Saving on Back-to-School

The back-to-school season can be a challenging time for parents and guardians. Between supplies, books, clothing, and fees for extracurricular activities, the costs add up quickly. However, with a strategic approach, you can keep these expenses in check while ensuring your child has everything they need to succeed. Here are practical tips to help you save on back-to-school essentials.

Set a Budget

According to Deloitte's 2023 Back-to-School Survey, parents spent an average of $597 per student on school-related expenses for the 2022-2023 school year. Those costs can escalate further if you have multiple students or a college-age child.

  • Start by reviewing your overall budget and determining how much you can allocate for back-to-school shopping.
  • Break your budget into categories, such as supplies, clothing, and books.
  • Most importantly, stick to your budget to avoid overspending.

Take Stock of What You Have

Before shopping, go through your home and take inventory of items you already have.

  • Check closets, drawers, and storage bins for supplies like notebooks, pens, backpacks, and lunch boxes.
  • Sort through your child's clothing to see what still fits and is in good condition.
  • Wait for the school supply list to avoid buying unnecessary items.

Set Limits with Your Kids

As kids grow older, they often want trendy name-brand items that can strain your budget.

  • Explain your budgetary limits and involve them in making decisions.
  • Teach them about the value of money and the importance of prioritizing quality over logos or trends.
  • Consider allowing them to pick one or two trendy items while sticking to budget-friendly options for the rest.

Where to Find Deals

Smart shopping is key to saving money on back-to-school items. Here are some ways to find the best deals:

1. Track Sales

  • Check weekly flyers and online ads from office supply stores, big-box retailers, and grocery stores.
  • Many sales start a few weeks before school begins, so plan accordingly.

2. Shop Discount Retailers

  • Stores like Ross, TJ Maxx, and Marshalls offer high-quality items at lower prices.
  • Dollar stores are great for notebooks, pens, and index cards.

3. Use Price Comparison Apps

  • Download apps like ShopSavvy or RedLaser to compare prices across stores and find the best deals.
  • Scan barcodes while shopping to ensure you get the lowest price.

Additional Ways to Save

Explore these additional strategies to cut costs:

1. Download Digital Textbooks

  • Many schools now offer digital textbooks, which are often more affordable than physical copies.

2. Visit Thrift Stores

  • Thrift stores are excellent for finding gently used clothing, backpacks, and even sports gear at discounted prices.

3. Shop Off-Peak

  • Wait until after the back-to-school rush to buy items at clearance prices.
  • Stock up during end-of-season sales for the following year.

4. Shop in Bulk

  • Buy bulk items like pens, notebooks, and snacks at warehouse stores. This saves money and ensures you have supplies for the entire school year.

Final Thoughts

Back-to-school shopping doesn't have to break the bank. Setting a budget, taking stock of what you already have, and strategically shopping can save money while ensuring your child is well-prepared for the school year. Remember, teaching your kids about financial responsibility during this time is a bonus that will serve them well. Planning and creativity can go a long way in making back-to-school budget-friendly and stress-free.

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Money Management | Saving