Save Money: How to Get Back-to-School Supplies for Less

It’s that time of year again. Back to school spending … I mean shopping.

You know how it is. You’ve just gotten used to having the extra time to spend with your kiddos and then boom! Before you know it, it’s nearly time for them to head back to school. I remember how, when we were younger, summertime always felt like it went by within the blink of an eye. (Although, I think our parents were welcoming the new school year with joy, LOL)

It’s Just so Expensive!

Fortunately for our family, our kids are home-schooled. So although they DO still need pencils, USB drives, and a hundred and one other things, it’s nowhere near the average back-to-school supply list that the local school sends out.

Did you and I ever have lists of things we needed to bring to school each fall? I don’t remember any. Have any of you parents asked that the school include a list of money-saving tips along with the checklist of requirements? I kind of wonder how that would play out. Now, researchers say that the average family spends $688.62 to send their kid back to school. It’s the second-largest expenditure for parents after Christmas. And Christmas is a lot more fun.

To make things worse, if your kids are anything like ours, they are drawn to the most expensive version of school supplies, whether it’s a backpack, water bottle, or pen. If there’s a picture of a superhero or a cartoon character on it, it’s simply a must-have.

You know your kids and their teachers work hard at school, so you want them to have the supplies they need. But each year the back-to-school list seems to grow and grow and grow, making it difficult to save money. How do you keep your budget intact, your Money Relationship humming along, and your kids happy while getting the necessary supplies?

Here are three “extra credit” steps to make school shopping stress free:

1.  Make a PLAN

Creating a back-to-school budget isn’t difficult. Simply go through your school’s supply list and make an estimate of how much each item is going to cost. Then, you just calculate a total.

Office supply websites, Amazon, or even Walmart ads can help you get an idea of what each item costs. Each grade is different, of course: your highschooler isn’t going to be satisfied with a backpack made for six-year-olds. You could go in planning $400 and end up spending $600. Who has an extra $200 just lying around for school supplies? An overage of that size is sure to upset someone when you come home with less cash because you had not planned on it.

It’s a good idea to build a “fudge factor” into this kind of spending plan in order to save money. How does this work? Well, knowing that you’re allowing yourself to spend a little extra when an item your kid needs isn’t available at the price you’d hoped allows you to change your plan on the fly. If you know that you can spend $20 more on either sneakers or stationary, the choice becomes much clearer.

Don’t use this “fudge factor” as an excuse to purchase more back-to-school supplies than you have to, though. Stick to the list the school gave you. Don’t get pulled into purchasing something “cool” if it’s not on the list.

2.  You Don’t Have to Buy Everything RIGHT NOW!

If your kids don’t need it from the very first day of school, wait for a sale. You’ve seen the mountains of supplies at the stores. There will be “leftover”, surplus items in every category and the store will most certainly mark that merchandise down to move it. Be the one who benefits from this kind of timing. Understanding how retail prices rise and fall throughout the year is a way more powerful money-saving tip than anything involving coupons.

They put all the back-to-school items out in July, but the longer you wait, the better the deal you are going to get. Even before the first bell rings, retailers already want to clear that stuff off of their floor. (Inventory just sitting on their shelves actually costs them money.) Even better, wait a week or two until after school starts and only then pick up what you need for this year and next. You’ll have to wait for your school’s recommended supply list before you buy certain, very specific items, but you can always buy stuff like notebooks and highlighters months in advance.

3.  Involve the KIDS!

Make sure you bring your kids along when you go shopping. Don’t let them know they’re learning, but back to school shopping is a great time to teach them about money management. This particular subject is unfortunately still covered very poorly at school, so it’s up to the parents.

Talk about the difference in the price of certain items, ask them to calculate the higher price as a percentage of the item, discuss how many hours of a job it would take to purchase backpack A versus backpack B. Use the time to help them understand more about saving and spending.

This teaching-by-example kind of thing is the best financial literacy education you can give your kids. Ask them whether they really need the brand name crayons? The new backpacks are cool, but do they need them or just want them? They can put some of their money into that backpack they really love!

Kids today are learning far more advanced material than you and I did at that age, for sure! But let’s show them how smart we are by saving on back-to-school shopping this year. What other hacks do you practice to keep your budget intact for back-to-school shopping? Share your A+ tips in the comments. Enjoy your final days of summer.

Make it happen!

Taylor & Megan Kovar

The Money Couple