It’s the time of year again where summer is winding down and we are getting back into our routines — you either love it or hate it. This can be a stressful time for parents who are doing last minute back-to-school shopping and notice most of the available options are picked over from early shoppers. You also notice each year your kids supplies list seems to multiply, and so does the amount of money coming out of your pockets.
The average household budgets around $500 a year for back-to-school items. Luckily, my family has learned to budget and spend accordingly on things like this, and we fall below $500 on school supplies, even with four kids! This month, I am going to share some of the back-to-school shopping tips which have worked for me as a busy mom of four. Let’s see how we can make a $500 budget work for us.
Knowing The Best Time To Shop
Did you know the best time to shop for your back-to-school items is between mid-to-late summer? This is the perfect time as the prices of all the school items drop, yet the shelves are still full! No leftovers for you! I know this from experience over the last few years having four children in elementary school. These days, schools prepare in advance to get parents their child’s supplies list for the following year right when summer break starts, making it easier to stay ahead and get the supplies you need before they’re gone!
Backpacks: Quality vs. Quantity
You have to decide if quality is worth more than quantity. This year, I decided I will be purchasing higher-quality backpacks for my girls, which will hopefully last them longer. Although the better-quality backpacks are a little more expensive, I find it’s worth it in the long run. The last three years, I have purchased the generic brand backpacks for my kids only to find towards the end of the school year they are extremely worn. Every year, I have purchased four new backpacks for my kids, averaging $20 per backpack, which was a waste of money considering they did not even last the entire school year. A higher-quality backpack has the ability to last several years or more, ultimately proving to be a better money choice.
If you’re looking to invest in a high quality backpack, the best time of year to shop is spring time, since one needs a backpack then!
Clothing: Did You Know?
The clearance shelves are the perfect place to shop for quality items at a discounted price. I understand the temptation to shop for name brand clothing and to buy seasonal, however, our household tries to avoid spending double the price on items simply for the brand name. I always like to remind myself, my kids will only wear these clothes for a year until they have outgrown them!
A hidden gem I have found for busy moms with young kids is the one-year guarantee on some clothing brands. If you purchase children’s clothing branded by Cat & Jack, you are guaranteed a one-year clothing life expectancy. This means the company guarantees these clothes will fit your children for more than a year. If the clothes don’t fit after a year, you can return them for a refund! The past few years, I have been buying Cat & Jack clothing for my kids, and every year I take back whatever doesn’t fit to get a full refund — and, I’ll use the refund to purchase the next size up for them. This saves our family so much money on clothes for school, and by keeping yourself organized you can also take advantage of this opportunity!
Back to School Snacks
One of my best back-to-school budget tips is to prep snacks yourself instead of spending the extra cash on pre-packaged ones. You can save a significant amount of money by purchasing generic sandwich bags and the family-size box of crackers or fruit snacks, and disperse them yourself each week. This task is slightly more time consuming, yet remember, we want to make every dollar count! Bulk food stores are a great place to find large quantities of your family’s preferred snacks at a reasonable price. A great bonus of this tip is that you can typically pack healthier snacks and control portion sizes – a Mom win-win!
The beginning of a new school year can be stressful enough for parents — we are exhausted juggling everything needing to get done before the school year begins and savoring the precious time remaining with our children at this age. Do yourself a favor and pre-plan for this busy time by getting into a good rhythm each year leading up until their graduation — you will thank yourself in the end.
By employing these back-to-school budgeting tips, you may even have found a little extra room in your budget to go do something fun with your kids before the summer ends. Enjoy the last few weeks with your kids and embrace the fact we only get a limited time at home with them. Take them with you while you shop and teach them how to make the most with money. Rachel Cruze said it best, “More is caught, than taught.”
As always, if you need any assistance with your financial needs, the KerberRose team is here to help. Together we have many years of experience specializing in a wide range of needs, and we are eager to help wherever possible. Contact us today to get started!
About Alex
Alex is one of our financial wellness advocates on our Wealth Management team. She is a mom of four, and her passion is sharing her own personal finance journey from living paycheck to paycheck and drowning in debt to finding financial peace. Alex's unique experience has given her the ability to help families take control of their own personal finances - all while still enjoying what life has to offer.
Contact: alex.miller@kerberrose.com