Back-to-School: Beyond Backpacks and Tuition
“Train the young in the way they should go…” — Proverbs 22:6.
As mothers, grandmothers, and women of faith in business, our instinct is to protect, nurture, and prepare. We plan for education. We plan for opportunities. We plan for their future.
But one question is often left unasked: What happens if life doesn’t go according to plan, especially when it involves our children and our ability to provide, work, or care for our family?
Stewardship is not only about raising children in faith. It is also about preparing wisely for the realities of life. It’s about being role models leading in stewardship. Today, many families are exploring financial strategies that not only support long-term growth but also provide protection and flexibility along the way.
Starting Early Matters
Time creates opportunity. When financial strategies are started early, they have more time to grow. Over time, consistent contributions combined with compounding can create meaningful financial resources. Children are typically insurable at lower costs, and early planning preserves future options and access.
This is sometimes referred to as a “Million Dollar Baby” concept, not as a guarantee, but as a reflection of what is possible when time, structure, and consistency come together in a tax-advantaged environment. When started early, even modest contributions over time can grow significantly. Waiting can limit your options.
A Flexible Strategy Matters
Women balancing family needs, business responsibilities, and long-term planning need to maintain flexibility while enjoying tax-advantaged growth with access to funds for education or life opportunities.
Many Catholic families choose to learn about several types of financial strategies, depending on their goals and circumstances. These may include:
Education savings plans, such as 529 plans
Custodial savings or investment accounts established for a child
Permanent life insurance strategies that may accumulate cash value when appropriately designed
Roth IRAs for working teenagers who have earned income
Family emergency savings designated for unexpected needs
Trusts or estate planning strategies designed to protect and transfer assets
Multi-generational financial planning that helps children and grandchildren build healthy financial habits over time
Many families are familiar with 529 plans for education savings. While valuable, they are designed for specific educational use and are limited in how funds can be used without penalty.
Other strategies, when properly structured, may provide broader flexibility, allowing families to respond to real-life needs rather than predefined categories.
An impactful question is not which strategy is best, but which combination of strategies best supports your family's goals, values, and circumstances. Understand your options so you can choose wisely. Planning ahead is not fear. It is love in action.
Stewardship Begins with Financial Education
We need to teach our children about planning for their future, not just save for them. Financial educator Beth Kobliner, author of “Make Your Kid a Money Genius (Even If You're Not),” encourages parents to begin age-appropriate money conversations early. She emphasizes habits that can shape a lifetime of sound financial decision-making.
Helping our children understand earning, saving, giving, spending wisely, and delaying gratification. This beautifully complements our call to stewardship as Catholic women. We guide and form both faithful hearts and faithful financial stewards when we teach our children gratitude, generosity, wise decision-making, and responsibility. When we plan with both faith and foresight, we don’t just prepare our children for life; we prepare them to flourish.
Protection for the Unexpected
“The prudent see danger and take refuge…” — Proverbs 22:3
We rarely want to imagine it, but wisdom asks us to consider: What if a child experiences a serious health challenge?
According to the National Association of Insurance Commissioners (NAIC), medical-related financial strain remains one of the leading contributors to family financial hardship. In addition, according to the Centers for Disease Control and Prevention (CDC), a significant number of children face serious illnesses or injuries each year requiring extended care. If a child experiences a serious health condition:
A parent may need to step away from work or business
Income may be interrupted or decrease
Expenses may increase
Other children still need care and support
In these moments, access to financial resources can create stability where there would otherwise be stress. Clarity around your options and having the right protection in place means you’re prepared to protect yourself, your children, and your business when life matters most. Some life insurance strategies include living benefits that may allow access to funds in these situations, helping families focus on healing instead of financial pressure.
A Back-to-School Financial Checkup
As this new school year approaches and you begin to prepare your children, consider asking yourself:
Have we updated our family emergency fund?
Have we reviewed our beneficiary designations?
Are we teaching our children healthy money habits through everyday conversations?
Have we reviewed our college savings and long-term financial goals?
Do we understand the financial protection strategies available to our family?
If something unexpected happened, would our family have the financial flexibility we need?
Sometimes the most important back-to-school preparation isn't found in a backpack - it's found in the financial conversations we have at home, leading them with wisdom. They follow in the footsteps of our financial habits. We get to step into financial leadership, guiding and forming faithful stewards who learn to understand that every resource is God-given and that we have the responsibility, the opportunity, and the divine blessings to honor God and serve others.
Important to Note: This article is for educational purposes only and should not be considered financial, legal, or tax advice. Consult with a licensed professional for guidance specific to your situation.
Rita Boccuzzi is a Money Education Mentor, Wealth & Retirement Strategist, life insurance, living benefits certified, with over two decades of experience, devoted to helping women in business and their families find clarity, confidence, and peace in their financial lives. As Founder & CEO of Flourish Inc. and Executive Vice President of Five Rings Financial, she guides others to faithfully steward what God has entrusted to them by connecting mindset to practical financial skillset, so they can save, grow, and protect what they have built with purpose. A wife of 36 years, proud mom and grandma, and Eucharistic Minister, Rita lives in California where she enjoys hiking, reading, and being in nature, and can be reached at Rita@FlourishWithRita.com.