Children at school drawing Budgeting

4 Tips for Saving and Preparing for the School Year

Posted on 12 October 2016

The school year is rapidly approaching. With it goes excitement, new things, and …costs.

Preparing for a new year doesn’t have to break the bank. Here are 4 ideas to help prepare and save for the school year.

1. Buy generic school supplies, and buy early

School supplies, notebooks, files, pens, and paper, to name just a few are must-haves. But you don’t have to buy brand names. These are items for which the quality of inexpensive generics brands is indistinguishable from more expensive brands. Stock up on the former and avoid the latter.

Be aware, too, that stores make a lot of money at this time of year from students coming back and needing supplies. If possible, do your school supplies shopping early. You will save on any price increases related to back-to-school and avoid the many people who will be standing in the queue.

2. Buy when you need

Back to school expenses can hit the pocketbook because you are generally buying for the entire year. Expenses for school trips in November. Winter coats and jumpers. However, there is no rule saying you have to do it all at once. Ask when the school fees must be paid. If you can spread the cost out until a month when you are not also buying supplies, do. There’s no need to buy warm clothes until the cold months, either.

3. Refurbish second-hand clothes

Not all clothes have to be new. If your child has older siblings, can clothes they have outgrown be made to fit? If the school requires uniforms, can younger children wear uniforms older siblings have outgrown? Does the school, if there are uniforms, have a list of parents with uniforms their kids have outgrown?

4. Label supplies and clothes

Our last tip is more of a money-saving one, but every little bit helps. Kids lose things. Notebooks, jackets, pencils, even shoes. It really helps to label everything belonging to your children. First, it will help teachers and other children to return them to their owner (a surprising number of lost jackets go in bins.) Second, it will discourage anyone from taking the item.

If you need financial assistance, please contact us to discuss how we can help with expenses.