Smart Planning for a Smooth School Year
It’s back-to-school season, and your kids are itching to get their hands on all their new, cool supplies for the year. While they’re fretting over what color folders they should bring to class and what style of water bottle will look best, you’re checking your bank account and asking yourself how to keep the kids — and your wallet — happy.
If you have a full house and an even fuller cart, we promise you can start the school year with an A+ in spending. Take it straight from the folks at your local bank who know how to stretch a dollar and support families like yours no matter the season.
1. Revisit Previous Years’ Spending
Assuming this isn’t your first rodeo, think back to last August. What items cost you the most? Were there any supplies that turned out to be cheaper at one store than another?
If you have access, it’s a great idea to go back to your old bank statements and see the actual amount you doled out for the kids. Unless there’s been a major change like your child graduating from pre-school to elementary school, you can expect the cost to be around the same amount.
2. Set Your Back-to-School Budget
Before you let your kids loose at the store, set expectations. Figure out how much you can spend on school supplies and how much you can allow for each of your children to have. This way, if all of them come back with the trendiest, most expensive headphones, you can remind them that they have a budget to stick with.
Make sure to include any extra costs that wouldn’t make it onto a homeroom teacher’s list. Maybe you have a kid in orchestra who needs a pricey instrument or a child who needs to buy a team jersey for fall sports. These are both school-related costs, but things that might not be on the catch-all list from your teacher.
Your local bank can help you get ahead of the game with budgeting tools, savings accounts, and financial advice tailored to your family's needs. It’s best to be prepared so you're not caught off guard when the extras start adding up.
3. Take Inventory Before You Shop
Check your stock before you head out to shop. You may have some of the school supplies your kids need at home. You can save money simply by checking your junk drawer or even rifling through last year’s backpack to see if their folders, pens, pencils, and other supplies are still in good condition. It won’t save you entirely from the back-to-school shopping spree, but it could lower your total at the end of the day.
4. Find Sales and Use Rewards
Most major retailers know the back-to-school season is a great time to run sales, promotions, or launch new rewards systems. Whether you get a headstart in July or you're rushing to the nearest store the night before school starts, you can probably find some good deals. The trick is knowing where to check.
Online, you can sign up for any rewards in advance to take advantage of in the checkout line. In-person, you can check out the display signs and see if there are any bright, loud signs pointing you towards discounted items.
Just like it’s smart to check in with your local bank about any special deals on opening a savings account or getting a loan with a lower interest rate, chances are that if you’re looking for a deal, you’ll find one!
5. Build a Year-Round Budget
Back-to-school shopping might feel like it's just a summer event, but school-related expenses can pop up all year long, whether it's field trip fees, science fair supplies, or unexpected classroom requests. Planning with a year-round school budget can help you avoid surprises and stay afloat throughout the semesters. Setting aside a small amount each month can go a long way.
Your local bank can help you make a plan with their budgeting tools, automatic transfers, and personalized support. Finding the right banking partner can ensure your family's finances stay on track long after the first-day photos are taken.
Make Back-to-School Season Simple
With a little planning and the right financial tools, back-to-school season doesn’t have to be stressful or expensive. Set a realistic budget, look out for savings, and plan for the year ahead. Small steps can make a big difference.
Whether it’s figuring out how to stretch your dollars further or creating a plan for unexpected school costs down the road, it helps to have support from people who understand what families in your community need. Local banks can offer practical tools and advice that fit your lifestyle so you can focus more on your family and less on financial stress.