First child will be in freshman HS next year and has very little money saved for college

Yes, the usual standardized test schedule (other than AP tests for associated AP courses) would be:

10th: optional PSAT
11th: PSAT to try for National Merit; SAT and ACT in spring, SAT subject tests at the end of the year for associated courses if the student is aiming for colleges that want SAT subject tests
12th: SAT or ACT retry (of whichever one is initially higher) if desired.