It is an exciting time when the kids go back to school and it is important that they have everything that they need so that they can enjoy school and succeed in their classes. This can also make it an expensive time for a parent as there will be plenty of purchases that you will need to make so that they have everything that they need. With this in mind, here are a few tips for budgeting for this tricky period.
Buy Second-Hand
In many cases you can make big savings on back to school items by buying second hand as opposed to brand new. It can be easy to find high-quality second-hand items at online auction sites like eBay so always check places like this before buying an item brand new.
Packed Lunch
Making a packed lunch is an excellent way to save money while also ensuring that your kids are getting a good diet. School lunches can be pricey as can buying sandwiches from the shops, but making their own healthy lunches with non-brand products from the grocery store is an effective way to save money.
Banking
Setting up an online account at a reputable bank like Think Money can help you to stay in control of your cash when times are tough. Many of these accounts will enable you easy access to credit should you need it for an unexpected cost, plus you can also control your day-to-day spending to make sure that your bills are always paid on time (this will also boost your credit rating).
Walking/Cycling
Another way to save money during back to school times is to cut down on the amount of driving that you do. It may be quick and easy to drive the kids in and pick them up each day, but this will cost a fair amount of money in the long run. If possible, encourage them to walk or cycle even if it is just once a week. In addition to saving money, this is also a good form of exercise and could develop their confidence.
Back to school can be an expensive time for parents and you will want your kids to have everything that they need for a successful term at school. Fortunately, the above are all effective ways to budget for this period and when used in combination they could have a big impact on your finances over the course of the school year.