Written by: Financial Resource Helper Staff Writer
Who can believe it’s that time of year again? Summer is coming to a close, and kids are headed back to school. Americans everywhere have been getting pinched in the pocketbook as inflation hits forty year highs, and carting around kids to summer activities was more expensive than in previous years due to high gas prices. Sending kids back to school can be stressful in itself, so here are some tips for you to maintain a budget:
Take Stock Of What Your Kids Need
Pencils? Binders? Lunch Box? It helps to take inventory of what your kids already have from last year, and what is going to be needed for the upcoming year. Your child’s school may have informed you about what will be needed when schools starts. Make a thorough list of items that your children need when school starts. After you have your list, double check to insure that these are in fact needed items and not things that you may already have handy, or that your children may be able to do without.
Set a Budget And Stick To It
Determine what you can afford to devote to back to school supplies, and be dutiful about sticking to that budget. One tool many smart shoppers use is online shopping…you can fill your electronic cart with the items that you need, and be sure that you have everything, or most everything you need, without breaking your budget. This allows for less impulse buying than a visit to the store may result in, especially if you have your children in tow. Furthermore, you may be able to save a couple dollars on gas if your purchase qualifies for free shipping.
Shop Wisely
Particularly for back to school supplies, discount and dollar stores can be great places to stock up at low costs for the items that are needed. If your children are in need of apparel or other items, be sure and check out your local Goodwill and even Facebook Marketplace for gently used apparel, backpacks, lunch boxes, and more. If you are active on social media, some neighborhoods and cities also have groups to allow parents to trade and pick up needed items at no cost. Many families have children that outgrow items, or no longer have needs for certain items that may have been used for school, and they recycle these items through social media groups in an effort to help those in their community.
Set a Financial Savings Example For Your Kids
Plan, plan, and plan, and set an example. The back to school shopping season can be a great time to teach your kids about being financially wise. Sharing the concepts of budgeting, planning, price comparison shopping, and more can be lifelong lessons for children. Include your kids in parts of the process, but you do not feel obligated to share some of the minute details (how much you can afford, etc). It’s never too early to begin teaching children about the value of currency, how to find great deals, and concepts such as planning and preparation. These are skills that they can then carry forward into their adult lives, and it can certainly be an opportunity to bring a family together and learn in a process. Happy Savings!
