American Preparatory Academy Teaches Families About Financial Wellness
Over one hundred American Preparatory Academy families joined online to learn about financial literacy. Everyone explored the basics of budgeting, managing debt and retirement planning.
Heidi Sanders, APA GEAR UP site coordinator, opened the presentation by discussing budgeting strategies. She encouraged families to understand their income, track every purchase for a month — either on paper or using an app — and set aside money for savings. One common tool she highlighted was a Microsoft Excel spreadsheet template.
“It was inspiring to see families engage so actively with the resources provided,” Sanders said.
Investing in students’ education was another key topic of the presentation. Sanders discussed long-term options such as 529 plans, Roth IRAs, savings bonds, and custodial accounts.
The presentation suggested that students start preparing early to invest in their higher education. If they choose to take out loans, they are aware of the repayment obligations and interest rates. A standout point for talking about investing in higher education is knowing that it is a form of investment and it is likely that the investment will lead to a higher income.
Parents also asked questions about financial planning before college and how to find scholarships. Sanders assisted them with learning where to begin and shared helpful resources.