At this point in September, many Jamaican households have just navigated one of the most expensive stretches of the year. First came the high costs of summer: larger grocery bills with children home all day, spikes in electricity and water usage, plus outings and road trips that fuelled spending. Then came back-to-school, with school fees, uniforms, books, lunch money, and transportation costs. It can feel like running a financial marathon. But now that schools have reopened and routines are beginning to settle, it is a good opportunity to pause, reflect, and take deliberate steps to regain control of your finances and your financial goals. Here are four practical ways to strengthen your household finances this September.

1. Reflect on Summer and Back-to-School Spending

Start by taking a good look at your recent expenses. Where did the money really go? Did your utility bills increase because of appliances and electronics such as fans, televisions, video games, and computers, air conditioning units and longer showers? Did petrol or toll costs rise from frequent outings? Were there back-to-school purchases that could have been staggered instead of being paid for all at once? Could you have been better prepared for those back-to-school expenses?

While it may feel a bit stressful to revisit these expenses, this review is not about guilt but insight. Perhaps appliances were left plugged in unnecessarily, or more cost-conscious habits could have been encouraged at home. In preparing for back-to-school, did you miss opportunities for grants or scholarships, such as the NCB Foundation’s Scholarship & Grants, that might have helped cover school fees? These reflections provide guidance for smarter spending, to reduce financial stress, and prepare your household for future summers and back-to-school periods.

2. Turn Routine Changes into Savings

The return to school often naturally lowers certain household costs. With children spending more time out of the house, electricity, water, and food expenses may decrease. Rather than letting these “return-to-routine” savings slip away, redirect them deliberately toward financial goals. For example, if your electricity bill drops, you could place that money in a savings account and let those savings accumulate over time. Transport costs can also be optimised through carpooling and grouping errands, which could free additional funds for saving. Likewise, low-cost family activities, such as picnics, church or community events, can replace costly summer splurges, maintaining quality family time without overspending.

3. Reorient Your Budget to Cover Essentials

With the summer and back-to-school period in the rear view, household disposable income can stabilise, making this an ideal time to review and adjust your budget. Prioritise essentials such as tuition fees, fares, lunch money, exam fees, and extra lessons. Non-essential items like extra uniforms or accessories can be phased in later. Looking further ahead, you can also allocate a portion of your budget to your child’s college fund. It could be a savings account or via the Omni Educator plan, which is designed for tertiary education and allows funds to accumulate gradually for future university or college tuition. Starting or continuing contributions now can ease the financial pressure of higher education in the future and make the back-to-school period a lot less stressful financially.

4. Use Savings from Summer Expenses to Build Financial Resilience

Once essentials and your children’s educational priorities are covered, you can use the opportunity to strengthen your household’s financial resilience by working to get your financial goals back on track. This may include paying down credit card debt accumulated during the summer and back-to-school periods. You can also build or replenish your emergency fund. Even small contributions of J$5,000 per month can grow substantially over time. Taking small, consistent steps toward reducing debt and increasing emergency savings can provide stability and prepare your household for unexpected expenses throughout the year.

Bottom Line

The intense spending of summer and back-to-school may be behind you, but the lessons from this period can guide you to make wiser financial decisions. By reflecting on spending, turning routine changes into savings, reorienting your budget to cover essentials, and using leftover funds to strengthen your finances, you can set your household up for a smoother remainder of the year. September is the perfect moment to recover, refocus, and get your financial goals back on track. This will allow you to build a foundation for long-term financial stability.

Learn more about the OMNI Educator Plan, by emailing ncbia@jncb.com or calling 888-622-3477. Money Market Unit Trusts are also an alternative to traditional savings accounts, offering a short-term investment option. Our wealth advisors are ready to guide you. Just email us at ncbcminvest@jncb.com or call 876-960-7108. Keep an eye out for future updates on our scholarships and grants by following the NCB Foundation
Instagram page @ncbfoundation.

Dr Karrian Hepburn Malcolm, Head — Wealth Management, National Commercial Bank Jamaica Limited