How To Resist Blowing Your Budget on Back-to-School Needs

It’s that time of year again. The stores already have aisles of notebooks, book bags, and pencils just waiting to be picked up by families anticipating the return to school. It can be very easy to blow your family budget when it comes to the needs (and wants) of the younger generation but with a little planning, back-to-school shopping doesn’t have to hurt the wallet.

Here are some tips for keeping more cash in your wallet and still make the kids happy:

Save Up Now
By tucking a few bucks away each week, you can make the expense of returning to school hurt less. $5 bucks stuck in the sock drawer each week can add up to quite a few bucks when you finally have to hit the mall. Remember too that the earlier you start saving, the more cash you have.

Draw the Line for the Older Kids
As early as you can, hold a meeting with the kids and lay things out on the table. Let your kids know you will be purchasing their necessary school supplies but if they want expensive fashions and accessories outside of their basic needs, it will be their responsibility. Provide extra allowance-earning opportunities for them to save up some cash.

Put Your Shopping on Hold
While there is a general excitement in the air before school starts and a rush to stock up on merchandise, it can make a lot of sense (and save a lot of money) if you wait for a few weeks before hitting the stores. After the school rush dies down, many stores will slash their prices considerably to get rid of their inventory. There is also another advantage of waiting. Once the kids have a few weeks of school under their belt, they will know better about what supplies will be needed. Not only can you do a more complete shopping run, you’ll likely get all supplies at a discounted rate.

Go Discount
While not all kids will be pleased with the idea of going to thrift stores, consignment shops, or discounts stores, now is a good time to show kids that they can get a deal and still get what they want. There are so many more options for buying clothing and other items at deeply reduced prices. Some items at secondhand stores still have tags on them so it’s really all about the hunt for a good deal. By arming your kids with frugal know-how, you are not only saving cash you are teaching kids how to survive when times are tight. Allow them to purchase one or two things from a department store but take advantage of the big savings at yard sales and the Internet for their other wants.

Be Realistic
We all want our kids to have the best but by giving everything they want when they want it we are just asking for trouble. Sit down and draw out a reasonable budget for school shopping needs and stick with it regardless of the whining and the begging. By sticking with buying only what you can afford and what the kids need, you are protecting your family’s financial stability. Make a list of needs, identify wants, and commit to buying only what is necessary.