Back-to-School Shopping Expenses Surge: Expert Tips to Save
As the start of the new school year approaches, parents across the nation are gearing up for the annual back-to-school shopping spree, but this year, families are facing higher expenses compared to previous years.
According to a recent survey by RetailMeNot, the average American household is projected to spend $1,498 on back-to-school supplies, electronics, and clothes, an increase of $251 from last year’s spending average.
The surge in back-to-school expenses can be partly attributed to inflation, which has impacted the prices of various goods and services.
Jessica Allen, community director at Living Well Spending Less, compared the shopping experience to Christmas and emphasized the need for careful budgeting and planning to avoid overspending.
It adds up so fast, she said. It’s kind of like Christmas. We’re buying 100 different things from 100 different vendors, and it’s so easy to lose track.
To help parents navigate the back-to-school shopping season while saving some cash, Allen offered five expert tips:
1. Take Inventory: Begin by assessing what school supplies and clothing items are already available at home. Create a wishlist of essential items that need to be purchased and prioritize based on immediate needs.
2. Set a Budget: Involve your kids in the shopping process by giving them a set amount of money to manage. This not only teaches them the importance of budgeting but also allows them to interact with service staff during the shopping experience.
3. Buy in Bulk and Share: Consider purchasing certain items in bulk and split the costs with other parents, neighbors, or friends. This cooperative approach can lead to significant savings and reduce individual expenses.
4. Extend Electronics Lifespan: Instead of splurging on new electronics, explore options for swapping or passing down devices. Graduated seniors may have graphing calculators or other gadgets that are no longer needed, presenting an opportunity to save money.
5. Wait for the Right Time: Avoid the shopping rush by waiting until your children start their classes and receive specific requirements from their teachers. This way, you can make more informed and targeted purchases.
Miami-Dade students are set to return to school on Thursday, August 17, while Broward students will begin their new academic year on Monday, August 21.
As families gear up for the school year, these money-saving tips can serve as a helpful guide to ensure a smooth transition back to the classroom without breaking the bank.
The surge in back-to-school shopping expenses has left many families searching for ways to save on their purchases. With the average American household projected to spend $1,498 this year, it is crucial to find cost-effective strategies to manage the expenses.
One expert, Jessica Allen, community director at Living Well Spending Less, compared the back-to-school shopping experience to Christmas and emphasized the importance of careful budgeting and planning to avoid overspending. She highlighted the ease with which expenses can add up when buying multiple items from various vendors.
To assist parents in navigating the back-to-school shopping season while saving money, Allen shared five expert tips. First, she suggested taking inventory of existing school supplies and clothing items at home. By creating a wishlist and prioritizing essential items, parents can focus on what is truly needed.
Additionally, involving children in the shopping process can teach them about budgeting. By giving kids a set amount of money to manage, they can learn valuable financial skills while interacting with service staff during the shopping experience.
Buying certain items in bulk and sharing the costs with other parents, neighbors, or friends is another cost-saving technique recommended by Allen. This cooperative approach can lead to significant savings and reduce individual expenses.
Instead of splurging on new electronics, Allen advised exploring options for swapping or passing down devices. Graduated seniors may have graphing calculators or other gadgets that are no longer needed, providing an opportunity to save money.
Lastly, Allen advised waiting until children start their classes and receive specific requirements from their teachers. By doing so, parents can make more informed and targeted purchases, avoiding the shopping rush.
As families prepare for the upcoming school year, implementing these expert tips can help ensure a smooth transition back to the classroom without breaking the bank.
In conclusion, with back-to-school shopping expenses on the rise, it is crucial for parents to find effective ways to save. By following expert tips and adopting smart strategies, such as taking inventory, setting a budget, buying in bulk, extending the lifespan of electronics, and waiting for the right time to shop, families can navigate the shopping season with financial success. By being proactive and mindful of their spending, parents can ensure a smooth transition for their children as they head back to school.
