Get $100 Amazon.com gift card when you enroll in a Prepaid Plan by December 9.Learn More
Girl playing guitar in music class

6 Tips for Affording Your Child’s Changing Educational Needs


Raising and educating your children, whether they’re teens, tweens or toddlers, puts a strain on the wallet. Add persistent inflation into the mix, and affording your child’s growing needs can present a real challenge.

Even after parents survive the pricey daycare years, they’re not exactly home free. As early as elementary school, kids need everything from tablets and laptops to earbuds and cellphones to navigate their education. And as the years go by, the backpacks, sneakers and clothes only get larger and more expensive. Not to mention the cost of extracurricular activities and college tuition!

So how do parents afford it all? With a blend of careful planning and the willingness to pivot when necessary. We sifted through the biggest obstacles and concerns, consulted the experts and came up with six helpful tips:

  • Start with an Elementary School Budget. Public school is free, but it’s smart to set aside money for school supplies, clothing and field trips. As your child grows, the cost of technology, study aids and educational opportunities grows along with them. A monthly or per-semester budget will pay off in the long run as middle school and high school needs arise.
  • Make Saving a Habit. It’s OK to start small. Just make sure you start! And keep doing it regularly until setting aside that money becomes automatic. Recruit the whole family by keeping a spare change jar in a central location where everyone can contribute. By the time your child becomes a teenager with a car, they will have a better appreciation for paying for gas!
  • Shop During Annual Sales Tax Holidays. When your high school student needs a bigger-ticket tech gadget, these annual events can make a difference. Here in Florida, exempt items typically include clothing, shoes and accessories $100 or less; various school supplies $50 or less; learning aids $30 or less; and personal computers and related accessories priced $1,500 or less.
  • Explore Refurbished Devices. Don’t discount the power of recycling! Lots of name-brand tablets, laptops and phones are being refurbished and sold at discounted prices. It requires some research and attention to detail, but can definitely ease the strain on your budget.
  • Lock in Future Postsecondary Costs. Freeze your child’s future tuition and most fees at today’s prices by opening a Florida 529 Prepaid Plan. Payments are not subject to stock market fluctuations, and they’re fully refundable and guaranteed by the State of Florida. Prepaid Plans can also be used at in-state, out-of-state, public, private, trade and technical schools across the country. Whether your child wants to earn a traditional liberal arts degree or pursue a career as a chef, you will be covered!
  • Save Smarter. Act now to open a tax-free Florida 529 Savings Plan. It’s flexible, allowing you to save what you want when you want or even set up automatic payments for as little as $25 a month. When the time comes, your child can use this money to pay for a traditional four-year college or university experience, as well as certain apprenticeship programs and professional certifications. The Florida 529 Savings Plan also covers housing and meal plans, books and supplies, and computers and equipment. (And remember — any money you save today is money they won’t have to borrow later!)

No one ever said it is inexpensive to raise a child and invest in their learning journey. But with a little bit of planning and thought, the expenses can feel more manageable!

Have more questions? We’ve got answers! Explore our Frequently Asked Questions to learn more about our Prepaid Plans and Savings Plan. And click here to start your savings now!

Share this:

Give them the gift of education.

Enroll in a Prepaid Plan by Dec. 9 and get a $100 Amazon.com gift card!

You have Successfully Subscribed!