Yes, believe it or not, it’s that time again. No, we’re not talking about heading off on vacation, or even sending your kids to summer camp. It’s time to take a serious look at ways you can save on back to school shopping to make sure your children are prepared to learn, but to also make sure you don’t break the bank.
In 2010, the National Retail Federation (NRF) estimated that the average American family would spend more than $600 on back to school supplies.1 In 2017, that number has increased and it’s important to take stock in exactly what you should be doing so that you don’t see your bill quickly add up.
Let’s take a look at a few ways you can get an A+ in back to school shopping.
1. Take stock of what you already have: You probably already have many of the items that your kids may need when going back to school. Do a quick sweep of your house and collect items such as writing utensils, notebooks, binders, calculators, art supplies, and Post-It Notes.
2. Hit the garage sale market: Garage and yard sales are a great place to find that perfect vase for your living room, but they are also a spot to find school items, especially for younger students, that may be brand new.
3. Set limits with your children and explain budgets to them: Back to school shopping is a perfect time to explain to your children the value of a budget and why they don’t necessarily need the top of the line item in every category.
4. Buy in bulk: If you’re already planning for the school year, why not plan for the WHOLE school year? You can probably come up with a decent estimate of how many notebooks or pencils your budding student may need throughout the year. Buy them all at once and save.
5. Communicate with other parents: You’re definitely not alone in back to school shopping frustration or questions. Take the time to talk to other parents that you know, or even through an online group, to get an idea of what they are shopping for and what tips they may have for you.
Back to school time can be stressful for both parents and their children, but with a little planning and use of resources, you can watch your budget while still making sure your student is prepared for the year.
Do you have more questions? Please contact Steel Valley Investment Group of Raymond James.