Private

Companies

Emigrants

Cards

Market

Properties Caixa

Microcredit Caixa

Non residents

Financial Education

Financial management tips for back to school

The back-to-school season brings fresh beginnings, but it can also come with financial pressures for students and families. Learning to manage money wisely, whether it’s pocket money or other resources – is key to navigating the school year with ease.

In this chapter on Financial Education, we provide practical guidance to help students take control of their finances responsibly and build lifelong money management habits.
1. Plan your allowance
The beginning of the school year is the perfect moment to set priorities and draft a simple budget that balances essential expenses, leisure and savings.

This helps develop healthy financial habits from an early age.

Practical:
  • Set priorities: Focus first on essential needs like school supplies, transport, and meals before spending on extras
  • Create a monthly budget: Divide your allowance into categories (e.g. 50% for fixed expenses, 30% for leisure, 20% for savings). Track your spending using an app, Excel sheet, or a simple notebook.
  • Control impulse buying: Pause before making a purchase and ask yourself: “Do I really need this right now?”
2. Manage school expenses
Planning and organising school expenses ahead of time makes it easier to save both money and time.

Useful tips:
  • Shop early: Get school supplies before classes begin to benefit from discounts and promotions.
  • Reuse what you already have: Check if items from last year, like backpacks or rulers, are still in good condition.
  • Compare prices: Explore different stores, both online and offline, to secure the best bargains.
3. Responsible use of resources
Smart resource management means setting aside savings for unexpected needs, steering clear of unnecessary debt, and making the most of free or low-cost alternatives.

Best Practices:
  • Save for the unexpected: Keep 10–20% of your allowance aside for unforeseen needs, such as extra school activities.
  • Avoid debt: Do not borrow money for unnecessary purchases. If you need something more expensive, save up and plan ahead.
  • Take advantage of free resources: Make the most of school libraries and other available materials to cut down on costs.
4. Extra Tip: invest in financial education
Learning how to manage money is a vital life skill. The earlier you begin, the more benefits you will reap.

How to invest in yourself:
  • Expand your financial knowledge: Take part in our workshops or read books such as ‘A Poupança do Zito’ (Zito's Savings). Caixa offers resources and sessions for young people on financial management.
  • Define your goals: Plan for specific objectives such as saving for a course, a computer, a trip, or a school exchange. Clear goals give you motivation and direction in managing your money wisely.
With these simple tips, students can start the school year with confidence and security, knowing that they are managing their money wisely and responsibly.
 
Caixa is here to guide and support you at every satge of your financial journey.
Back to previous page