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10 Tips for Saving on Back-to-School Shopping |
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 I know it seems early to start thinking about back-to-school but, for many of us, the next school year is less than a month away. I wanted to share a few tips on how you can reduce the costs and the financial stress experienced by your family. Recent research shows that financial stress is linked directly to weight gain. The average family spends approximately $500 per child for back-to-school supplies and clothing. If you have children, you know the beginning of each year brings a flurry of expenses. If you have more than one child, the costs can be astronomical!
You can reduce those costs significantly by making a few small changes in your buying strategies.
1. Make a realistic budget that is within your means and stick to it
2. Only use cash to pay for back-to-school items. This will make you more conscious of how much you are spending and will reduce impulse buys. Additionally, you will save money by not paying interest on the credit card or the loan.
3. Take an inventory.
- Are the last year’s uniforms or clothing in good shape and fit properly? If so, save some of your budget for later in the year when replacement is necessary. If not, can you sell the old uniforms at a consignment shop or passed down to a younger child?
- Do you have left over notebooks, pens, pencils, markers, etc from last year?
- Is the backpack from last year reusable?
4. Shopping for bargains
- Save sale papers from local stores and compare prices
- Use coupons
- Buy off brand items
- Don’t buy all the school supplies needed until after school starts. On the first day of school, ask what items are immediately necessary. Buy those items and purchase the rest when stores put overstocked items on clearance.
- Shop online at bulk office supply stores
5. Form a shopping co-op with other parents. Ask other parents to contribute to bulk purchases for the classroom supplies.
6. Use online price comparison shopping sites or auction sites for electronics or gadgets.
7. Get organized. Take time to make a shopping list and location of deals. Remember, with the cost of gas, it might not make sense to go across town to purchase an item that saves you less than $1.
8. Rent vs. buy. If your child is taking band, opt to rent the instrument versus buying the instrument.
9. Have the kids pay for “I want” items. If your child or teen wants fancy school supplies or a new, backpack ‘just because’ then have them purchase the item from their savings or allowance.
10. For creative kids – let them ‘re-purpose’ garage sale or thrift store clothing, fabric lunch boxes, or backpacks. Allow them to use fabric paint, jewels, or patches to make their items look like new and to show off their personality.
These are just a few ways to reduce costs and teach your children the art of frugality. Afraid you can’t get their buy-in on the new plan? Get them involved. You might be surprised what things that they would be willing to forgo for a trip at spring break or next summer!
Enjoy the remainder of your summer. Be creative and have fun.
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