Back-to-School Savings

According to the National Retail Federation, the average American family will spend $606.40 on school merchandise this year. We wanted to pass along some savings tips for those with school-aged children.

Shop at home. With the supply checklist in hand, check for any items you already have and can reuse.

Stick to your list— and your budget. School supply aisles look like toy departments, engage your children in a conversation about their school budget and their choices. 

Shop late.  It’s the clothes that can really break the budget.  Look for deals on clothing, electronics and shoes typically in mid-September.

Stock up while items are on sale. Think about what your child will need all year: binder paper, composition books, spiral notebooks, pencils, erasers, tissues, hand sanitizer, crayons and markers. Designate a box, shelf or drawer at your house as the keeper of extra school supplies.

Plan for next time.  Consider automatically saving $5-$25 per paycheck in a separate savings account just for clothes and school expenses.  You’ll be more prepared when you have those unexpected school expenses or need those winter boots!  

Comments

[Stephanie]

I don't go to school anymore, but I have friends who's kids do and I am giving them my extra notebooks I've accumulated throughout the year. This will clear the clutter from my house and help their bottom line. Don't forget to ask other people if they have any school supplies they don't want or need anymore...you never know who will give you something useful!