5 Tips for Budgeting Back-to-School Expenses
For many of us, August means the end of summer is upon us and it’s back-to-school season. This often involves purchasing a whole new set of school supplies and paying education fees for the coming year. Here we’ve pulled together the top five tips for working those new school supplies into your budget.
- Start now by skimming back-to-school deals advertised in stores, on their websites, in their weekly ads and featured on their mobile apps. Monitor for special store coupons, online-only sales, bulk order discounts and more.
- Get creative. Who ever said school supplies and back-to-school clothes had to be brand new? Consider swapping supplies and clothing with other parents or skimming through the shelves at thrift shops and secondhand stores. With a little bit of creativity, you can save money during back-to-school season.
- Shop online wisely. Shopping online can seem like the best deal around because of the discounted prices you see. Be careful while shopping online for back-to-school necessities because online shopping can sometimes feel like a good deal, but that’s not always the case.
- Learn from the experience. Make back-to-school time a tradition of saving money and finding the best deals. Get the kids involved for a fun family learning experience about saving money and budgeting. Your children can help you decide what to do with the extra money saved on school supplies while learning the value of money in the process.
- Plan ahead for next year. At the end of back-to-school season, watch for deals and end-of-season sales. By planning ahead for next year, you will save money in the long run on necessary school supplies.
Lincoln Savings Bank, Member FDIC.
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