The Back-to-school season is upon us and, if you’re unprepared, you can easily burn your wallet with various expenses. Avoid unnecessary expenses by following these back-to-school savings tips:
Scour your home for school supplies – One reason why back-to-school spending can go out of hand is that many people choose to purchase new products each year. But do you really need to buy everything new? You’ll be surprised at how many school supplies you can find in your own home if you look. For instance, you can let your children use your old company folders, notebooks, pens or pencils for school. Don’t buy new clothes unless your children have outgrown their shoes and clothing.
Be diligent when looking for bargains – Coupon stacking is a great way to save during this time of the year. In addition, you must always be on the lookout for clearance sales near your area. If you spot yard sales, be sure to pay a visit. Dollar stores are also good places to find excellent bargains. When you do find very good deals, remember to purchase for the whole school year to maximize your savings.
Be wise when buying clothing for your kids – If you have to buy new clothes or shoes for your children, purchase larger sizes to allow room for their growth. This will help you avoid having to buy new sets of clothes each year. Also, you don’t always have to purchase brand new items. You can find slightly used clothes (many of which are even branded items) in thrift stores, eBay or Craigslist for excellent bargains.
Be sure to instill money lessons to your children – In many cases, parents overspend because they simply can’t say “No” to their children. When your kids become unreasonable because they claim to need the latest branded apparel, be prepared to draw-the-line. Teach them the difference between needs and wants. Make it clear to them that money doesn’t grow on trees, and that it must be spent wisely, especially when times are bad. A good way to train them is to bring them along when you shop for school supplies. Show them how to compare prices so they can see just how much costs can vary between similar products. Then ask them why they should spend $15 on a product when another similar item is available for just a dollar.
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