For many parents, this price-tag seems daunting. But here’s the good news: you can still get your kids the school supplies they need without spending anywhere near $500. In fact, with careful planning, you can spend $100 (or less) on back-to-school necessities this year. Take a look at our 5 tips below and start saving money right now.
1. Shop Your Home
Before you even set foot inside a store, take inventory of what you have at home. Do you have binders that are in good shape? Do you have boxes of crayons, markers, or pencils that your child can use instead of new ones? Shop your home first by seeing what supplies you already have available. Then, cross off the items, gather them together, and make a list of all the remaining school supplies that you still need to buy.
2. Buy Only What’s Needed
If you’ve received a list from your school district stating what you need to buy for your child this year, only buy the items on the list. And, unless the list states a specific brand or size, choose the cheapest option available. As long as the particular item will serve its purpose and get your child through the school year, there’s no need to pay extra for the brand name. For example, in the Midwest, Crayola Crayons cost about $4.98 for a pack of 24 crayons. Yet, store brands from Target or Walmart only cost $2.98 for the same 24-pack.
Remember, you only have a $100 budget. If you want to make sure you don’t go over that amount and you’re only buying what you absolutely need, go shopping with only $100 in your checking account (you can always move money to your savings account and then back to your checking account later.). While some banks may charge you for dipping below a certain amount, in your checking account, you can always switch to a no fee bank to avoid that.
If your child needs more crayons (or any other school supplies) throughout the year, purchase them when the time comes. And remember: if you purchase extra items that aren’t on the list provided by your school, they may sit around your house all year. Wasted money.
3. Buy Online
Along with only buying what you need, you can receive significant savings on back-to-school supplies by shopping online. Not only does this save you time, but different stores will typically offer online only deals on school supplies.
Popular stores like Staples, Walmart, Target, and even Amazon will send out emails about back-to-school deals. If you haven’t signed up for these email lists, now is a great time to do this. This way you can get deals delivered right to your email in-box.
Another great reason to shop online for back-to-school supplies is that you’ll often qualify for free shipping straight to your home, or even to your local store if you’d rather pick up there. The items you find and pay for online are still eligible for returns, so there is no risk to you if you choose to shop online for back-to-school supplies. Instead, it’s just another way to save money, time and energy.
4. Use Coupons
If you have to buy brand name items, or if you want to save even more money, coupons, price matching deals, and savings found on apps can shave even more dollars off your back-to-school shopping bill. Almost all major retailers offer price matching, so if you find a product cheaper somewhere else, you can alert the store you’re purchasing from and they will match the price. The major retailers want your business, so don’t be shy. Take advantage of price matching to get the best deal for you.
If you decide to use coupons, remember to read and understand the store’s policy on how you can use your coupons. Each store is different, and it’s better to know the policy up front so you aren’t wasting time later. For example, some stores will not accept a store coupon on top of a manufacturer’s coupon. So, if you have a store coupon and manufacturer coupon for the same item, you may only be able to use one. The bottom line: read the policy, get your coupons in order, and make sure you have everything squared away before using them.
Even if you don’t use price matching or coupons, you can still save money or earn money back through your purchases. Apps and websites such as Ebates, Ibotta, and Checkout 51 all give you cash back for purchasing certain items or shopping at particular retailers. All you have to do is submit your receipt and the cash back or savings is then added to your account.
Also, if you use your Chime Visa® Debit Card, your purchases will round up with each transaction, thus adding more money into your savings account without having to think about it..
5. Check Out Discount Stores
Last but not least, don’t be afraid to check out discount stores or thrift stores. These stores aren’t just for cheap clothing or household items. You can find a plethora of back-to-school supplies for $1 or less. Plus, if your local thrift store offers discount days or extra coupons, you can use those to save even more.
If you decide to shop at a discount store, it’s important to remember that you may not find name brand items. However, if that’s not important to you, a discount store like the Dollar Tree can help you spend just one dollar or less on each item you buy. In other words, if you buy 40 items you may get away with spending only $40, which is well under your new $100 budget for back-to-school supplies.
Don’t Bust Your Back-To-School Budget
While the average parent may spend $500 on back-to-school supplies, you don’t have to spend anywhere close to this much money. It is possible to stick to a $100 budget for your child’s school supplies. All it takes is a little planning and willingness to shop around for the best deals.