It’s that time of year again for your children to say goodbye to summer camp and hello to the start of a brand new school year!
School supplies can get expensive, especially if your child has decided she wants a fresh, new wardrobe and the latest digital gadget.
Below is a list of steps to take to ensure you won’t have to tap into your savings just to make sure this school year is a successful one.
You would be surprised at the number of items you can find in your kitchen’s infamous junk drawer. Skim your child’s supply list and see what you can grab around the house before heading to the store.
If you or your children like to craft, find some DIY tutorials and make some of your supplies at home. It’ll be a fun back-to-school project to keep your kids occupied, and no one at school will have their same design! Check out this list from DIY Life for fun and creative DIY supply ideas.
A number of states offer tax-free weekends where parents can buy clothes and supplies at a cheaper price. Check out when your state is scheduled to have a tax-free holiday and plan accordingly. Not on the list? If the distance makes sense, take a trip across state lines to one of these tax-free states!
Shop around and use your smartphone to compare prices
Instead of buying everything at the same location, browse your local newspaper to see what specials each store is offering. You can also use your smartphone to compare prices. Here is an article from MSN Money showcasing the top price comparison apps.
A few sites were specifically designed for families on a budget. Two of them, Swap and Swapmamas, are a place where users can trade items without monetary payment. How awesome is that?! You can turn baby toys from 3 years ago, blouses that have been long forgotten, and gardening tools you no longer have a use for into backpacks, calculators, and children’s clothing.
If it is within your budget, set up some extra chores, and reward your kids for completing them with money they can use for supplies. Allow each child to use their hard-earned money to splurge on one item they have had their eyes on.
Although your children will probably want to get every item on their list by day one, it’s not necessary. Send them to school with the items they will most definitely need on the first day and wait a few days or weeks if possible to purchase the others. After school has begun, prices on supplies can drop by 50% or more! You can also use this time to stock up on items for next year if you find bargains you just cannot resist.
At the end of every school year, collect reusable supplies (backpacks, notepads with a lot of paper left, pens, pencil cases, etc.) and store them in a specific place of the house — maybe a plastic storage crate you can slide under one of your kids’ beds. They won’t get lost and you will save tons of money in the long run. A great way to build your home store is to reward your children for taking care of their belongings throughout the year so these items can last longer. Maybe create a competition to see who can keep a backpack for the longest number of years.
Have any other tips for starting off the school year with a happy wallet? Share with us on Facebook or Twitter.