As summer break comes to an end, the thrill of a new school year begins to build. With this excitement comes back-to-school expenses and the stress it can bring for many parents and caregivers. Seeing supply lists get longer and longer and clothes that are now too small can be financially daunting, but don’t let it overwhelm you. Here are a few ways to check off items from school supply lists while also saving money this upcoming academic year.
Keep to your budget
A budget breakdown helps you tell your money where to go, not wonder where it went. Purchasing back-to-school supplies is a periodic expense, one that does not happen consistently throughout the year. Therefore, this may not be a category that lives forever in your budget. Make it a point to add it as a category a few weeks or months before school starts. This will allow you to know you have the money to cover the costs that will certainly add up.
Prioritize and reuse
Before the new school year, make it a goal to go through your child’s wardrobe and school supply collection from last school year. You may find that more clothes and shoes still fit from last year than you originally thought and that your child still has useful supplies from last year’s school box. Reuse what you can while prioritizing and budgeting for more essential expenses ahead.
Stock up early
Retailers hold many of their school supply sales right before the new school year begins. Take advantage of the sales you see early by stocking up on common supplies your student may need in the near future. This may include items that are frequently used like pencils, paper and other supplies that tend to run out.
About the author
Jessica Teszlewicz is a Financial Educator at Tinker Federal Credit Union. Jessica earned her bachelor’s degree in Secondary Education from New Mexico State University, where the fire for education was ignited and fueled an 11-year career in public education. She joined TFCU in 2022. Learn more about TFCU’s Financial Education team here.