Hard to believe, but summer is nearly in the rearview and back-to-school season has arrived.
It’s an exciting time for students, who are itching to put their best foot forward, often with the latest styles and newest tech. To help avoid overspending, check out these eight frugal hacks for keeping your budget intact (and your student eager for the new year).
- Start early (or late). There are two schools of thought when it comes to back-to-school shopping. One is to start early to take advantage of sales and avoid the last-minute rush when prices may be higher. The other is to wait a month or two after school starts when demand begins to taper off.
- Create a budget. By setting a realistic budget and sticking to it, you can avoid impulse purchases and stay within your financial limits. Start with a list of essential items and set a target amount for each category.
- Take stock of what you have. Check out the supplies and clothes you already have at home. Why buy more of what you already own?
- Use price comparison tools. Go online to find the best deals for your back-to-school shopping. A price-comparison website or app, like Camelcamelcamel and ShopSavvy, will compare prices across different retailers to find you the best deal.
- Take advantage of student discounts. Many retailers offer student discounts on items like clothing and electronics. Visit your favorite retailers’ websites to see what they offer before completing a purchase.
- Consider secondhand options. Thrift stores, consignment shops, and online marketplaces, like eBay and Facebook Marketplace, can be treasure troves for gently used (or overstock) clothing, backpacks, and other supplies.
- Jump on cashback and rewards programs. Consider using credit cards that offer rewards on purchases. As long as you can pay off the credit card bill in full soon after, it’s a great way to get a little extra back.
- Buy in bulk. You’ll always need notebooks, pens, and paper in school, so buying in bulk can be cost-effective. Discounts can be had on bulk purchases at warehouse stores and office supply retailers. You can save even more by teaming up with other parents and splitting the costs.
Back-to-school season doesn’t have to break the bank. With these few tips, you can get through the season with your budget (and student’s excitement) intact.
