As August arrives in Florida, families across the Tampa Bay area are gearing up for another school year. With back-to-school expenses adding up quickly, smart financial planning becomes essential. William Broxterman, VP and Market Manager at Amerant Bank, recently shared valuable insights on Great Day Tampa about how families can maximize their back-to-school budget while building strong financial foundations for students.
Take Advantage of Florida’s Tax-Free Month for Back to School Shopping
One of the biggest advantages Florida families have is the state’s annual tax-free month running from August 1-31. During this period, families can save significantly on school supplies, clothing, and other educational essentials. Broxterman emphasizes the importance of timing your back-to-school shopping strategically during this window to maximize savings.
“When shopping for back to school supplies, take advantage of local sales combined with Florida’s tax-free month,” Broxterman advises. “This combination can result in substantial savings that can be redirected toward other educational expenses or saved for future needs.”
Student Checking Accounts: Building Financial Independence at 18
The Foundation of Financial Education
Student checking accounts represent a crucial step in financial independence for college-bound students. Starting at age 18, these accounts serve multiple purposes beyond simple money storage. They become powerful educational tools that help young adults learn essential money management skills.
“Student checking accounts are a great way to inform, educate, monitor, and track spending,” explains Broxterman. These accounts provide parents and students with real-time visibility into spending patterns, creating natural opportunities for financial discussions and learning moments.
Key Benefits of Student Banking
Student checking accounts offer several advantages specifically designed for young adults (18+):
- Real-time spending tracking for better budgeting awareness
- Parental oversight options during the transition to independence
- Lower or waived fees compared to standard checking accounts
- Educational resources to build financial literacy
- Mobile banking features designed for tech-savvy students
Smart Budgeting with Personal Finance Tools
Amerant’s Personal Finance Tool
Managing finances becomes significantly easier with the right tools. Amerant Bank’s personal finance tool stands out as a comprehensive solution for budget tracking and goal setting. This digital platform helps students and families:
- Create and maintain realistic budgets
- Track spending across different categories
- Set and monitor savings goals
- Identify spending patterns and areas for improvement
- Plan for both short-term and long-term financial objectives
“The Amerant personal finance tool is a great resource to help budget and track spending, and it can help with saving for achieving goals,” notes Broxterman. This technology empowers students to take control of their financial future from day one.
Maximize Credit Card Rewards for Back to School Expenses
Smart credit card usage can turn necessary back-to-school expenses into valuable rewards. When used responsibly, credit cards with rewards programs can provide:
- Cash back on purchases you’re already making
- Travel rewards for students studying away from home
- Special category bonuses for office supplies and bookstores
- Sign-up bonuses that can offset initial school expenses
The key is using credit cards strategically while maintaining responsible spending habits and paying balances in full each month.
College Banking Made Simple with Zelle®
Instant Money Transfers for College Students
College life often requires quick access to funds, whether for unexpected expenses, splitting bills with roommates, or receiving money from family. Zelle® integration within the Amerant Mobile app provides a seamless solution for real-time money transfers.
“Zelle® is a great way to transfer money in real time, especially when you are in college,” Broxterman explains. “This feature is already built into your Amerant Mobile app, so it’s readily accessible whenever you need it.”
Benefits of Mobile Banking for Students
Modern students expect banking to fit their digital lifestyle. Mobile banking features particularly valuable for college students include:
- 24/7 account access from anywhere on campus
- Instant peer-to-peer transfers through Zelle®
- Mobile check deposits for gift checks and refunds
- Account alerts to prevent overdrafts
- ATM locators to avoid unnecessary fees
Building Financial Literacy Through Education
The Of Interest Blog: Your Financial Education Resource
Financial education shouldn’t end when students leave home. Amerant Bank’s “Of Interest” blog provides ongoing financial tips and insights that benefit both students and parents. This resource covers topics such as:
- Budgeting strategies for different life stages
- Credit building tips for young adults
- Investment basics for long-term planning
- Debt management strategies
- Financial goal setting and achievement
“The Amerant Of Interest blog is a great way to gain financial tips that can help both children and parents understand specific financial strategies,” Broxterman notes.
Community-Focused Financial Education
Amerant Bank’s commitment to financial literacy extends beyond individual customers to serve the broader community. The bank actively participates in:
- Financial literacy programs for underserved communities
- School supply drives and educational support
- Community workshops on personal finance topics
- Partnerships with local schools and organizations
Amerant Bank’s Growing Tampa Presence
Expanding to Serve More Families
As families in the Tampa Bay area look for banking partners who understand their needs, Amerant Bank continues expanding its local presence. The bank is opening its second banking center in downtown Tampa, demonstrating its commitment to serving the local community.
“Amerant Bank is aiming to be the bank of choice in the markets we serve,” Broxterman explains. “We look forward to conversations with our neighbors about how we can help accomplish financial goals.”
Community-Centered Banking Philosophy
This expansion reflects Amerant Bank’s broader philosophy of community engagement and personalized service. The bank’s approach includes:
- Local decision-making for faster, more personalized service
- Community involvement in education and financial literacy
- Relationship-focused banking rather than transaction-based interactions
- Commitment to understanding local market needs and challenges
Action Steps for Back to School Financial Success
For Parents
- Plan shopping timing around Florida’s tax-free month (August 1-31)
- Research student checking accounts and their educational benefits
- Explore personal finance tools to teach budgeting skills
- Consider credit card rewards for large back-to-school purchases
- Set up mobile banking and Zelle for easy money transfers
For Students
- Open a student checking account at age 18 to start building financial independence
- Download and explore mobile banking apps and budgeting tools
- Learn about credit basics before applying for your first credit card
- Set financial goals for both college years and beyond
- Take advantage of financial education resources like the Of Interest blog
Planning for Long-Term Financial Success
Back-to-school season represents more than just shopping for supplies—it’s an opportunity to establish financial habits that will serve students throughout their academic careers and beyond. By combining smart shopping strategies, appropriate banking products, and ongoing financial education, families can turn this annual expense into a foundation for long-term financial success.
Whether you’re preparing for your first year of college or helping a child transition to financial independence, the key is starting with the right tools, knowledge, and banking partner. With resources like student checking accounts, personal finance tools, and ongoing educational support, students can build the financial literacy skills they’ll need for a successful future.
As William Broxterman and the team at Amerant Bank demonstrate, the best approach to back-to-school banking combines practical tools with genuine commitment to financial education and community support. This comprehensive approach ensures that students don’t just survive their college years financially—they thrive and build foundations for lifelong financial success.
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