For many families, buying school supplies, clothes and other important items for the new school is their single biggest expense when it comes to spending on their children.
According to a recent report, the average amount spent was around $200 per child, for just their school supply lists. This amount does not account for clothing, extra-curricular fees, or tutoring.
There are ways to make the most out of back-to-school budgets. Schools often provide supply lists in June or post them on their websites. That is more time than enough time to watch for sales.
There are many options for stores that will offer Back-to-School specials too. So it is important to take note of their specials and sales.
Many families also save money by taking stock of what their child still has from last year. By reusing as much of last year’s school supplies and clothing as possible, especially items that are still in good condition, not only does that help reduce the strain on the pocketbook, but it is also good for the environment.
Another way to save money is to purchase the essential school supplies right away and then purchasing the remaining school supplies as last year’s pencil crayons, glue, and other supplies are used up.
It is also a good reminder to purchase quality school supplies, that have a longer lasting value when compared to other products. Sometimes, no matter how much a child might want the ‘cool’ lunch kit or pencil case, these promotional products just don’t have the same quality as something that has no promotional materials. Plus, remember that those promotional materials might only be considered ‘cool’ for a couple of months.
Back-to-school shopping can be an excellent time for parents to teach their children the importance of having a budget. One simple way of keeping them involved in the shopping experience is to give them the budget, the shopping list and telling them that this is all the money that will be spent on new clothes and school supplies.
Have the child pick out items, and determine if the supplies they want are truly what they might need. This teaching opportunity can becomes a valuable lesson for the child as they get older. These lessons become very valuable when it comes time to consider college, university or other post-secondary options.
Another budget expense are snacks and lunches for the student during the school hour. Some schools offer a hot lunch option, which parents can purchase for a monthly fee. But in most cases, parents are hitting the grocery stores right after summer to load up on school snacks and lunch supplies once again.
One also has to consider extra-curricular fees that might impact their family, as the return to school also includes registration for dance classes, sports try-outs (school-based and community-based) and fall programs for art and culture.
It is especially important to keep on budget for many families right now. Hopefully these tips and suggestions reduce the stress of back-to-school shopping.
