Back-to-school shopping is a time of fresh beginnings – growing children needing new supplies as they race through a new grade. It is also an occasion to spend lots of money, a reality made worse by the years-long inflation spike.
Families are expected to spend $41.5 billion in 2023 on back-to-school items, per the National Retail Federation, up from nearly $37 billion last year. That works out to almost $900 for families with kids in grade school, and more than $1,300 for those sending Junior off to college.
You can navigate this annual ritual without breaking the bank, or disappointing your kiddos, by enlisting a few simple tips and strategies to stretch your dollar further.
1. Create a back-to-school budget
Establishing a clear back-to-school budget is paramount.
Make one list of all the supplies you’ll need, from clothing to activity fees, for the whole year, recommends Kari Lorz, a certified financial education instructor and founder of Money for the Mamas. This sounds like a simple task, but many families simply don’t take the time to do it. (It’s also why two-thirds of families don’t know how much they spent the month prior.)
By writing everything down, you’re able to prioritize the most important items (say, fees for meaningful after-school activities) and sacrifice less important stuff (maybe reuse that old backpack).
Moreover, creating a school budget introduces your (older) kids to the wonderful world of personal finance.
“Involving your child in the budgeting process can be a great way to begin important financial conversations,” said Kelly Palmer, founder of the Wealthy Parent.
And don’t wait until the last minute to make your spending blueprint.
Money for the Mamas founder Kari Lorz starts setting aside $15 a week for school supplies in June. By the time school season rolls around, she has at least $200 saved.
“It’s such an easy way to spread out the season’s expenses while still keeping within my monthly budget,” said Lorz. “And as soon as back-to-school spending is done, I start saving for Halloween costumes and candy.”
You could use one of the best high-yield savings accounts to help.
2. Shop your home first and check out school supply drives
Before heading to the store, take a moment to explore what you already have. Some school supplies like folders, binders and pencils can be reused from previous years.
To avoid purchasing unnecessary items, Andrea Osorio, a Senior Wealth Advisor at Citi Personal Wealth Management said to never assume what your child will need and always refer to the back-to-school shopping list provided by the school.
If you’re in a financial crunch, see what schools near you can offer.
“Many schools have programs available for people to donate resources such as backpacks or general supplies that you can leverage,” said Osorio.
By reducing costs, you’re less likely to be tempted to dip into your family’s emergency fund.
If there isn’t a school program, there may still be other resources.
“Reach out to your school’s resource coordinator,” said Lorz.
3. Look for swaps, secondhand and refurbished goods
Ask family members for anything that their kids may have outgrown and check out local resources for swap opportunities.
“If your kids have outgrown school clothes that are still in good shape, consider offering them to your local community, such as on a ‘Buy Nothing’ Facebook page,” said Lorz. “After offering my daughter’s Frozen-themed backpack and lunchbox on my local group’s page, I received requests from several parents and was able to swap for school pride shirts in return.”
The emphasis isn’t just on clothing.
Many parents are looking to declutter and would be more than willing to pass on items to those who can use them. Durable goods like backpacks, lunch bags and sports equipment can also be sourced secondhand.
For example, a “pencil case adorned with pink flowers that your daughter no longer needs might be the perfect fit for a friend’s child, ” said Tanya Peterson, vice president of Achieve, a New Jersey-based company that helps people with debt consolidation.
For specialty items, like sports equipment, musical instruments and graphing calculators, you can visit specialty shops, such as Play It Again Sports, to check out the second-hand goods. Larger companies like Best Buy and Amazon also sell “open box” and refurbished items at a discounted price.
4. Prioritize function over fashion for back-to-school
Keeping a budget doesn’t mean you have to forgo the new, cool thing; you just need to get creative.
“It’s easy to overspend on a fashionable new backpack that’s perfect for Instagram photos,” said Palmer, “but, if a stylish backpack is truly a priority, there are cost-effective alternatives.”
She suggested exploring brand-name options from Poshmark and Facebook Marketplace or buying a basic backpack and customizing it with unique embellishments from Etsy or craft stores.
Overspending on clothing can also be a temptation, but may ultimately lead to mere frustration.
“When my daughter first started school, I thought she should be dressed to the nines,” said Olivia Delong, senior health editor at BabyCenter. “Boy, was I wrong.”
This is especially true for younger kids who generally prefer wearing a few outfits repeatedly, rather than a different one each day of the month.
DeLong now opts for more affordable, practical outfits for school days, focusing on basic colors that can be easily mixed and matched.
5. Go generic
“Going with generic brand products over name-brand products can save you anywhere from 30% to 50% on school supplies and basic clothing”, said Andrea Woroch, a money saving expert and co-author of “Pivot With Purpose.”
For example, Target’s brand ‘Up & Up’ has a one-subject notebook that costs about a dollar, while the same style notebook from the brand Five Star is $3.39. Meanwhile, Walmart’s Wonder Nation uniform polo shirt costs under $5, but a similar style and same color from Lands End is $36.95.
You’ll also likely pay more for character-themed school supplies.
“Any materials with a licensed product on it, like your child’s favorite TV or book character, are usually sold at a premium,” said Osorio. “So, getting back to the basics (read: logo free) will help reduce costs as well.”
6. Shop sales and tax-free holidays
Get the school supply list as early as possible in the summer. By planning in advance, you can give yourself time to find what you need for a lower price.
“This gives you ample time to wait for sales, collect coupons and price match between stores,” said Lorz.
And when you shop a sale, only get what’s on sale.
“Typically, retailers will offer a great deal on select items to attract buyers knowing they’ll likely buy other things while they’re there,” said Osorio.
Instead, compare prices across multiple retailers, in-store and online, and don’t buy something just because it’s convenient.
Another key strategy is to leverage tax-free holidays.
“Comparing store circulars and taking advantage of tax-free sales holidays can lead to significant savings, especially if your state participates,” said Woroch.
Presently, 18 states offer tax-exempt sales for back-to-school items like clothing, supplies and even personal computers.
7. Team up for bulk purchases…and wait if you can
Buying in bulk can offer savings, but only when done wisely.
“Look carefully at the quantities. Will your child really need 50 pens or 100 folders?” Peterson said.
If not, consider splitting such purchases with other parents, allowing you to capitalize on bulk discounts without fronting the entire cost and having to store the excess.
And you needn’t go all-in on everything at once.
“It may sound counter-intuitive, but, sometimes, there are supplies on the list that kids won’t need right off the bat,” said Peterson. “If you can wait to purchase one of these, clearance sales usually begin right after school starts.”
Consider contacting your child’s teacher before you buy big-ticket items.
“Maybe the graphing calculator isn’t needed until half way through the year so you can alleviate your budget and wait to buy this since you’re spending on other supplies now,” Woroch said.
8. Don’t overdo it on teacher supplies
While you may want to contribute to your kids’ classroom, don’t feel obligated to over do it.
“Teachers appreciate any contribution, whether it’s supplying the class with art supplies or providing the occasional box of tissues when you see them on sale,” said Leah Rocketto, an associate director in Everyday Health Group’s Pregnancy and Parenting division.
And if you can’t make it work in your budget now, that doesn’t mean you won’t be able to in the future.
“If there’s something on the list that may be too pricey now but later goes on sale, you can always donate to teachers throughout the school year,” Osorio said.
Frequently asked questions (FAQs)
The first step is to gather your child’s school supply list. Take stock of what you already have at home, such as pens and folders, to avoid overbuying. Then see what you’re able to get for free from sources like school supply drives and community swaps. Everything that’s left over is what you’ll need to purchase.
Next, decide how much you can comfortably spend in total and set that as your budget for the remaining items.
Organize your shopping list by priority and start with those purchases first. If you max out your budget before you’ve reached the end of the list, remember that it’s okay to buy leftover items once the school year has already started. You might get them on sale!
Ask friends and family if they have any gently-used items they’re willing to part with, especially if they have children that are slightly older than yours. You can also post in appropriate social media groups to see if anyone in your community is able to give away items you need.
If you head to the store, opt for generic or store brands. They’re often cheaper and can have the same quality. Lastly, try to shop during tax-free sales holidays and search for coupons.
Timing is key when it comes to finding the best discounts and sales. In July and August retailers offer many school supply sales and some states have tax-free sales holidays. In the early fall, September and October, you can often find clearance deals for school supplies, summer clothing and last-year’s fall styles. Lastly, consider post-Christmas sales for winter clothing and outerwear bargains.
