Blog

View all posts

Building a Plan for Family and College Savings

07/01/2025

By: FNBC Bank & Trust

Building a Plan for Family and College Savings

Building a Plan for Family and College Savings

Planning for your family’s future isn’t just a good idea—it’s essential. With the rising cost of education and increasing complexity of financial markets, creating a thoughtful plan for both family and college savings can make a meaningful difference. At FNBC Bank & Trust, we offer more than accounts and loans—we offer long-term partnerships grounded in personalized guidance.

Why Family and College Savings Matter Now More Than Ever

Saving for college and your family’s long-term needs has become a balancing act. According to CollegeBoard, the average annual cost of a four-year public college exceeds $10,000 for in-state students. Once the budget factors in housing, books, and inflation, the stakes grow higher.

Families are also saving for home purchases, retirement, emergencies, and caregiving—all of which compete for financial priority. That’s why a proactive, tailored plan is crucial.

Common Challenges Families Face

  1. Delaying Savings: Many families underestimate how early they need to start saving or they continue to struggle with their own college loans.

  2. Lack of Coordination: College savings are often siloed from other financial goals.

  3. Dependence on Loans: Without early planning, families often resort to high-interest borrowing, complicating both the student’s and family’s financial future.

  4. Confusing Account Options: From 529 plans to custodial accounts to savings bonds, navigating your options can be overwhelming.

FNBC Bank & Trust's Approach to Family & College Savings

At FNBC Bank & Trust, we take a proactive and personal approach to family financial planning. Unlike larger institutions that may take a one-size-fits-all approach, our bankers and wealth advisors work directly with you to understand your household's unique goals, timeline, and values. From selecting the right savings vehicles to integrating those accounts with your broader wealth and lending strategy, we aim to build a roadmap that evolves with your family over time.

  • Prudent, unbiased investment guidance from local financial advisors 

  • Integrated planning across savings, lending, and wealth management

  • Support tools like savings calculators and financial education resources

  • Regular review meetings to adjust your strategy as your life changes

FNBC Bank & Trust offers Banzai College & Careers to help prepare students for the transition to college life! 

Building a Holistic Savings Plan

Assess Your Household's Full Financial Picture. Be sure to include income, debt, current savings, and long-term goals like buying a home, planning for a wedding, or caring for aging parents.

Start Early With College Savings Vehicles. Consider 529 plans, Coverdell ESAs, and high-yield savings accounts. FNBC’s team can help you select the right mix based on your timeline and risk tolerance.

Integrate with Broader Wealth Strategy. Don’t treat college planning as an island. Align it with retirement plans, insurance coverage, and lending needs to ensure flexibility.

Revisit and Adjust Annually. Life changes and so should your financial plan. Schedule annual reviews to keep everything on track.

We also recommend using tools like the Charles Schwab College Savings Calculator and Fidelity’s College Savings Calculator to better understand your potential cost estimates and savings goals.

How FNBC Can Help

At FNBC Bank & Trust, our mission is to support your family at every stage of the financial life cycle. Whether you are opening your child’s first savings account or planning to fund a four-year degree, we take a consultative approach grounded in expertise and trust. Our team is here to demystify the process and help you take clear, confident steps forward.

Here’s what that looks like in practice:

  • We meet with you to understand your goals and budget

  • We review your current financial structure

  • We recommend customized options based on your time horizon, risk tolerance, and future goals

Let's Build Your Plan

It’s never too early to start planning. Contact our team today to schedule a personalized consultation and begin building a financial strategy that grows with your family.

Not FDIC Insured/ May Go Down in Value/Not Guaranteed by Bank/Subject to Investment