5 Ways to Save Money on Back-to-School Shopping

Written by adminJuly 29, 2019
Saving

Whether you’re ready for it or not, we are quickly approaching the end of the summer season. As we get close to the start of August, were only weeks away from many schools across the country ringing the bell and ushering students back into their halls. That makes right now back-to-school season as we begin to see many ads start popping up on our TV and Internet.

Many families have a difficult time facing back-to-school expenditures. This time of year is second only to Christmas in terms of major family needs and buys. The National Retail Federal is estimated that parents will spend on average around $696 per child going back to school. If your child is enrolled in sports, that number can easily push past the $1,000 mark and even broach $2,000.

Just like the cost of college tuition, back-to-school costs are constantly inflating. School supplies and clothing continues to get more expensive. After a nice relaxing summer, the last thing parents want to do is be barrage with the number of ads telling them that summer is about over. They began sweating over the amount of money they know they have to fork out.

To make matters worse, a lot of teachers are beginning to ask students to take on larger needs. Their budgets are small and schools are running out of money, so they rely on parents to supply various items, making the cost of back-to-school shopping that much more expensive. Let’s take a look at five ways that you can save money on back-to-school shopping.

1) Look Around the House

You can save money by doing a simple supply sweep around your home. You might have a pack of folders or notebooks hidden in a desk drawer somewhere. Maybe you have a storage bin full of hidden treasures that will help you from spending money on things you already have. This is also a great time to go through your child’s clothing. See what close they have and what they’ve outgrown over the summer. As much as they want brand-new name brand stuff, there’s no point supplying them a brand-new wardrobe just because it’s the start of a new year.

2) Do a Supply Swap with Family and Friends

If you’ve taken the time to pull out all the extras that you have around the house, maybe get together with family and friends who also have kids going back to school. Even if they don’t have kids, they might have extra reams of paper or a box of pencils or stack of notebooks that they’re not using. You might have something extra that they need and it will be worth the swap to save you both money in the long run.

3) Thrift Stores and Garage Sales Will Save You

You never know what you’ll find that a thrift store or garage sale. These places can hold all kinds of treasures and back-to-school supplies. You might find new clothing, backpacks, or other supplies that you’ll need. Your child might not want gently used stuff, but that’s because they have no concept of a budget and they’ll have to live with what they get. No one has to know that what they’re wearing for the supplies they’re using was bought at a thrift store or garage sale.

4) Go to the Dollar Store

Dollar stores often have amazing deals on things you need. It is not just a place for party supplies and cheap stuff anymore. You can get notebooks, pencils, Kleenex, sanitizers, pens, and so much more at a dollar store for much cheaper than you’d find in a department store.

5) Tax Holidays Are a Thing

You may not know about this, but many states have what are called tax holidays. Tax holidays are allowed so that shoppers can buy things without having to pay an enormous sales tax on top of it. You should do your research and find out when your state holds the tax holiday. Many states have one of the first week of August or maybe the last week in July. These tax holidays help shoppers for the back-to-school season. This is when you should make your larger purchases, like if you need to buy a computer.

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How to Survive Back-to-School Season with Your Budget Intact

Written by adminJuly 24, 2018
Life Style

It’s that time again. While most parents are secretly (or not so secretly) cheering the end of summer and return of the school season, they also hate it.

According to a survey from eBates, 75% of U.S. parents hate back-to-school shopping season, and just as many teens believe the same. It’s not just the end of summer, though, that causes frustration. It’s the tension between parents and teens that make shopping unbearable.

Teens say their parents tend to wait until the very last minute to get any school shopping done and wish they’d start taking it more seriously. But parents, on the other hand, don’t like that their kids only want name brand clothes and items, which is stuff they usually can’t afford. This is especially true for families with multiple kids going back at the same time.

There’s a lot of peer pressure on teens to only get the latest, greatest fashions, leaving parents to figure out how to appease them while not destroying their budget. It’s not as if parents don’t want to buy their kids the best stuff…they just can’t afford it.

It’s quite easy for parents to give in, as emotions are often put before practical uses of money. Every holiday season, millions of people go into debt to appease family and friends. And more often than not, parents give in and buy their teens the greatest, most expensive clothes and supplies to the detriment of their budget.

Some of what they buy isn’t even practical, but because their kids demanded it, it found its way into the cart. In fact, parents spent over $70 billion last year for back-to-school.

Since it’s mostly teenagers who demand the more expensive items on their list, it leaves us wondering if parents are missing out on a grand opportunity to teach kids about budgeting and the value of money.

In short: if they want the latest and great stuff, why not have them buy it themselves? If you give your children an allowance, tell them you’re only going to spend “X” amount of money for clothes and supplies, so if they want more than that, they need to save and chip in.

Or, if they’re older, a few summer jobs can be used for more than just extra spending money. You can teach your kids how to save some of what they earn to take care of their own needs. Once they realize how expensive their choice of style is, it might bring down some of the tension this time of year.

Of course, it might not, but at least they’ll learn about money, and that’s more important. They’re soon realize that if they want the best of the best, they’ll have to pay for it and it will motivate them to do so.

Another idea is to itemize each ‘category’ and shop online beforehand. They’ll need new clothes, gadgets, school supplies, shoes, and other stuff, so write it all down. Maybe sit down with your teen and plan out everything you want to buy, with the cost, within the budget you set.

And whatever happens, don’t give in. Keeping your budget intact is more important than adding to your debt just to ensure your kid is fashionable going into the new school year.

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