With students heading back to class soon, many families are starting to shop for back-to-school deals. It seems that every year the cost of supplies goes up, and this year is no exception. But fear not, we have gathered some helpful information to get you started on a budget-friendly, stress-free school shopping spree. Read on for five tips!
1. Repurpose school supplies from last year
Audit what you already have in the house. There’s an undeniable thrill to buying fresh, shiny supplies (especially for that new eraser smell!) but consider reusing pre-owned materials. Often kids will have extra notebooks, pens, crayons, rulers, and more. You don’t need to buy everything at once; it might be smarter to see what your children will need first.
2. Shop sales and compare prices
Sometimes school supplies are on clearance in the summer months. Try digital platforms such as Facebook Marketplace, Craigslist, or OfferUp for supplies. Goodwill, other thrift stores, and even yard sales may also have low-price items.
3. Coordinate a neighborhood supply swap
Contact other families in your neighborhood or surrounding community and plan a supply swap. Gather items that your children no longer use, such as lightly used clothing, binders, books, backpacks, etc. and trade them with other participating families. This can be a great way to get clothes and other useful items that won’t break the bank (especially if your kids are experiencing growth spurts).
4. Consider ‘needs’ vs. 'wants’
A trend we saw last year was a dip in clothing purchases. Parents are getting back to the basics and buying things their kids will really need in the classroom. Sometimes, though, half the fun of going back to school is shopping for new items. Consider taking your kids to the dollar store and giving them a set amount of money to spend on school-related purchases. This way wants are held in check, but the excitement of back-to-school shopping remains intact!
5. Set a budget and stick to it
Set yourself up for success with a plan. You’re taking control when you give your money purpose. The first step is prioritizing what your child will need. Usually, this will include classroom supplies and essentials over tech and clothing. Take your budgeting skills to the next level by exploring our no-cost BALANCE site, where you can speak with a financial counselor who can help you create a targeted spending plan for the school year.
If you are among the many who will be using credit cards to cover school expenses, be mindful of interest rates and rewards that you can earn. Nusenda
offers extra points and cash back when you use our Visa® Credit Cards for your back-to-school purchases. Money back in your pocket is always a good thing!
If you are looking for ways to save for school costs – whether it’s supplies and related expenses or your child’s future college education – opening a
Coverdell Education Savings Account with Nusenda is a worthwhile investment. Your education savings account is tax- and penalty-free, and
anyone can make contributions. You can start earning dividends with as little as $5, and you can contribute up to $2,000 per year, per dependent.
At Nusenda Credit Union, we’re dedicated to improving our members’ financial well-being and supporting them through affordable products, friendly service, community involvement, and financial education. We'd love to find other ways to help you save money. Stop by a branch or
make an appointment to meet with us today!