In a recent survey conducted by U.S. News & World Report, three-quarters of Americans with school-age kids say covering back-to-school costs this year will be a challenge. Nearly 12% say they have no idea how they’re going to cover those costs and a significant portion plan to charge at least some of those purchases and carry a credit card balance.
The annual spending spree on backpacks, school supplies and school clothes can put a huge dent in the family budget, and higher prices across the board make it more challenging than ever to stay on budget. Here are some ideas on how to save money on back-to-school shopping despite inflation:
Take Stock
Supply lists often call for scissors, rulers, pencils and other common items. See what you already have at home and what’s still in good shape from the last school year. Explain to kids that repurposing and recycling a portion of the necessary supplies frees up money in the budget to spend on other things. Kids are quick to understand the concept of “reduce, reuse, recycle,” so they shouldn’t have a problem with it.
Stick to the List
Teachers’ supply lists have become more extensive. Sticking to the list and avoiding impulse purchases will help you stay within the budget. Many school districts make their supply lists available to local big box stores and also post them online so you know what to shop for before the first day of school.
Comparison Shop
Dollar stores, big-box retailers, office supply stores and warehouse clubs offer deep discounts on many school essentials. Save money on back-to-school shopping by seeking out the best prices and stocking up on items children use throughout the year. Bring ads with you and ask stores if they will price match.
Use Coupons
Many websites publish coupons on back-to-school clothing and supplies. You might also be able to find your children’s favorite brands on Facebook and Instagram with special coupons available only to followers. And don’t forget money-saving mobile apps for instant savings on the go.
Swap or Shop Second-hand
Clothing and school uniform swaps are a popular choice to stretch the back-to-school budget. Get a few families together, have everyone bring some snacks and spend an afternoon swapping clothes the kids have outgrown. Backpacks are great for swapping, too. Additionally, second-hand shops, eBay, and Depop are good options for finding trendy and brand-name clothing, shoes and accessories at a fraction of the cost.
Shop tax-free
Many states offer tax-free shopping days during back-to-school seasons. Find out if your state is participating, and buy your big-ticket items — like laptops — during the tax holiday.
Make it a Teachable Moment
Kids will feel invested in the back-to-school budgeting process when they actively participate. Let them know the budget for clothing and supplies and allow them to help make buying decisions. Choosing between blowing the back-to-school budget on pricey items or stretching their dollars with sensible purchases will teach a powerful lesson about the value of money.
