Back-to-School Money Savings Tips
Back-to-school can be an expensive time for parents, especially if you have more than one child. Between tuition, books, clothing, and other academic supplies, costs add up quickly. Fortunately, there are ways to save money while still stocking up on all the school essentials. From finding the best deals to reusing certain items, these tips can help you stay within budget while preparing your kids for the new school year.
Setting a Back-to-School Budget
Creating a back-to-school budget will help you avoid overspending and ease the strain on your wallet.
Start by calculating how much money you have available for school-related expenses and be sure to factor in any extra income or savings that you may have set aside for this purpose. Next, make a list of all the items you’ll need to purchase – including textbooks, stationery, uniforms, sports gear, and backpacks. With a clear understanding of what’s needed, you can allocate funds accordingly.
Take the opportunity to involve your children in the budgeting process. By including them in the discussion, you will be teaching them the value of a dollar and help them distinguish between items that are necessary and those that are optional.
Shopping Strategies for School Supplies
One of the bigger expenses in the world of back-to-school shopping is school supplies. From pens and pencils to notebooks and binders, the combined cost of a great many small items can be just as shocking. But don't worry, there are ways to shop for school supplies on a budget without compromising any classroom needs.
- Start with a list - Before heading to the store, make a list of the supplies you plan to purchase. This will help restrict any impulse buys that threaten the pre-set budget.
- Shop early - Many stores start offering back-to-school deals as early as July. Take advantage of these sales and shop early to avoid crowds and higher prices.
- Compare prices -Don't stick to one store. Compare prices at different retailers to find the best deals for items on your list. You can also check online for discounts and free shipping options that may be available.
- Buy in bulk - Buying in bulk is another great way to save money in the long run. Consider purchasing larger quantities of items like pencils and pens that you anticipate needing throughout the year.
Money Savers for Clothing and Uniforms
Clothing and uniforms are another necessary expense of the back-to-school season. However, providing your child with the perfect first-day outfit doesn’t need to exhaust your funds. Let’s take a look at a few tips to help stretch your money when it comes to dressing smart.
- Take inventory - Double-check your student’s wardrobe for what fits and what doesn’t and make a list of only the items needed. This trick does a great job of preventing any duplicate or unnecessary purchases.
- Shop off-season - Consider buying clothing and uniforms off-season to take advantage of clearance sales. Retailers often have sales at the end of summer when trying to clear their season’s stock. This is a great opportunity to get huge discounts on clothing items that your child will need later that school year.
- Buy in bulk - Much like traditional school supplies, buying in bulk can be a great money saver especially if your school requires uniforms. You can get discounts for purchasing several uniforms at once.
- Look for second-hand options - Thrift stores, consignment shops, and online marketplaces are great places to find affordable clothing and uniforms. Often, these items are only gently used, with a full life still to give. Just make sure to thoroughly review the garment before purchasing it to avoid any unwanted surprises.
Back-to-School the Smart Way
A back-to-school budget can be a lifesaver when preparing for another successful school year. Whether your child wants a new wardrobe or the best school supplies out there, F&M Bank’s money-saving tips will help you stick to your budget and enjoy continued financial stability.
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