Industry Views & NewsBlogs

It's that time of year again and retailers are busy trying to encourage you to spend money with them!

As exciting as it may be, this can be a stressful time for parents trying to budget for all the necessary school supplies that come with it. Fear not, with some helpful planning tips and strategies you can keep managing these costs without breaking the bank. Here are some tips, tools and reminders to make the transition less stressful:

1. Make a list of what you really need and stick to it. Don’t get wooed into buying more than what you need. Remember the cliché – needs versus wants! Involve your children with creating the list of the supplies they will need. A list will help you stay focused and prevent impulse purchases.
2. If your children want the fancy stuff, discuss the cost with them. Involve them in what to sacrifice to make room for that. That will help children come to appreciate that there’s only so much money and careful planning is essential.
3. Involve your extended family in helping. They often like to buy fun things for the nieces / nephews / grandchildren and they may have some hand-me-downs.
4. Consult with your children’s school for options. Some, when asked, offer suggestions for cheaper places, bulk purchasing, and even taking the funds for supplies and getting them for the class. It never hurts to ask. Remember, teachers are parents on a budget too.
5. Seek items on sale, cut out coupons, buy in bulk and shop second hand. All these tips keep money in your pocket. In fact thrifting has become very popular with Gen Z!
6. Other second hand options include consignment shops or online marketplaces.
7. Reuse and repurpose. Before buying new items, take stock of what you have left over from last year. You may be able to reuse backpacks, lunch boxes, and other school items. Get creative and repurpose items whenever possible to save money.
8. School Lunches. Involve children when preparing snacks and lunches. They’re the ones eating it. There’s no sense in sending what they won’t eat. Take time on the Sunday to prepare larger meals. For e.g. casseroles and other dishes that can be made/portioned/frozen on the weekend and used throughout the coming weeks. Avoid buying pre-packaged snacks and meals. They’re expensive and often high in fats and salts. Find simple recipes on the Internet for granola and other snack bars, muffins, and other freezables/portables.  

By following these tips, you can effectively manage your back to school budget and ensure a smooth start to the new school year. Remember, it's all about being proactive, planning ahead, and making smart choices when it comes to spending. Good luck and happy back to school shopping!