Advice
Although inflation is down from an all-time high, people are still pinching their family wallets—especially when it comes to back-to-school shopping.1 Whether you’re buying for one student or several (or even for yourself), you may benefit from the following five back-to-school shopping strategies to help you save money.
Create a Budget and Stick to It
Before you start shopping, establish a spending limit for your back-to-school essentials. While you’re planning, take into account items like clothing, school supplies, and electronics. Having a clear spending limit will help you prioritize your purchases and decide what items you can do without (or buy second-hand).
Shop Sales and Discounts
Keep an eye out for sales, promotions, and discounts from brick-and-mortar and online retailers. Many stores offer major markdowns on items like clothing, backpacks, and school supplies.
You should also look for coupons and promotional codes for additional savings. There are even web plugins like Honey that can search and apply discounts.
Comparison Shop
Take the time to compare prices across different stores to ensure you’re always getting the best deals. And don’t forget to check out discount stores, thrift shops, and online marketplaces for extra savings on clothing, shoes, and other essentials. For high-dollar items, like graphing calculators or college textbooks, buying second-hand can save you a lot of money without affecting quality.
Buy in Bulk or Multipacks
Consider purchasing school supplies in bulk to take advantage of lower prices per unit. You may even be able to split the cost with other parents by arranging to buy supplies at warehouse stores like BJ’s, Sam’s, or Costco. Many common items like notebooks, pens, and pencils are cheaper when bought in larger quantities.
Reuse and Repurpose
Before you buy new items, assess what you already have on hand. Backpacks, lunch boxes, and clothes may still be in good condition from the previous year.
You can encourage your children to get creative with DIY projects to personalize, repair, or refurbish items they already have instead of buying a brand-new wardrobe every fall. Another option is to swap clothes with other parents of similar-aged children. Sometimes, it’s not about having something new, just something new to you.
By implementing these strategies, you can save money without sacrificing quality. What’s more, you’ll teach your children one of the most valuable lessons they can learn in life — to do plenty of research before they make major purchases. For more information on back-to-school shopping strategies to help you save money, contact Brian Van Duyn by calling (574) 271-4249 or send an email to [email protected].
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Footnotes:
1 “Current Inflation Rate: What is it and How is it Calculated?” Moneywise, https://moneywise.com/news/economy/inflation-rate