If there’s a time of year that generates the most expenses, it’s the Back-to-School season. A new school year means extra costs: new school supplies, sneakers, clothes, technological devices, and many other items that add to your regular budget. To ease the stress and financial pressures linked to the Back-to-School season, here are eight tips to help you save money.
If you qualify, take advantage of the Family Allowance payment. The Quebec government provides a small amount of money to help pay for school fees. If you are a beneficiary of this program, you won’t even need to take any steps.
Try to do most of your errands without your children. You can then more easily stick to your list.
Make certain purchases with your children when you have the time. If you are in a hurry, you will not make the best decisions, but if done with enough time, it can be a great opportunity to teach your children how to make smart shopping choices.
Shop in places that sell fewer brand names or where bulk purchasing is available. Smaller designer stores can rapidly add to your bill. Reserve these places for special occasions.
Check to see if your school has a designated supplier for school supplies. There may or may not be a discount, so check first.
Don’t force yourself to buy the exact brands specified by the school. Just buy enough of the right items at the right quality. A red notebook is red notebook, no matter the brand.
If your child gets new technology, make sure you maintain some control over it. For example, limit their ability to purchase apps, games, or add other options without your consent.
In September, start putting aside money for the next year. Look at the total bill for this year’s purchases, add 10% for unforeseen circumstances, and then divide by 12. That’s how much you should be saving each month between now and August.
Now let’s hear from you. What are your Back-to-School saving tips?