This year parents are spending nearly $670 on just one child’s back-to-school necessities, according to the National Retail Federation’s latest survey. Over the past decade, families have expanded this annual budget by more than 40 percent. If you’re trying to break this expensive cycle here are three ways to save money this season.
Evaluate Your Child’s Inventory
Just like you double check your fridge before you go grocery shopping, make sure your little learner knows what they need before they hit the mall. It’s easy to get caught up in the back-to-school bliss, but creating a clear list of what your family needs will save you time and money.
Budget Before You Buy
Don’t wait for the first school bell to ring in order to teach your children something. Get them involved in your purchase planning by mapping out the cost of everything they want to get and showing them how quickly things adds up.
You can even make a game out of your accounting appraisal. First select a must-have item like a new JanSport Backpack, each of you guess how much it will cost, then check who is the closest by comparing prices online. This activity will keep your children engaged while also giving you a better understanding of where you can find the best deals.
Patient Purchases
The first back-to-school offer you see may seem irresistible but remember to shop around before swiping your credit card. During the weeks leading up to the first day of school you may notice retailers rotating between deals. Sometimes finding a steal is as simple as asking a store employee when the item you want will be marked down.
Of course every parent wants their child to enter a new classroom with everything on the “teacher’s suggestion list” but remember these are just suggestions. An educator may ask your student to have three spiral notebooks for the entire school year but if you don’t have to buy several right now you can guarantee there will be new sales on supplies come January.
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