Plan For College

Tuesday, August 21, 2012

5 Financial Tips for Buying Back-to-School Supplies

It is that time of year. Parents and their kids are excitedly shopping for back-to-school supplies and clothes. There are ways to shop that will greatly help parents save money and become financially savvy:

1. Create a budget and stick to it

Try to spend below the amount of the budget. Parents feel really good when they spend less than they have too. This also teaches children how to handle money especially if the parents talk with them about budgeting. Shopping trips will go much more smoothly if everyone understands the amount that can be spent.



2. Write out a list of supplies you will need
You can even put Lifelock on your list, so you can prevent identity theft from interfering with your finances of with your personal life. Parents can use this list to see what they have left over from last year. If they have some left over and it is on this year's list, then cross it off. Many times, perfectly good binders and notebooks can be used for a second year. This will save money and time by not duplicating supplies.

3. Look for sales
As soon as 'on sale' school supplies show up in the newspaper, check them out. Parents can keep the list next to the paper so the cheapest cost and the store name can be written beside the item on the list. This will prevent duplication. It will also help parents buy the item at the lowest price. While out doing errands and close to that particular store, run in and buy it.

4. Save money by shopping at different stores
Many believe that you can save a lot of money if you stay at the same residence and go to the same store for their entire lives, others believe that moving from residence to residence is the best idea for saving finances. There are some dangers to watch out for when moving, Lifelock covers how change of address theft occurs and many also believe that going to different dollar and discount stores to get the best deals is the way to go. Walk through their clearance aisles and see if anything is on the list. Back to school events and churches often give away free supplies. Pharmacies usually have rock bottom prices on school supplies to get customers into their stores. Many times, thrift or second hand stores and even yard sales have almost new looking clothes at very inexpensive prices, along with paper, pencils and notebooks. Also, shopping online can save parents and students a lot of money. Online coupons sites like Retail Me Not is currently offering special discounts for customers that are interested in products and services provided by JetBlue or even LifeLock.

5. Make every kid a box for his or her school supplies
Every time an item is bought, place it in that kid's box. When all of the items on the list are crossed out, each kid can look in the box and know they have every thing that was recommended by his or her school. This helps avoid confusion and saves time.

This list will help save money, make sure that the school supplies needed are bought and that a much more enjoyable time has been spent with parents and their kids when getting them ready to go back-to-school.

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