Back to School 2023
Mandi Viena, MBA, M-AP, IM-A
Strategic Partner in Entrepreneurial Growth & Financial Mastery | M&AP | IM&A | Mental Wellness Coach
If you have kids going back to school this fall, you might be in for a shock when you see the prices of school supplies. According to a recent report, the cost of school supplies has increased by 24% this year, due to supply chain disruptions and inflation. That means you could end up spending hundreds of dollars more than you expected on pencils, notebooks, backpacks and other essentials.
But don't panic! There are some ways you can save money on school supplies and still get everything your kids need for a successful school year. Here are some tips to help you out:
?? Start shopping early. Don't wait until the last minute to buy school supplies, because you might miss out on the best deals and selection. Start looking for sales and discounts as soon as possible, and compare prices online and in stores. You can also use apps like Flipp or ShopSavvy to find the lowest prices on items you need.
?? Use cash or debit cards. Avoid using credit cards to pay for school supplies, because you might end up paying more in interest and fees. If you use cash or debit cards, you can stick to your budget and avoid overspending. You can also use cash-back apps like Rakuten or Ibotta to get some money back on your purchases.
?? Buy in bulk or split costs with other parents. If you have more than one kid going to school, or if you know other parents who need the same items, you can save money by buying in bulk or splitting costs. For example, you can buy a pack of 24 pencils and divide them among four kids, instead of buying four packs of six pencils each. You can also join forces with other parents and shop at warehouse clubs like Costco or Sam's Club, where you can find lower prices on bulk items.
?? Reuse or recycle what you have. Before you go shopping, check what you already have at home that can be reused or recycled. For example, you might have some notebooks that are still half-empty, or some pens that still work fine. You can also repurpose some items that are not specifically for school, like using a tote bag as a backpack, or using a binder clip as a bookmark. You can also get creative and decorate your old supplies with stickers, washi tape, or paint to make them look new and fun.
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?? Ask for help if you need it. If you are struggling to afford school supplies for your kids, don't be ashamed to ask for help. There are many organizations and programs that offer free or low-cost school supplies to families in need. For example, you can check out the Kids In Need Foundation, Operation Homefront, or Salvation Army. You can also reach out to your local school district, community center, or church to see if they have any resources or assistance available.
School supplies are an important part of your kids' education, but they don't have to break the bank. By following these tips, you can save money on school supplies and prepare your kids for a great school year.