Back-to-School Economics
Between supplies, fees and wardrobe additions, the back-to-school season can make a huge and unexpected dent in your budget. Do your homework and follow these rules to keep back-to-school expenses to a minimum.
- Stick to the list. Most schools send a supply list home or post it at your area stores. Make sure you have the list so you're not buying any unnecessary items.
- Try a treasure hunt at home. Your kids don't need a new ruler, protractor or calculator every year. Before you go shopping, promise your kids a small treat for every item they can find from their previous school year. It's greener to reuse them too.
- Shop the "sales" wisely.These days, back-to-school sales go on for nearly two months, with a few different items on sale each week. Instead of shopping every week (wasting gas and buying too much on impulse), pick a store that you know has good prices and make one trip.
- Buy in bulk. You can split the cost with other families or donate extras to charities that need school supplies. Save your receipts for tax time if you itemize your deductions.
- Shop early for clothes. Most kids go back to school in summer clothes, which go on sale early in the summer. For the best selection, start looking for back-to-school clothes when the kids get out of school. Bear in mind that some tweens and teens may grow a couple of inches over the summer!
- Shop around for healthcare too. Check your local health department for free or low-cost immunizations. If not, combine that trip to the doctor with another visit, such as getting a camp or athletics physical. This is the time of year when opticians have sales on new glasses and contact lenses. Look for two-for-one sales and get yourself some new glasses too. If there’s a dental school in your town, you may be able to get very low cost dental and orthodontic treatment from advanced students. Don't forget to submit any expenses to your pre-tax flexible spending plan.
- College savings. If you have a child going off to college, look into renting textbooks or buying used textbooks. Shop garage sales and resale shops or look into Freecycle.com for furniture and accessories.
Question: How do you save on back-to-school expenses?
