Savings Tips for Back-to-School Shopping

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It’s that time of year again – back-to-school time is almost upon us, although it seems like the summer just began. The back-to-school shopping season is a lucrative one for retailers, but it can be a cash-strapped one for parents and grandparents. Following are some tips to help you save money during the back-to-school shopping season.
Make a List Evaluate your child’s wardrobe and determine what still fits and what needs to be replaced. Figure out how many pairs of pants, shirts, socks, underwear and shoes your child needs to comfortably make it through a week. Check the school supply list from the teacher and weed through last year’s leftover school supplies for anything that can be salvaged. Heavy duty items such as clipboards and backpacks can usually be used for more than one year, while items like pencil crayons usually need to be replaced each year. Make a master list of all the items you will need to purchase before the start of the school year.
Build a Budget If you figure out the maximum amount you will need to spend per child – and stick to your budget – you will not be surprised by the amount of money you have to shell out to get your kids ready for the school year. Based on the master list you created above, realistically budget for all required items.
Check Sales Fliers Department store back-to-school sales fliers are a great resource to help with your checklist and budget . And each store often offers a few items at extremely low prices.
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These loss leaders are designed to draw customers into the store in the hopes that they’ll complete all of their back-to-school shopping in one stop. Savvy shoppers can take advantage of the sales at each store and get the best possible prices on a variety of items.
Start Early Waiting until the last minute to complete your back-to-school shopping may result in a few great sale purchases but, overall, more money will be spent trying to get all the items at once. Prices on popular back-to-school supplies will often go up at the last minute, making those sales prices a wash. Starting early ensures that you’ll be able to find all of the items your children need while, at the same time, getting the best prices.
Wait an Extra Month or Two If you miss out on early back-to-school shopping, waiting until after the school year has begun is also a smart decision. School supplies generally need to be brought to school on the first day, but all the clothing does not need to be purchased ahead of time. Ensuring that your child has one special, new outfit for the first day of school is often enough. Wait until the next month to make additional purchases to ease the initial financial burden. Most children start school at the end of the summer when the weather is still warm enough for summer clothes. Since long pants and long-sleeved shirts will often not be practical right away, these purchases can be delayed.
The back-to-school shopping season does not have to deplete a parent’s or grandparent’s bank account. Reusing existing items, smart shopping and timely shopping can ease the burden and make the back-to-school time a financial breeze if you plan ahead.
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Courtesy of: Bernie Tracey, Dominion Lending Centres Capstan
www.bernietracey.com
Posted by Cathy Doucette
on September 9, 2009