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Utah is full of rich history and natural resources. It’s no wonder so many students want to study in the Beehive State. Taking the time to learn about grants, scholarships, student loans, and student loan forgiveness options for Utah students can be an important way to help make sure you aren’t overwhelmed by college costs. Here’s what you need to know.

SoFi offers simple student loans that work for you.

Scholarships & Grants

Get low-rate in-school loans that work for you.

Utah Student Loan Repayment & Forgiveness Programs

We’re hearing more and more about the “revenge saving” mindset: the impetus to stash your money away with the same intensity that you may have spent it after COVID lockdowns ended.

The driver? A need to feel in control over rising costs and an unpredictable economy. (And in some cases, a little regret about not hanging on to more of your cash after the pandemic.)

Indeed, there’s growing evidence that the U.S. is shifting into a more frugal mode. After nearly steady monthly declines in 2024, Americans’ saving rate (the % of disposable income that people save vs. spend) is ticking back up this year. Workers are contributing a record share of their paychecks to their 401(k)s. And challenges like “no-buy July” are sweeping social media.

As inflation and tariffs fuel economic uncertainty, 52% of Americans polled by Marist/Yahoo Finance in May were eating out less, 48% were spending less on clothing, and 39% were cutting back on travel.

So what? No matter where the economy is headed, you’re not likely to regret some extra financial discipline. If your inner revenge-saver is ready to come out, one way to maintain momentum is to earmark savings for specific expenses that fall outside your regular budget.

Here are a few tips:

•  Whether you’re saving for your next vacation or for a set of braces, separating your cash into goal-specific buckets, or “sinking funds,” can make it easier to track your progress. By walling off these funds, you’ll also be less tempted to dip in and use the money for other things.

•  The beauty of sinking funds is they keep you organized and on track for financial goals – i.e. planned expenses. Keep them separate from your emergency savings, which you’ll want as a buffer if you lose your job or something else goes wrong unexpectedly.

•  You can have a sinking fund for just about anything: Maybe you’re saving to cover necessities like that bathroom that needs renovating or replacement tires for your car. Or, perhaps you want to avoid breaking the bank on fun stuff, like new climbing gear or Comicon tickets.

•  Thanks to modern tech, there’s no need to dig backyard holes or open a dozen new accounts. One option is to create SoFi Vaults within a primary SoFi high-yield savings account. With up to 20 separate vaults available, you can explore sinking fund categories beyond the standard vacay and holiday gifts to quality-of-life upgrades like a new pet or hobby.

Saving starts with a mindset. It’s not about denial and deprivation, but control and agency. Reframe it as a choice, and you’re much more likely to make it happen.

Related Reading

Feel Like Saying ‘Screw You’ to the Economy? Try Revenge Saving (CNET)

Sinking Funds: Everything You Need To Know (How to Money)

8 Key Frugal Living Tips (SoFi)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM20250811SW

Whether you need a crisp new notebook and a snazzier backpack or a fresh shower caddy and a better dorm-room organizer, back-to-school shopping can give many families with students a unique kind of thrill. What’s not so thrilling: how quickly the costs add up.

Inflation’s been heavy for years, and now we have to factor in the tariff math too. Nearly 75% of back-to-school shoppers in a PwC survey earlier this year said they anticipated spending the same or more than last year.

Families with kids at home estimate they’ll spend an average of $858 (between electronics, clothing, shoes and school supplies,) while those with college students are looking at a total of $1,323, according to a July survey by the National Retail Federation.

No matter how old your student is, here are five ways to tackle your list without blowing your budget.

1. Shop at home first. See which items you can check off your list without ever having to whip out your wallet. Raid your closets, junk drawers, and old backpacks for forgotten supplies. Check if you can spare linens and towels for the dorm. And ask yourself — and your student — what really needs to be new. Maybe you realize last year’s unstained lunchbox works fine, and those jeans likely have a few months left. (You might even free up clutter in the process — like a stash of stationary you didn’t know was stuffed in a drawer.)

2. Make budgeting the first assignment of the year. Once you’ve gathered all you can at home, craft a must-have vs. nice-to-have list. Kids change their minds like changing outfits, so deciding on purchases before can help. Then, set a budget, and challenge yourself to stick to it. This can be especially helpful with younger kids, who might pick up every “Bluey”-themed item they see.

Pro tip: Discuss the back-to-school budget with your kids. Only 30% of parents in a recent Nerdwallet survey said they have talked to or will talk to their kids about their budget, but it’s a great opportunity to teach them about financial limits and setting priorities — and to practice their math skills.

3. Timing is key. Getting started on your list before peak back-to-school shopping season may help you get better deals and will spread out your spending. It’ll also give you more time to compare whether prices for specific items are better online or in stores. And take advantage of any sales tax holidays your state may have for the season. Florida waives sales tax on many purchases throughout the month of August, for instance.

4. Reframe frugality. Nearly half of parents in the NerdWallet survey said they would go into debt (!) for back-to-school items that would help their child fit in. But it’s actually cool to cut back right now, making this a great time to reframe your child’s (or your own) money mindset. Maybe try thrift shopping? Second-hand buys are more sustainable, and college kids probably won’t need much convincing that vintage jeans and one-of-a-kind mugs offer bragging rights.

5. Buy off-brand. Cost-conscious parents are switching to generic options and store brands to save cash. At the end of the day, a mechanical pencil is a mechanical pencil, and your kid won’t care if it’s from Target’s store brand or Pentel’s. This logic can extend to the lunchbox, too: Store brand foods can cost up to 72% less per serving than name brands, according to Consumer Reports.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM2025081101

The focus narrows this week.

With earnings season slowing to a trickle, one thing will dominate the conversation: inflation.

The main events will be the release of the Consumer Price Index (CPI) on Tuesday and the Producer Price Index (PPI) on Wednesday. CPI, the most widely followed measure of inflation, measures the average change in prices paid by consumers. The PPI, on the other hand, offers a look at inflation pressures earlier in the pipeline by tracking the change in wholesale prices – the prices charged by U.S. manufacturers and other producers.

With investors sensitive to potential tariff impacts, these won’t be routine data releases. Given how much Federal Reserve officials have highlighted uncertainty around tariffs, lower-than-expected readings would likely cement market expectations for an interest rate cut in September. On the other hand, a surprisingly high number could throw a rate cut in doubt.

Economic and Earnings Calendar

Monday

•  No notable events are scheduled.

Tuesday

•  July NFIB Small Business Optimism: This measures how small business owners feel about current and future economic conditions.

•  July Consumer Price Index: The CPI is one of the most popular indicators for tracking consumer price trends and is a marquee release for market watchers.

•  July Treasury Statement: This summarizes the U.S. federal government budget by tracking government revenues and expenditures.

•  Fedspeak: Richmond Fed President Tom Barkin will discuss the economy at a Health Management Academy event.

•  Earnings: Cardinal Health (CAH)

Wednesday

•  Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.

•  Fedspeak: Richmond Fed President Tom Barkin will discuss the economy at a Greenville Chamber of Commerce event. Chicago Fed President Austan Goolsbee will speak at a monetary policy luncheon hosted by the Greater Springfield Chamber of Commerce. Atlanta Fed President Raphael Bostic will discuss the economic outlook at a luncheon hosted by the regional bank.

•  Earnings: Cisco (CSCO)

Thursday

•  July Producer Price Index: The PPI tracks price trends that producers face and is down significantly from its peak earlier in the cycle.

•  Weekly Jobless Claims: This high frequency labor market data gives insight into filings for unemployment benefits. Initial jobless claims have remained mostly steady, while continuing claims have increased of late.

•  Fedspeak: Richmond Fed President Tom Barkin will have a webinar conversation with the president of the National Association for Business Economics.

•  Earnings: Applied Materials (AMAT), Amcor PLC (AMCR), Deere & Company (DE), Tapestry (TPR)

Friday

•  July Retail Sales: This measures spending at retail stores and is a key indicator of consumer demand.

•  August Empire State Manufacturing Activity: The New York Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

•  July Import/Export Price Indexes: These indexes track the changes in the prices of nonmilitary goods and services traded between the U.S. and the rest of the world.

•  July Industrial Production and Capacity Utilization: The industrial sector accounts for much of the cyclical swings in economic activity.

•  August University of Michigan Consumer Sentiment: How consumers feel about economic conditions affect their spending habits. This survey places a particular focus on inflation and its trajectory.

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Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.