Summer is coming to a close, so back-to-school shopping will soon be in full swing. It can be a costly time of year if you aren’t prepared for it.
The National Retail Federation estimates that families with children through elementary and high school will spend an average of $890. In the spirit of saving money, we’ve rounded up five back-to-school shopping tips for folks on a budget.
1. Figure out what you need
Most schools provide recommended supply lists for each grade level. Before you run out and buy every item, check with the teachers first to see if you need everything immediately. For example, there may be supplies that your child won’t need until mid-year. In that case, you might be able to put off buying certain items for a few months.
2. Hit up a dollar store for classroom basics
It isn’t uncommon for teachers to ask students to bring in things like tissues, paper towels, disinfecting wipes, and other essentials on the first day of school. Your local dollar store can be a great resource here. Alternatively, you can buy the generic brands at Target, Walmart or your local supermarket. You might also buy these items in bulk for your own home, then pull out a few to donate to the classroom.
3. Check out clothing swaps and consignment stores
If your child needs new school uniforms, you might find local parents looking to trade used uniforms that are still in good condition. Asking around on social media (especially private groups for your school, if there is one) can be a great place to start. If you have to buy new uniforms, check with the suggested retailer to see if they’ll be running sales anytime soon. You might also save by buying generic shirts, then sewing on your school’s patch yourself if they allow it.
Students who don’t require uniforms might luck out a local consignment shop or thrift store. Do your research to see what’s available in your area.
4. Explore outlet malls
You might snag steep discounts at outlet malls. If any of the stores (or the outlet mall itself) offer customer rewards programs, that could provide extra savings in the future. Research your nearest outlet and start there. With gas prices being what they are, driving a long distance to get there could negate any savings—so it pays to be strategic.
5. Leverage store rewards
Stores like Old Navy and The Children’s Place allow store cardholders to earn rewards with each transaction. They also offer exclusive deals that could translate to significant savings. Opening a store credit card could save you money, but you’ll want to be sure to pay off your balance in full each month to avoid high-interest charges. The average interest rate on a store card is over 28.9%, according to CNBC Select data.
Budgeting and Financial Wellness
DailyPay is more than just a tool that can help people get the money they have already worked for, it is also meant to help improve users’ financial wellness. Budgeting is an important part of financial wellness and DailyPay’s ability to allow users to track and see how much they make a shift can help you budget overall. Give yourself a leg up on the back-to-school shopping this year with more financial wellness powered by DailyPay.
