Back-to-School, Back to Saving: Why Now is the Time to Open a Savings Account

In the busy time of back-to-school season, many families shift their focus to schedules, school supplies, or tuition payments. This is also an ideal time to reset financially and create a stronger foundation for the school year ahead. Whether you’re budgeting for after-school programs, uniforms, or next year’s tuition, opening a new savings account—or upgrading to a higher-yield option—can help you stay one step ahead.

1. Back-to-School Season Is a Natural Budgeting Moment

The transition from summer to school routines is a great opportunity to review spending habits and refocus on financial goals. A dedicated savings account can help you separate short-term expenses (like school fees or extracurriculars) from long-term goals (like a college fund or family emergency cushion). With the right account, your savings can grow while you stay organized.

2. Open a Higher Yield Savings Account to Help Maximize Growth

If you’re setting aside funds for upcoming school-related costs—or just want to build a stronger financial safety net—consider a higher-yield savings account. With higher balances, these accounts can offer a higher interest rate than traditional savings, meaning your money works harder for you while it sits. Even small monthly deposits can add up over time.

3. Start a Savings Habit for Your Keiki

Back-to-school season isn’t just about pencils and planners, it’s also a great time to teach your children the value of saving. Open their own savings account  to help them learn by doing. Make it fun by tying it to a goal, like saving for a new backpack, class trip, or holiday gift. (And if you’re looking for a more interactive experience, explore tools like Greenlight® to combine savings with financial literacy.)

4. Take Advantage of Automatic Transfers and Mobile Tools

Many families find success by setting up automatic transfers into a savings account—turning good intentions into consistent action. Bank of Hawaii’s online banking and mobile app make it easy to move money, set savings goals, and track progress, right from your phone.

Closing Thoughts

Back-to-school season can be busy, and it’s also a fresh start. Whether you’re preparing for short-term expenses or looking ahead to future goals, opening a new savings or higher-yield savings account can help you build momentum and peace of mind.

Ready to get started? Learn more or open your account today.