It’s that time of year! Kids are heading back to school, and parents are preparing to spend record amounts of money on school supplies. My goal is to help you save money on back-to-school supplies so that the extra monies can be allocated to Financial Freedom.
According to the National Retail Federation, families will spend about $696.70 on back-to-school expenses and $976.78 on back-to-college expenses. That’s a combined total of $80.7 Billion spent nationwide.
As a parent of two, I can relate. It has taken years for me to curate a back-to-school plan that works for the kids and the budget. I used to get the kids everything, even things that the teacher had not asked for. I wanted to be prepared and I wanted my children to feel the same.
What I didn’t plan on was the chaos that overabundance causes. My kids didn’t need two pairs of shoes, and a new backpack or lunch box each year. However, this is what our mom did so I did the same (minus the two pairs of shoes).
Now we only replace what’s worn out and what’s necessary. My kid’s teachers usually have everything all ready for the kids when they come to school. This is such a blessing and I know that it isnt’t the case for everyone.
So how can you cut some of these costs? I have a few tips for you.
1. Create a Budget
Set boundaries by creating a budget and ensuring line items for clothing, supplies, and school activities. Include your child, if applicable, in making the budget and be realistic. Mapping out how you will spend your money in advance creates a plan for you and your child.
2. Inventory Your Stuff
Before school shopping starts, inventory your child’s things. Start by going through clothing and shoes to see what they have outgrown and what needs to be donated. Next, well-fitting items in good shape should be laid aside and photographed. Then, when you are out shopping, buy separates that will create entire outfits.
Consider creating a capsule wardrobe with a few essential pieces that can create multiple outfits. Or simply where what you have. Most clothing can be mended and altered and re-worn the following school year.
Don’t forget to do the same with school supplies. We have accumulated tons of free pencils and glue sticks over the years. I make it a point to not buy pencils. We just have too much. Inventory your school supplies before you buy more so that you do not have an overabundance of supplies.
If you do, consider donating some to organizations needing supplies that season.
3. Buy Quality Items
Let’s face it, children can be rough on clothing. However, making quality purchases at the beginning of the school year can help you save money throughout the school year.
Children tend to outgrow things quickly, so consider putting together a midyear clothing swap between parents.
Set a couple of guidelines and invite parents over to swap clothing. It will be an excellent way to save money and connect with other parents.
4. Shop Sales
Around mid-July, stores begin having sales on school items. You can get crayons and paper as low as 10 cents apiece. This is the time to start looking for sales. Some of my favorite places to find deals like this are Staples, Office Depot, and Target.
5. Shop Second Hand
Often you can find gently used or brand new clothing in second-hand stores and even on second-hand online sites. This is one of my favorite ways to save money on back to school supplies. There are so many new and like-new items available for our children.
This teaches our kids to involve themselves in a circular economy and save items that good have gone to the landfill.
In addition, target and other retailers often liquidate their unsold end-of-the-season items to Goodwill.
These are brand new items at a fraction of the cost. If you don’t mind frequenting second-hand shops and treasure hunting, you will come out with great deals here.
6. Keep activities to a minimum
Let’s just say it. Sports and other after-school activities can be some of the most time-consuming and expensive items in your back-to-school budget.
First, ask your children what they enjoy most and pick that one thing to pursue. Then, consider the costs of that sport or activity, including uniforms, travel, and competitions.
Joining activities through the school can be much cheaper than paying for private organizations.
7. Take Advantage of Tax-Free Weekend
Some states have a tax-free weekend, usually in August, where you can buy most school-related items tax-free. This includes but is not limited to clothing, shoes, and certain electronics.
8. Pack Their Lunch
Lunch prices seem reasonable, but at $2.50 a day over 20 days, those meals can add up to $50 a month per child. So invest in decent lunch boxes and send them to school with healthy homemade options.
9. Cut Back on Gas
Driving and picking up your children can lead to a hefty gas bill. Some school districts even charge for busing your children to school. If you are close enough to the school, try walking to school or carpooling with a neighbor.
10. Shop out of season
I saved this tip for last because it is by far my favorite one. Shop out of season. I tend to buy most things a year in advance. I don’t feel bad about it. From sized-up clothing and shoes for the kids to glue sticks, pencils, and notebooks, buying these after the kids start back to school can help you save lots of money.
I have found $5 backpacks, half-priced sneakers and clothing, and heavily discounted school supplies.
Bonus*
Ask your child’s teacher what supplies are needed immediately and which supplies won’t be needed until much later. This falls in with tip 7. Waiting until mid-September to pick up kleenex and Lysol wipes keeps your back-to-school expenses low.
I have used every single one of these tips to ensure that we keep back-to-school costs to a minimum. With all the money you will save, you can begin to plan for Christmas. What tips do you have to save money on back-to-school supplies?
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