Fall is the perfect time to reset your financial plan and refocus on the basics that build long-term confidence.
The backpacks are packed, schedules are filling up, and the school year is underway. The start of a new school year can be a good time to settle back into routines—and give your financial plan a quick reset, too.
At GW Financial, Inc., we believe that a strong financial plan doesn’t have to be complicated. It just has to be consistent. Here are a few back-to-basics moves to consider as you settle into a new school year:
1. Revisit Your Emergency Fund
Life happens. If your expenses have changed or you’ve tapped into savings, now is a great time to:
Top off your emergency reserves
Recheck your monthly spending baseline
Review cash reserves to make sure they still align with your needs and goals
2. Check In on College Savings and Financial Aid
If you're saving for a child or grandchild's education, the start of a new school year can be a good reminder to check your progress:
529 Plans: Review contributions and whether they still align with your child’s or grandchild’s education goal.
Custodial Accounts: Review balances, investment mix, and how the account fits into your overall education funding strategy.
College Costs: Revisit your assumptions about future college costs, especially as your student gets closer to making college decisions.
Financial Aid: If college is approaching, start thinking ahead about FAFSA, the Student Aid Index (SAI), and how your family's income and assets may factor into the financial aid process.
Need help estimating the cost of future education?
my529’s College Savings Estimator can help make planning for college expenses a little easier. It allows you to compare projected costs across schools, evaluate your current contributions, and consider whether adjustments to your savings strategy may be appropriate.
Higher education choices can influence your family's finances for years. Periodically reviewing your college funding strategy can help keep education goals aligned with your broader financial plan.
Wondering How Financial Aid May Fit Into Your College Plan?
If college is getting closer and you're wondering how much financial aid your student might qualify for—or how your family's income and assets factor into the calculation—schedule a Getting Acquainted Call to begin the conversation.
We can help you understand the Student Aid Index (SAI), how it fits into the financial aid process, and how college funding decisions coordinate with your family's broader financial goals.
3. Simplify to Stay on Track
Keeping things simple can make it easier to stay on track:
Automate savings where possible
Consolidate old accounts
Get clear on which goals matter most right now
Even seasoned investors benefit from a “syllabus reset.” You don’t have to overhaul everything—you just have to stay aligned with your purpose and priorities.
Already a Client?
If you'd like to review your current education savings strategy or align your broader financial plan with education-related goals, schedule a check-in with us here: Schedule a Financial Plan Update
This content is developed from sources believed to be providing accurate information and is provided by GW Financial, Inc. It is not intended to be used as investment, tax, or legal advice. The information presented is for general education and informational purposes only and should not be construed as a solicitation or recommendation. Please consult with a qualified professional regarding your specific circumstances. This article may contain links to third-party websites for your convenience. GW Financial, Inc. does not control or endorse third-party content.
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