Between supplies, books, clothing, and other back-to-school items, beginning a new school year can be hard on your budget. Although you plan for it, the cost of these school items can add up. Not to mention, each year it seems like schools are offering more programs in their curriculum that require parents to spend more money on supplies. While we want the best for our children, there's no denying that back-to-school costs can get expensive. Below are ways you can keep those costs down.
Set a Budget
According to Deloitte's 2024 Back-to-School survey, parents plan to spend an average of $586 per child on back-to-school items for the upcoming school year, a slight decrease from the previous year. This figure represents the cost for just one student, and parents with multiple students will spend more. If you have a college-age student, the costs can skyrocket even further.
Before you begin your school shopping, review your budget and determine how much you can allocate for back-to-school supplies. Once you've established your budget, make a concerted effort to stick to it.
Take Stock
Go through your home and take inventory of the supplies and clothing you already have that can be reused this school year. While it might seem advantageous to stock up on supplies during back-to-school sales, it's best to wait until the school supply list is released to avoid purchasing unnecessary items or duplicates.
Set Limits
As children advance in grade levels, they may desire the latest trends in name-brand clothing, backpacks, and binders. These items can be unnecessary and detrimental to your budget. Additionally, they may not be durable.
Consider allowing your children to select a couple of trendy items but explain your budgetary constraints. Educate them about the value of money and how some items aren't worth the high price tag. Teach them to assess quality beyond brand logos.
Where to Find Deals
- Track Sales: Monitor advertisements from office-supply stores and major retailers for back-to-school specials, which typically begin a week or two before school starts.
- Shop Discount Retailers: Stores like Ross, TJ Maxx, and Marshalls offer quality items at reasonable prices.
- Compare Prices: Utilize smartphone apps like ShopSavvy or RedLaser to compare prices and find the best deals on desired items.
Other Ways to Save
Additional strategies to save on school items include:
- Download Online Textbooks: Many instructors permit students to use digital textbooks, which are often more affordable than physical copies.
- Visit Dollar Stores: These stores offer essentials like notebooks, pens, pencils, paper, index cards, and rulers at low prices.
- Explore Thrift Stores: Thrift stores often have gently used clothing, backpacks, and sporting goods at discounted prices. They're also excellent for finding supplies for college students living independently.
- Shop After the Rush: Consider waiting until after the back-to-school rush in August or January to take advantage of clearance sales, where items can be marked down significantly. While selections may be limited, it's an opportunity to stock up on supplies for the entire school year.
By implementing these strategies, you can provide your child with the necessary back-to-school items without straining your finances. With careful planning and smart shopping, you can manage expenses effectively and ensure a successful start to the new school year.