Back to School on a Budget

Summer is coming to a close, and back to school season is officially upon us.  Along with all the nostalgia and excitement this time of year brings, it can also get expensive – and fast.

“When did Crayola markers raise their prices? HOW much for a spiral notebook? Why do my kids need 12 of everything?!”

Here are some tips to help you stay in your back to school budget, and enjoy the last few weeks of summer.

1. Use the dollar store.

The dollar store is your friend! From notebooks and folders in every color, to pencils and loose paper – you can find 80% of the items your kids will need for the upcoming school year. Let’s all “just say no” to spending $9.99 on a box of crayons.

2. Budget and save in advance.

It’s easy to forget about the annual expenses associated with the back to school season. If you didn’t budget this year, start saving now for next school year. Put aside a little extra in your savings account on a monthly basis, and then use it next summer instead of relying on your credit card and racking up interest.

3. Have your kids save their own money for back to school clothes shopping.

New clothes and shoes are a very exciting (and very expensive) part of back to school shopping. Summer is the perfect time to teach your kids about the importance of saving, budgeting, and managing money. Whether it’s through extra chores, an after school job, or a lemonade stand, there are plenty of opportunities for your kids to earn money toward new clothes and shoes for the coming school year.

4. Buy in bulk and shop sales.

Stores like Costco and Sam’s Club offer great discounts when buying in bulk, and many other stores now offer lower prices when you buy in large quantities. Also, don’t forget to shop sales! It may be old school, but flipping through newspaper ads and store circulars that have coupons, can save you a ton of money when it comes to back to school shopping. Or sign up for emails for the stores you shop at – then use the e-coupons they send you.

5. Use a prepaid card.

Part of what makes back-to-school shopping so fun for kids is the opportunity to pick out items they love on their own. Does your high school or college student have a First Family Student Prepaid Reloadable card from First Financial? Give them easy access to back to school shopping money, and a surefire way to make sure their spending is convenient for you as a parent, secure, and won’t break your budget. Learn more here, and you can easily load your prepaid card right online 24/7 or stop into your nearest First Financial branch – just in time for the new school year.*

*3rd party fees may apply for Debit or ATM transactions. Foreign transaction fees may apply for transactions processed outside of US. A First Financial Visa® Prepaid Card can only be reloaded by a First Financial FCU Checking Account, Debit Card, or Credit Card online. A First Financial membership is required to obtain a Visa® Prepaid Card. A First Financial membership is open to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties, NJ. A $5 deposit in a base savings account is required for credit union membership prior to opening any account/loan. See credit union for details. Other terms/conditions and fees may apply. Federally insured by NCUA.

Article Source: Naomi Anderson for CUInsight.com

 

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