As summer will begin for many children (and their parents!) over the next few weeks, I wanted to put out this post in hopes of making our clients (and perhaps myself) feel more normal.
I’ve heard from many families about the different commitments their children’s activities are taking on their personal schedules, and their wallets. My girls are in competitive dance, my nephews in baseball, nieces in swimming, softball, and gymnastics. I like to say that ‘I’m into golf’, but that seems to get squeezed out by busier and busier schedules. (I’m fighting for this!)
I was born in 1982 in rural central Iowa where we had town baseball until July 1st, and then it was all about where the summer vacation was going to be. In talking with some of my friends these days, squeezing in vacations before school starts up again will indeed be quite the challenge.
One friend mentioned to me that they had children in different activities and are just planning on allocating those funds to college as soon as those kids graduate – sort of a college expenses training ground. I kind of like this approach as it creates long-term discipline.
I’d encourage clients to investigate their states’ 529 College Savings plans, as many of them offer state tax benefits, as well as tax-free savings for college.
One approach I’d like to share that has helped my family during these hectic months, is that on the 1st weekend of the month, my wife and I sit down and run through our professional and personal schedules. We ensure we are on the same page with social commitments and work items. A lot of the time, my digital approach runs up against my wife’s more analog way of pen and paper.
Most importantly, through this process we ensure we schedule those days where our family – just the four of us – are connecting and enjoying each other.
I’ve always heard it said that you can always juggle multiple things, just don’t drop the ones that matter the most. That has always stuck with me and remains more important than ever in this busy world we now live in.
Ryan