Get Smarter With Back-to-School Shopping

Back-to-school shopping can put a strain on any budget. Even with the best intentions, the costs of supplies, clothes, and tech gear can add up quickly. Whether you're shopping for one student or several, having a plan in place can help you stay on track and avoid overspending. Before heading to the store or clicking “add to cart,” consider these tips to make your back-to-school shopping smarter and more manageable.

1. Make time to do some research.
   A quick online search can turn up deals like a 45-piece school supply kit - including folders, notebooks, pencils, pens, and more - for under $20. Instead of grabbing whatever is on the shelf, take time to compare prices and look for sales. Online marketplaces like Facebook Marketplace can also be a great source for affordable school supplies, especially when shopping on a budget.


2. Be practical when it comes to back-to-school clothes.
   Summer is the perfect time to go through your child’s wardrobe and discard or donate any items that can no longer be worn or can’t be passed down to a younger sibling. Take inventory of what you already have and what you need. It might not be a long list — you don’t have to buy an entire wardrobe. Your children will keep growing, so plan to spread these purchases over the school year to avoid the expense of buying a closet full of clothing that might be unwearable in a few months.
   
   You can also consider shopping at clothing consignment stores and used-clothing sites like Poshmark. You can find new and nearly new clothing in all the popular clothing lines for a fraction of the price. Shop these first, and save the malls and department stores for the rest. But buyer beware — at sites like Poshmark, all sales are final.


3. Take advantage of tax-free weekends.
   Sales tax can add up quickly, and it makes perfect sense to plan your back-to-school shopping around these weekends to take advantage of significant savings. Many states have tax-free weekends in August before school starts. Read about your state’s tax-free regulations to see what purchases are included and at what prices.


4. Save expensive items for holidays and birthday gifts.
   It’s normal for your children to want the latest sneakers, designer jeans or trendy backpacks. If these items fall outside of your back-to-school budget, give your children the option of putting these on their birthday or holiday wish list. Your child will get something that they really want, and you’ll make Grandma and Grandpa’s job much easier.


5. Teach your older children the value of a dollar!
   It is always easier to spend someone else’s money. If your kids are older, consider letting them do their own shopping. Drop them off at their favorite store with a universal gift card preloaded with your child’s budget and a list of needed items. Allow your children to make difficult choices when it comes to limited resources and unlimited options. If they are old enough to have a job, make buying some items their financial responsibility. Your child will either impress you with their creativity or you will have to make some exchanges, but either way, it’s a learning experience.

The expense of back-to-school shopping isn’t something you have to dread each year if you make a plan and follow it. If you need help, consider working with a CFP® professional who can help you plan with confidence. Find your CFP® professional today.