8 simple ways to save money while back-to-school shopping

School days are fast approaching, and like many people on a tight budget, it’s essential that we provide for our kids without breaking the bank! The days of genuinely free education are gone. School budgets are now so scarce that teachers regularly reach into their own pockets for classroom essentials and understandably, they need our help too.

In fact, according to the National Retail Federation, parents are expected to spend almost $685 on back-to-school supplies, which means we are supplying more of our children’s classrooms needs than in years past. That’s a lot of money that most of us don’t have just lying around.

When budgets are tight, every dollar counts. In our effort to help you save money and avoid using credit cards, we have compiled a list of 8 simple ways to save money during back-to-school shopping this year.

1. Shop in stages. Instead of buying an entire wardrobe in August, buy one or two outfits and wait until September when prices are often lower than even the best back-to-school sales. Additionally, buying one or two outfits at a time will save you money and reduce waste because kids grow and clothing needs change by the season. Buying in stages will ensure that you buy the right size and style every season of the year.
2. Think dollars, not dimes. Instead of spending your time seeking out the best deal on crayons that might be twenty-five cents cheaper, spend your time finding the best value for big-ticket items. According to the National Retail Federation, the most considerable expense in back to school shopping is clothes (unless you’re in college, then it’s electronics). Fortunately, the internet makes it easy to compare prices these days, so take some time to find the best prices on your most costly expenses.
3. Clean house. No, we don’t mean that you should do your dishes. Unless you are a minimalist, you likely already have school supplies hanging around your house. Maybe you overbought folders last year, or perhaps there is a good paper pad or two lurking in the art bin. Even if you think you don’t have anything, doing a quick sweep of your house might surprise you and yield more than you think. Bonus points if you take the opportunity to declutter and organize while you’re looking!
4. Start the learning early. Give your kids a back-to-school spending limit. Not only will this prevent you from overspending, but it will teach your kids how to budget and understand priorities. Stay firm on the limit and advise them but don’t be too hard on them if they decide to buy the expensive jeans. The lessons will naturally unfold as they realize that they were not able to get as many new clothes, or that they now can’t afford something they want. If they spend unwisely and can’t afford something they must have, make them earn money to buy it themselves because they have already spent their limit. While this may be more work for the parents, it keeps you on budget and teaches your children a valuable life lesson. Hopefully next year (and for the rest of their lives) they will be better prepared to make better decisions.
5. Stick to the list. Making a list of precisely what you need, and not straying from it is a simple and effective way to stay on budget. It reduces impulse buys and if you make a list ahead of time, gives you ample opportunity to compare prices.
6. Share, reuse, recycle. One thing is certain if you have kids, they are growing, and their needs are changing, and that is precisely why shopping at thrift stores, consignment shops, garage sales and through classified ads is such an easy way to save money! All of these avenues of second-hand shopping are a great way to find gently used items for a fraction of the new item price. If shopping second-hand without knowing the source makes you nervous, consider finding (or starting) a community swap. Getting neighbors together physically or online to swap clothes and goods is a great way for everybody to find what they need for free and it eliminates waste. No matter how you slice it, second-hand shopping is a gold mine of saving opportunities.
7. Double the savings. Everybody loves a good sale, and everybody loves a good coupon, so why not strive to use both at the same time?! With a little social media following of your favorite stores and some consistent googling, you can find coupons and sales that align just right to make the perfect savings nirvana.
8. Get it for a dollar. While we don’t recommend you go grocery shopping at your local dollar store, they surprisingly and regularly have great deals on school supplies.

Here at Family Financial Education Foundation, we want to help you work towards a brighter financial future. We hope this edition of Dollars and Sense has helped inspire you to seek value and save money while shopping for your kids this school year.

Remember, if you need help with debt management or improving your credit, we can help. Call 877-789-4172 for a free, no-obligation financial consultation.