The early school years are full of firsts, and it’s easy to go overboard. Keeping things simple (and age-appropriate) helps save money while still setting your child up for success.
What to Budget For:
- Basic school supplies (pencils, crayons, glue sticks)
- Backpack and lunch box
- New shoes and clothing
- Healthy snacks and lunch ingredients
- After-school care or activity fees
Tips:
- Stick to the list: Schools often provide supply lists, so use them to avoid impulse buys.
- Buy in bulk and split with other families to save on high-use items like tissues or markers.
- Watch for Iowa’s tax-free weekend (if you missed this year's – mark your calendar for next August!) for school-related purchases.
- Involve your child by creating a visual checklist or giving them a small “fun” budget to manage.
Banking Tip: Consider opening a youth savings account at Bank Plus to teach your child early money habits while saving for future school needs.
Smart Budgeting for Middle & High School Students
As your child grows, so do their needs, and their expenses. From extracurricular activities to more advanced school supplies, it’s important to plan ahead.
What to Budget For:
- Locker supplies and organizational tools
- Calculators or entry-level tech
- Sports or music fees and uniforms
- School photos and yearbooks
- New wardrobe (especially for teens!)
Tips:
- Set spending limits together: Give older kids a say in clothing or supply choices—but establish a budget first.
- Track expenses with a spreadsheet or a budget app to prevent mid-year surprises.
- Plan ahead for activity fees or pay-to-play costs, which can sneak up later in the fall.
Banking Tip: Talk to your teen about opening a student-friendly checking account or prepaid card. This is a great way to practice money management with training wheels.
Related: Is My Child Ready for a Checking Account?
College Budgeting 101: Set Them Up for Financial Independence
College comes with a big transition, both emotionally and financially. Whether they’re commuting from home or moving into a dorm, it’s important to plan for all the hidden costs.
What to Budget For:
- Textbooks and course materials
- Dorm/apartment essentials
- Meal plans and groceries
- Transportation or gas
- Personal expenses and entertainment
- Emergency fund
Tips:
- Review last year’s costs, if applicable, and adjust accordingly.
- Have your student set up mobile banking to track spending on the go.
- Discuss how to use an emergency fund responsibly for medical needs, car repairs, or unexpected travel.
Banking Tip: Make sure your student has:
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- A Bank Plus debit card with real-time account alerts
- Access to mobile wallets (Apple Pay, Google Pay, or Samsung Pay)
- A joint account or a way to easily transfer money in case of emergency
Related: Mobile Wallets: Should You Be Using One?
Back-to-School Budgeting Tips for All Ages
No matter how old your kids are, these universal strategies can help your family stay financially prepared:
- Plan early: Waiting until the last minute often means higher prices and limited options.
- Shop with a list: Avoid extras by sticking to what’s needed now.
- Take inventory first: You might already have last year’s supplies in a drawer or closet.
- Use cash-back or rewards programs for online purchases.
- Track your spending with Bank Plus’s online or mobile banking tools.
One School Year, Many Stages — We’re Here for All of Them!
Back-to-school season looks different for every family, but one thing is always true: a little planning goes a long way. Whether you’re sending your child off to kindergarten or college, smart budgeting helps reduce stress and set the tone for a successful year.
At Bank Plus, we’re here to support your family through every grade, every challenge, and every milestone. Need help setting up mobile banking or opening a student account? Visit your local Bank Plus branch or explore our online banking resources today.