The end of the year is an ideal time to review your family's finances and plan for the year ahead. Taking a few small steps now can help you start the new year feeling prepared and confident.
Start by writing down what your family earns and spends each month. Include things like rent, groceries, gas, and bills. Then discuss ways to save together. Even small changes, such as skipping a takeout meal or turning off lights when not in use, can make a noticeable difference.
Tennessee also offers programs to help families reach their financial goals.
Programs for Kids and Education
· TNStars College Savings 529 program - Families can save for their child's education with no income limits and low startup costs. You can open an account with as little as $25 and use it for college, trade school, or career training. Learn more from the Tennessee Department of Treasury or read kidcentral tn's overview of TNStars.
· Tennessee Education Savings Account (ESA) Program - Provides eligible K-12 students in certain school districts with a savings account to help pay for approved education costs, such as tuition, tutoring, and textbooks.
· Tennessee Education Freedom Scholarship Program - Starting in 2026, this program expands to include more Tennessee students, allowing many families to use state funds toward school tuition and learning expenses.
Other Financial and Family Supports
If your family could use some extra help, Tennessee also offers programs that support daily needs:
· Families First (TANF) - Provides temporary cash assistance and job training.
· SNAP – Helps families buy healthy, nutritious food
· Child Care Payment Assistance - Helps pay for child care if parents are working or in school.
· WIC Program - Supports pregnant women, new mothers, and young children with healthy food and nutrition education.
Taking time to explore these programs can set your family up for a brighter, more secure year ahead. Small choices today can help your family grow, save, and thrive together.