Category Archives: Saving Money

The Reality of Childcare Costs: Ways to Save as a New School Year Begins

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A new school year can bring a welcome return to routine, but it can also bring a fresh round of expenses. Between school supplies, new clothes, extracurricular activities, lunches and after-school care – September can put added pressure on a family’s budget.

For families who rely on childcare, those costs can represent a large part of their budget. Child Care Aware of America reported that the national average annual price of childcare reached $13,184 in 2025. That represented about 10% of the median income for married couples with children and 33% for single-parent households.

The start of a new school year is a good opportunity to take a closer look at what you’re paying for care and where you may be able to save.

1. Reevaluate What Care You Actually Need

Your childcare needs during the school year may look very different from your summer schedule.

Take a fresh look at your family’s weekly routine. Do you still need full-day care, or could you switch to a before or after-school program? Are there certain days when a parent or caregiver has more flexibility? Can work schedules be adjusted so you need fewer hours of paid care?

Even reducing paid care by a few hours each week can add up over the course of a school year. Be sure you understand your provider’s policy before changing your schedule. Some childcare centers charge a flat weekly rate regardless of how many hours your child attends.

2. Compare Total Cost, Not Just the Weekly Rate

Childcare costs can vary considerably depending on where you live, your child’s age and the type of care you choose. Center-based care, family childcare homes, nannies, babysitters and school programs may all have different pricing structures. A provider with a slightly higher base rate could ultimately cost less if more services are included.

When comparing your options, look beyond the advertised weekly or monthly rate. Ask about:

  • Registration or enrollment fees
  • Charges for early drop-off or late pickup
  • Meals and snacks
  • Transportation
  • School closure or holiday coverage
  • Activity or supply fees
  • Sibling discounts
  • Whether you still pay when your child is absent

3. Check Your Employee Benefits

Your employer may offer benefits that can help make childcare more affordable.

One option to investigate is a Dependent Care Flexible Spending Account, or FSA. These accounts allow eligible employees to set aside pre-tax income for certain dependent care expenses.

For 2026, the annual dependent care FSA limit increased to $7,500 for eligible households, or $3,750 for married individuals filing separately. Because you generally contribute the money before federal income taxes are calculated, using an FSA may reduce the overall cost of eligible care. The IRS has more details on how dependent care FSAs may work alongside other tax benefits.

Some employers also offer discounted rates with local childcare providers or flexible scheduling options.

4. See Whether You Qualify for a Tax Credit

Depending on your circumstances, you may also qualify for the Federal Child and Dependent Care Credit.

The credit may be available to individuals who pay for care for a qualifying child or dependent so they can work or actively look for work. For 2026, eligible expenses generally remain capped at $3,000 for one qualifying individual or $6,000 for two or more. The actual value of your credit will depend on several factors, including your income and eligible expenses.

Tax rules can be complicated, particularly if you also contribute to a dependent care FSA. Consider speaking with a qualified tax professional about which benefits you may be eligible to use and how they work together.

5. Research State and Local Assistance

Families may also qualify for programs that help cover a portion of childcare expenses. New Jersey’s Child Care Assistance Program may be able to help eligible families pay for childcare while parents work, attend school or participate in approved training programs. Eligibility and benefits depend on factors such as household income and family circumstances.

6. Create a Backup Care Plan Before You Need It

A school closing, sick caregiver or unexpected schedule change can quickly turn into an expensive last-minute scramble.

Before the school year gets into full swing, make a list of your backup options. This could include trusted relatives, friends, neighbors, babysitters, or school programs. Knowing whom you can call and when they are available can help you avoid paying premium rates for last-minute care.

7. Make Child Care Part of Your Monthly Budget

Childcare is often one of a household’s largest expenses, so it deserves its own place in your monthly budget.

Start with what you realistically expect to spend each month, then include additional costs that may pop up during the school year, such as school vacations, summer break, registration fees and occasional babysitting. First Financial’s Home Budget Calculator can help you map out where childcare fits within your larger monthly spending plan.

Next, review the rest of your spending. Look for expenses you can temporarily reduce, cancel or renegotiate rather than automatically putting the difference on a credit card. Small adjustments to dining out, subscriptions, entertainment or other flexible spending categories can help create additional breathing room.

Remember to protect your longer-term financial goals when possible. Cutting out deposits toward your emergency savings may ease this month’s expenses, but leave you more vulnerable when the next unexpected cost arrives.

Give Your Family’s Budget a Back-to-School Checkup

Childcare is a significant expense for many families. The goal isn’t necessarily to find the cheapest option. It’s to find safe, reliable care that works for your family while making the most of the resources available.

As the new school year begins, take some time to review your care schedule, employer benefits, assistance programs and your monthly budget. A few changes today, could make managing care costs a little easier throughout the school year.

For more budgeting tips, visit our First Scoop Blog.

How to Save for Multiple Financial Goals at the Same Time

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Although some financial goals begin and end in one phase of life, many people also find that they may overlap and coexist. For example, you may be saving for a down payment on a home, while also saving for retirement and paying off student loans. Saving for multiple financial goals at once can be overwhelming, but with a little planning and focus – you can work toward all the goals that are important to you. Here are a few tips on how to save for multiple financial goals at the same time.

Take a Snapshot of Your Current Financial Situation

To be in control of your financial goals, you first need to be in control of your finances. Having a clear view of your finances will help you set realistic expectations given your current situation.

Make a planned budget and compare it to your actual budget, or what took place over the course of the month. Let’s face it – life happens and you won’t always follow your planned budget perfectly. Maybe you worked fewer hours, or your electric bill was higher than expected. It’s still important to have a general idea of your income and expenses so you can determine what you can comfortably put toward your financial goals each month.

Don’t have a budget yet? Check out our Fillable Budget Worksheet to quickly and easily create a snapshot of your monthly finances.

Make Your Financial Goals Specific and Realistic

Many goals fail because they are vague, making it difficult to monitor progress and leaving you uncertain in how to achieve them.

Clearly defining your goals is especially important when you are balancing multiple financial goals. A popular framework for making specific, realistic goals is making them SMART – specific, measurable, achievable, relevant, and time-oriented. Take the goal save for vacation, as an example. It becomes a SMART goal when it looks like: Save $2,000 over the next year to go on an international vacation.

Check out our article for more tips on how to clearly define your goals.

Pro Tip: Research shows that you’re 2x more likely to achieve your goal if you write it down!

Prioritize Your Goals

Prioritizing your goals doesn’t mean abandoning all but one – it means deciding where your money will have the greatest impact now. If you’re saving for multiple goals, you might feel tempted to contribute to all of them equally – for example, $100 to each across the board. However, not every goal requires the same attention at the same time. Prioritizing can help you decide the goals that need immediate attention vs. those that can be funded over time.

An effective way to prioritize financial goals is by time horizon – or how long until you need the funds for a specific financial goal. Short-term financial goals are those you wish to achieve within one year, medium-term is more than one year but less than five years, and long-term means in five years or more. A short-term goal could be saving for a summer vacation or a down payment on a car, while a long-term goal could be fully funding your retirement. Once you achieve a goal, the monthly savings dedicated to it can be redirected to another goal.

Build an Emergency Fund into the Plan

Consider an emergency fund if you don’t have one. An emergency fund is money that’s set aside to cover unexpected expenses or a sudden loss of income. This is helpful because it can aid you in covering expenses that would otherwise take savings away from other goals.

Decide Where to Save

After you’ve planned your goals, it’s time to decide where to keep those savings. Do you want to keep all the money in one account? Do you want to have separate accounts for separate goals? There are many different savings options, such as Personal Savings Accounts, Money Market Accounts, and Savings Certificates. If you’re live, work, worship, volunteer, or attend school in Monmouth or Ocean Counties in NJ – see how First Financial can help you save for multiple financial goals simultaneously through our various savings account options.*

Make Saving Automatic – And Fun

Especially when juggling multiple goals – setting up automatic, recurring transfers to your savings can help you stay on track and never miss funding a goal, even on busy days.

Saving doesn’t have to feel like a chore, either! Consider printable savings worksheets that allow you to color in dollar amounts as you reach each milestone, keep a coin jar to save your spare change, or take on a side hustle. This can keep you motivated to save.

Revisit Your Goals

It’s important to remember that your goals might need to be adjusted from time to time. Your circumstances may change – maybe you got a raise, had a child, or decided you want to purchase a home sooner. Circle back when your circumstances change – to ensure your contributions to savings accurately reflect your current financial situation, priorities, and financial goals.

Making consistent progress toward multiple financial goals can seem overwhelming – but with a little planning and discipline, will bring you closer to achieving the financial life you dream of.

*A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. View full Rewards First program details.

Budget-Friendly School Lunch Ideas Your Kids Will Actually Enjoy

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Back-to-school season means back-to-lunchbox season, and costs can add up fast. With pre-packaged snacks and specialty ingredients, it’s easy to overspend on lunches kids might not finish. However, budget-friendly doesn’t have to be boring! With pantry staples and simple prep, you can pack affordable, quick lunches your kids will actually look forward to this school year.

Changing habits can lead to noticeable savings by report card time. Here are 4 budget-friendly lunch ideas your kids will actually enjoy, plus some shopping and prep tips to help you keep the whole week on budget too.

Lunch Ideas Kids Will Love

1. DIY Lunchables

Store-bought lunch kits are convenient, but often cost more for packaging than food. Make your own with a divided container and include deli meat, cheese, and crackers. Buying a block of cheese and slicing it yourself can really cut down on costs. You can also add grapes or apple slices for a little something extra, that’s also healthy.

2. Chicken Wraps

Try a quick chicken wrap that mimics a popular fast-food snack wrap. Shred leftover rotisserie chicken, mix it with some ranch dressing, and layer it in a tortilla with shredded lettuce and cheese. Roll it up, cut in half, and it’s ready to pack. This quick and budget-friendly meal takes just minutes to make.

3. Banana Sushi Rolls

Kids enjoy food that looks different, think banana sushi. Spread a tortilla with peanut or sunflower butter, place a peeled banana, roll tightly, then slice into rounds to resemble sushi. It’s a sweet, inexpensive lunch, as bananas are affordable year-round.

4. Breakfast for Lunch (Pancakes or Waffles)

Having breakfast for lunch is a simple win, especially for kids who’d eat pancakes anytime. Make mini pancakes or waffles on the weekend, freeze, and pack with syrup or yogurt for dipping. It’s also a quick reheat meal using common ingredients, turning an ordinary Tuesday into a treat.

Smart Shopping and Prep Tips for Parents

Shop for Staples, Not Specialty Snacks

Snack packs, yogurt tubes and cheese sticks often cost more for convenience. Buying larger versions and portioning them out yourself can cut costs without changing the actual food.

A simple way to keep lunches varied is to stock a small rotation of staples: Tortillas, rice or pasta, canned beans, eggs or deli meat, and seasonal fruits and vegetables. Mixing these core ingredients weekly avoids buying new, specialized items daily.

Give Each Day a Theme

Assigning a loose theme to certain days of the week can make planning almost automatic and take the guesswork out of “what am I packing for my child today?” A sample rotation might look like wrap day, pasta salad day, dip-and-dunk day (hummus, veggies, and crackers), leftovers day, and on Friday – breakfast-for-lunch day to close out the week. Having a default plan means fewer last-minute trips to the store for something special mid-week.

Make Sunday Your Prep Day

Spending just thirty minutes on a Sunday can save time and money during the week. Use that time to hard-boil eggs, wash and chop produce, portion snacks, and cook grains like rice or pasta for multiple meals. Prepared ingredients make busy mornings easier and reduce the temptation to buy expensive foods on the go.

Get Your Kids Involved

Kids might eat their lunch more willingly if they helped create it. Offering them a choice between two affordable options, instead of deciding for them – fosters a sense of ownership without exceeding the budget. Younger children can help assemble a wrap or organize the lunchbox tray, while older kids can handle packing their own DIY lunchables or slicing banana sushi rounds.

Round it Out with Affordable Sides

A lunch isn’t complete without a side, often leading to unnoticed costs. Budget-friendly options can include sliced carrots or cucumbers with hummus, pretzels, trail mix, fruit, or applesauce. Buying in bulk and dividing into reusable containers can save both money and time.

Keep Lunches Fresh Until Lunchtime

Budget-friendly lunches only pay off if they actually get eaten, and that often comes down to freshness. An insulated lunch bag paired with a reusable ice pack keeps items like yogurt, cheese and deli meat at a safe temperature until midday.

A Few More Money-Saving Habits

  • Cook once, eat twice. Extra rice, pasta or shredded chicken from dinner can become tomorrow’s lunch with almost no additional effort.
  • Buy produce in season. Fruits and vegetables cost less, and often taste better when they’re in season locally.
  • Pack from what you already have before buying something new. A quick inventory of your fridge and pantry before you shop, can prevent duplicate purchases and reduce food waste.

Small changes to how you shop and prepare can add up to real savings over an entire school year. If you’re looking to build lunch costs into your broader household budget, First Financial is here to help. Check out our budgeting guide and fillable budget worksheet to help plan for upcoming monthly expenses. Stop by a branch or give us a call at 732.312.1500 if you’d like to make an appointment to talk through planning your family’s financial goals and budget.

How to Save Money on Maternity Items

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Welcoming a baby is an exciting, and often expensive, life milestone. One area that can quietly add up is maternity clothing. Because changes take place quickly and pieces may be worn for only a short period of time, it can feel difficult to justify spending money on a temporary wardrobe. The good news? With a few thoughtful strategies – you can stay comfortable, confident, and financially mindful throughout your pregnancy.

Here are a few ways to save money on maternity clothes and other pregnancy essentials.

1. Start With What You Already Own

Before purchasing new maternity items, take inventory of your current wardrobe. Many non-maternity pieces can work beautifully during pregnancy – flowy tops, oversized sweaters, stretchy leggings, maxi dresses, and open cardigans. You may be surprised at how long you can make your existing wardrobe work with just a little creativity. Stretchy fabrics and layered looks can carry you through multiple trimesters without requiring a full wardrobe overhaul.

2. Wait Before Buying Everything at Once

It can be tempting to shop right away, but your body will continue to change over several months. Instead of buying a large maternity wardrobe early on, consider waiting until you truly need specific pieces. This helps you avoid purchasing items that may not fit comfortably later and keeps you focused on essentials rather than impulse buys. Buying gradually allows you to better assess what you actually wear and need.

3. Explore Secondhand Options

One of the most effective ways to save is through gently used maternity clothes. Consider:

  • Local thrift or consignment stores
  • Online resale platforms
  • Neighborhood and community social media groups

Maternity clothes are often lightly worn, making secondhand options both affordable and practical. Many parents are often happy to pass along items they no longer need.

4. Say Yes to Hand-Me-Downs

Hand-me-downs aren’t just for baby clothes. Friends, family members, or coworkers who have recently been pregnant may still have maternity clothing stored away. Accepting these items can significantly reduce your expenses and you can always pay it forward when you’re finished with them. Some communities even create informal swaps among expecting parents.

5. Shop Sales and Clearance Strategically

If you do purchase new maternity clothes, timing matters. Look for:

  • Seasonal clearance sections
  • End-of-season sales
  • Outlet pricing
  • Promotional discounts

Focus on versatile basics such as one or two comfortable pairs of maternity leggings, a few tops, and a neutral dress that can be mixed and matched into multiple outfits. A small “capsule wardrobe” often works better than buying many single-use pieces.

6. Use Simple Tools to Extend What You Have

Small accessories can make a big difference. Waistband extenders, belly bands, and layering pieces can help your pre-pregnancy pants and tops last longer. These inexpensive items may allow you to delay purchasing maternity-specific clothing altogether.

7. Keep the Big Picture in Mind

Maternity clothing is temporary. While it’s important to feel comfortable during pregnancy, it’s equally important to prioritize long-term financial goals as you prepare for your growing family. Being intentional with maternity purchases frees up room in your budget for future needs – such as baby essentials, childcare planning, and building savings.

First Financial is Here to Help

Preparing for a new baby brings joy, along with new financial considerations. Saving on maternity items is one way to stay mindful of your budget as you prepare for this next chapter. At First Financial, we’re proud to support families during every life stage. Whether you’re looking to strengthen your savings, build an emergency fund, or create a financial plan for your growing household – our team is here to help you make confident, informed financial decisions.

Explore our savings options, budgeting tools, and resources or connect with a team member today to start planning for your family’s financial future. We’re happy to help!

*A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan. Contact the Credit Union for more information.

What to Buy After the Holidays: Smart Savings Tips

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The holidays are over, but the savings season is just beginning! What savvy shoppers know is that the weeks right after the holidays are some of the best times of the year to stretch your money. Retailers are now discounting seasonal goods and popular products to clear space for new inventory, and you can really benefit. Keep reading to learn what you should consider buying right after the holidays to save big.

1. Wrapping Paper and Gift Bags

As soon as the holidays end, stores slash prices on wrapping paper, gift bags, bows, and tags – often 50% to 75% off. These supplies are perfect to stock up on for the next year. Keep them organized in a clear container labeled by size and occasion so you’re always ready when gift season rolls around again.

2. Holiday Decor

Everything from artificial trees to outdoor inflatables, ornaments, and string lights drop in price after December 25th. If you decorate every year, buying ahead can save you a bundle. Only buy decor you truly love or will use again though. Quality holiday items can last for many seasons.

3. Winter Clothing and Gear

Post-holiday markdowns extend to winter apparel such as coats, boots, gloves, hats, and cold-weather gear. Retailers know demand dips after gift buying, so discounts can be significant.  Buying winter gear on clearance in January means you’re set for the remainder of this winter and to kick off the next.

4. Fitness Items and New Year Essentials

While prices on gym equipment and activewear are often high in December, starting in January – retailers begin discounting items tied to New Year’s resolutions like fitness gear, yoga mats, home-gym equipment, and sports apparel. You’ll want to make a list before heading to the store so you don’t overspend.

5. Holiday Candy and Treats

After the holidays, seasonal candies and packaged treats are heavily discounted, sometimes up to 70% off. Because many of these items have a long shelf life, they can be great for stocking your pantry. Use these for baking, party platters, or as affordable treats throughout the year.

6. Toys and Gift Items

Toy discounts skyrocket as retailers prepare for new seasonal assortments. Whether it’s board games, building sets, or action figures – you can often find quality gifts at a fraction of original price. Now is the perfect time to pick up gifts for upcoming birthdays or do early holiday shopping for next year!

7. Baking and Pantry Staples

Some stores also discount holiday baking supplies like flour, sugar, spices, and chocolate chips once the season ends. Because they store well, you can buy in bulk now and save. Stock up on what you know your household will use before expiration.

How This Fits Your Financial Plan

Shopping smart after the holidays can be a helpful strategy for managing your household budget.

  • Stretch your dollars. Buying items at steep discounts means more money stays in your savings or goes toward debt reduction.
  • Plan ahead. If you know what you’ll need later in the year, after-holiday sales offer a chance to check those off at lower prices.
  • Avoid impulse buys. Not every discount is a bargain. Stick to your list and only buy what aligns with your financial goals.

A Chance to Save

The post-holiday period isn’t just about ending one season, it’s a chance to save and get ahead for the next. Whether you’re replacing last year’s decor, prepping for birthdays, or stocking up on essentials – thoughtful spending now can pay off big in the months ahead.

Ready to make your finances go further in 2026? Subscribe to our First Scoop Blog and learn more ways to save throughout the year.

How to Save for the Holidays Year Round

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Saving for the holidays year round can help reduce stress, avoid last minute debt, and give you more flexibility to enjoy the season. With the right plan and the right savings tools, you can make holiday saving simple and automatic. The beginning of a new year is the perfect time to start!

Why Saving for the Holidays All Year Long Makes Sense

Spreading holiday expenses out over the course of the year has real financial benefits:

  • Less stress during the holidays: You’ll already have funds set aside when the season arrives.
  • Avoid high-interest debt: Planning ahead can help reduce reliance on credit cards or loans.
  • More room in your monthly budget: Smaller, consistent deposits are easier to manage than one large expense at the last minute.
  • Greater flexibility: Having holiday funds ready allows you to enjoy experiences, traditions, and generosity without guilt.

Starting early puts you in control before holiday costs pile up.

How Our Holiday Club Account Helps You Stay on Track

First Financial’s Holiday Club Account is designed specifically to help you save consistently for holiday expenses throughout the year.* Instead of trying to remember to set money aside, this account makes saving structured and simple.

Here’s how it works and why it’s effective:

  • Open at any time: You don’t have to wait for a specific season to get started.
  • Automatic renewal: Your account will renew each year, so holiday saving becomes an ongoing habit.
  • Annual dividends: Dividends are posted annually on balances of $100 or more.
  • Dedicated purpose: Keeping holiday savings separate helps prevent spending these funds on everyday expenses.

By the end of October, your Holiday Club funds will be deposited directly into your First Financial account, ready for you to use.

Make Saving Easy with Automation

One of the biggest reasons people struggle to save is simply forgetting, or feeling like there’s never extra money left at the end of the month. Automation removes that barrier.

With a Holiday Club Account, deposits can be made in ways that fit your lifestyle:

  • Payroll deductions: Automatically direct a portion of your paycheck into your Holiday Club Account.
  • Direct deposit: Set up recurring transfers from your income.
  • In-person or mail deposits: Add funds whenever it’s convenient.

Even small, regular contributions can add up over time. For example, saving $20–$25 per week throughout the year can create a meaningful holiday fund by the time the season arrives.

The Power of Starting Early

Opening a Holiday Club Account early in the year gives your savings more time to grow and removes pressure later on. Instead of scrambling in the fall, you’ll already be prepared with less financial strain and more peace of mind.

Saving year round also allows you to adjust as life changes. You can increase or decrease contributions, plan ahead for travel, or prepare for larger holiday goals without feeling rushed.

Plan Ahead and Make the Season More Enjoyable

The holidays should be about connection, celebration, and enjoying time with loved ones – not worrying about finances. Saving year round helps you plan ahead, stay organized, and feel confident when the holiday season arrives. A little planning today, can make a big difference tomorrow.

Stop into your local branch, call 732-312-1500, or contact us to get started today!

*A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. Click here to view full Rewards First program details. Some restrictions apply, contact the credit union for more information.