Back to School Budgeting Tips for Your Family
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The back-to-school season can be an exciting time filled with new opportunities and fresh starts, but it can also bring financial stress for many families. Between school supplies, clothes, technology, and extracurricular fees, the costs can add up quickly. The good news? With a little planning, you can manage back-to-school costs without breaking the bank. We’re here with some smart and practical budgeting tips to help your family stay on track this school year.
Start With a Spending Plan
Before you make any purchases, create a back-to-school budget. Be sure to list all possible expenses including school supplies, clothing, shoes, backpacks, electronics, sports gear, lunchboxes, and even transportation costs.
To create your budget:
- Review last year’s expenses as a reference
- Separate your list into “needs” and “wants”
- Allocate a dollar amount to every category
- Factor in extra money for unexpected costs
Once you’ve set your budget, commit to sticking with it. A clear plan will help you avoid impulse purchases and stay focused on your priorities. If you’d like more assistance with creating a budget, read our blog.
Take Inventory at Home
Before starting your back-to-school shopping, double-check to see if you already have some of the items needed around your house. You may already have more supplies than you think.
Check for items such as:
- Notebooks and folders with blank pages
- Unused pens, pencils, and highlighters
- Rulers, scissors, and calculators
- Lunch boxes and reusable water bottles
- Clothing and shoes that still fit or can be passed down
Taking inventory helps eliminate duplicate purchases and lets you spend money only on what’s truly needed.
Shop With a List
Retailers can be great at tempting you with flashy displays and “limited-time” sales. But going to the store without a list is a fast way to overspend.
Create a detailed shopping list based on your child’s school requirements and your home inventory. Bring it with you – or keep it on your phone – and stick to it!
Many schools publish class-specific supply lists online. It can be helpful to print those lists and use them as your guide.
Use Coupons, Cashback, and Rewards
A little digital savvy can go a long way. By combining sales with coupons and cashback offers, you can stretch your back-to-school budget even further.
- Use store apps to unlock exclusive discounts.
- Download browser extensions like Honey or Rakuten for automatic coupon searches and cashback.
- Sign up for email alerts from your favorite stores for first-time buyer coupons and flash sales.
- Apply for our Visa® Platinum Rewards Credit Card to start earning points on eligible purchases that you can redeem for cashback, travel rewards, and much more.
Stacking savings is a smart way to lower your total cost without sacrificing quality.
Consider Secondhand Technology
If your child needs a tablet, laptop, or calculator, buying new can get expensive fast. Don’t overlook certified refurbished electronics or pre-owned devices in good condition.
Be sure to check places like:
- Local electronics stores with a refurbished section
- Manufacturer outlets (Apple, Dell, Lenovo, etc.)
- Online marketplaces such as eBay or Back Market
- Community bulletin boards and buy/sell groups
To be on the safe side, make sure the item comes with a return policy or warranty.
Talk About Money with Your Kids
Back-to-school budgeting is also a teachable moment. Involve your kids in the process to help them understand the value of money, comparison shopping, and making financial choices.
Let them help:
- Compare prices at different stores or online
- Decide what’s worth splurging on vs. saving on
- Track the budget together and celebrate staying within it
When your kids understand how money works, they’re more likely to make thoughtful decisions – not just during back-to-school, but throughout life.
Read more about essential money lessons every child should know.
The Bottom Line
Back-to-school season doesn’t have to be a financial burden. With a solid plan, some smart shopping strategies, and a focus on needs over wants, you can help your family start the school year with confidence – and without overspending.
At the end of the day, your time and support are the most valuable back-to-school tools your kids will ever have. So, plan ahead, stick to your budget, and enjoy this exciting time of year with your family.
Read our other blog articles to help you gain the financial knowledge you need to succeed.