Shopping for back-to-school expenses can be very tasking on parents’ wallets. Therefore, it is best to use strategic ways to save some money while shopping for school supplies for your children.
This way, you can easily get the best deals at excellent prices and mark off all the items on your shopping list!
Back-To-School Expenses
Children will return to school soon, and parents have to do some serious shopping. This involves spending a good deal of money, as the prices of school supplies, gadgets, clothes, and other important necessities can be a bit overwhelming.
The National Retail Federation estimates that this year’s back-to-school spending is about to hit the second-highest figure on record in the U.S., with $38.8 billion estimated to be spent across the country.
How Much Does an Average Family Spend on Back-To-School Expenses?
The average cost of back-to-school expenses changes with the type of family and the level of their children. Those with children in elementary through high school will spend an estimated $874.68 this season, while those with college students will spend about $1,364.75 on school items.
These fees are quite expensive, so many Americans have been thinking of ways to save money and still get the best items for their children. Here are five ways to do that.
Save Money by Buying in Bulk
One of the most effective ways to save money on non-perishable school items is to buy them in bulk. Things like pens, markers, books, sticky notes, and more are less expensive when bought in bulk.
However, if you only have one child and do not want things to go to waste, all you have to do is find another parent willing to join forces with you. The two of you can share these items equally at a much lower price.
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Buy Refurbished or Second-Hand Items
Another great way to save money is to buy second-hand or refurbished school items. This way, you can save a lot of money and get good items for cheaper prices. Those who want to buy a new device like a laptop can opt to buy a neatly used one, which can help them save some money.
If you’d like to trade in your old device, big supermarket chains like Walmart, Best Buy, and Target can help you save money by giving you a gift card or store credit.
Shop During a Sales Tax Holiday
Shopping during a sales tax holiday is one of the best tips for saving money while shopping for almost anything. A sales tax holiday is a period when a particular state removes the sales tax on a specific category of items.
Tax holidays vary between states and may not always be on the same day. Florida, Nevada, and New Mexico have some upcoming sales tax holidays that back-to-school shoppers will find profitable.
Ask About Student Discounts
Another smart way to save money during your back-to-school shopping is to take advantage of student discounts. Most retailers offer good discounts during this period, and you can save up to 20% or more while shopping! Big stores like Amazon, Nike, Microsoft, and many more also give student-specific discounts for a limited time.
If you shop online, install browser extensions like Rakuten or Honey to help you automatically find and add coupons at checkout.
Stick to Your List
Sticking to your list of essential items is one of the best ways to save money. While shopping, many things can look enticing, and you might be tempted to buy others that are selling for cheap prices.
We advise you not to get carried away by cheapness and only buy the things your child needs. Stick to the list of things you plan to buy, which will guide you while shopping.
A Common Mistake Parents Make While Shopping
One common mistake parents make while doing back-to-school shopping is taking their children with them. Avoid doing this at all costs. Children typically do not understand budgeting and may want items that are much more expensive than they can afford.
Rather than having an unhappy child or a child that will throw tantrums when they don’t get what they want, it is better to leave them at home while shopping on a budget.
How To Save Money for Kids
Saving money for your children is no easy task. In the world we live in now, it is much more expensive than it used to be. Therefore, one needs to employ smart methods to do so.
You can open a children’s savings account or a college fund for their educational needs, open a children’s trust fund account to secure their futures, use premium bonds, piggy banks, and many more secure money-saving options.
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What Is the Smartest Way To Save Money?
Saving money can be difficult, but if you’re smart about it, it can seem easier than it really is. When you want to save money, the first thing to do is create a reasonable budget. This budget would help you set a good savings plan, highlighting how much you need to save daily, monthly, or yearly.
Track your spending, spend reasonably, keep your savings in a secure account, and avoid extravagant spending.
What Is the Secret To Saving Money?
The secret to saving money is to set a good savings goal. This goal and budget will serve as a guide to help you curate a great savings plan. They will also help you remain on track whenever you think about spending lavishly.
With a reasonable and strict savings goal, you can start planning how to achieve this goal and what changes you need to make to your spending habits. Set weekly or monthly targets to help you stay focused along the way.
How Can I Save Money Without Money?
If you have no income at the moment, saving money is going to be a top priority for you. In this case, the best way to save money is to cut back on excessive spending and try to direct that money towards your savings.
Food splurges, dining out, spending on items greatly affected by inflation, and shopping impulsively must stop immediately. While trying to curtail your spending habits, finding a new paying job or position that can help you save money even better would be in your best interest.
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