Key Takeaways

• • • Back-to-school shopping can be stressful and expensive; planning can help.
    • Take time to list what you need and find what you have on hand before you shop.
    • Create a budget based on buying priority items first.
    • Look at ways to save including some tactics you haven’t considered.
    • Follow up with a plan to start saving for next year’s fall spending.

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    Summer is almost over, so it’s back-to-school shopping time. If you’re feeling worried about affording all those school supplies, electronics, clothes and shoes—don’t stress! With a little planning, you can streamline your shopping and save money. Here’s how:

    Take Your Time

    Before you begin shopping, review what you need. Make a list with the most important things at the top and work your way down. This will help you see a complete picture of what you need to get and make shopping less stressful.

    Shop Your Inventory First

    Look at what you already own before buying new items.

    • There might be school supplies left over from last year that can be used again.
    • Go through closets and drawers to find clothes that still fit. You might find some hidden gems that are a perfect fit for younger children.

    Don’t Fear the B Word

    Yes, we mean Budget. Even if it’s not your favorite thing to do, making a back-to-school budget will help you know exactly how much you can spend before you start shopping.

    • Make a List: Write down everything your kids need for school. Separate the things they must have (like school supplies) from the things they’d like to have (like new clothes).
    • Estimate Costs: Make an educated guess how much each item or category will cost. Add up these costs to determine your total budget.
    • Prioritize: Decide what items you need to buy right now and what can wait.

    Plan, Shop and Save

    • Timing: Check when your needed items go on sale. You might find some items marked down after the back-to-school rush that you can stock up on for next year as well.
    • Store Apps: Download apps for stores as they often have special deals.
    • Clothes: Your kids don’t need all their new clothes at once. Buy a few new things now and add more later.
    • Quality Over Price: For items that get heavy use, like shoes and backpacks, consider quality over price. It’s better to buy something that lasts the whole year or beyond.
    • Electronics: Look for reconditioned (or refurbished) electronics. They cost less and still work well.
    • Price Matching: Check online, look at coupons, and see in-store flyers for the best prices. Some stores will match a lower price if you show them where it costs less.
    • School Supplies: Dollar stores and office supply stores often have cheaper supplies. Also, consider the school’s prepared supply box, which might be cheaper and save you time.

    It’s Over When It’s Over

    After you’ve bought everything, keep an eye out for lower prices on what you’ve already bought. Some stores will give you a refund if the price drops within a certain time.

    Don’t Forget Extracurriculars

    Expenses for extracurricular activities like sports and clubs can add up fast, so plan for these costs too. Keep some money in your budget for activities happening throughout the year. 

    Save for Next Year

    Now that you know what to buy, consider saving ahead for next year. You can use savings tools like Lake City Bank Digital’s Goals* to set aside money automatically throughout the year.

    With a bit of preparation and strategic shopping, you can navigate back-to-school season without breaking the bank. By planning ahead, utilizing available resources, and prioritizing your purchases, you’ll ensure that both your budget and your kids are ready for a successful school year. Happy shopping!

     

    *Goals, as referred to herein, constitute the Goals Account described in Section E Investment Accounts of the Personal Account Terms and Conditions.