MILWAUKEE -- Some kids are already back in school -- and the rest will be soon. And for many families, that can mean their finances may need to be fine tuned. Emily Holbrook with Northwestern Mutual joins Real Milwaukee to help parents prepare for all the fees, sports equipment and more with back-to-school budget.
Create a budget study guide.
• Setting - and sticking to - a budget for school supplies and other fees can help keep back-to-school spending to a minimum.
Try to avoid (extra) credit.
• If possible, avoid using your credit cards to pay for school supplies and other fees.
Test out new ways to save.
• Consider building a back-to-school fund with monthly contributions throughout the school year.
Study up on your savings options.
• It's never too early to start putting money aside for your child`s higher education.
Evaluate your financial report card.
• Back-to-school season is also a great opportunity to reset your family`s financial picture. At mid-year, how would you grade yourself on reaching your financial goals?