Summer vacation is in full swing, which means back-to-school spending is just around the corner. Nearly half of parents expect to spend more than they did last year, shelling out an average of $922 on back-to-school expenses this year.
Even with new expenses on the horizon, a little preparation can go a long way. Creating a plan now can help you manage expenses with confidence, take advantage of back-to-school savings opportunities, and start the school year ready for what’s ahead.
Think of your budget like a family road trip. Planning before you hit the road can help you avoid unexpected detours and make the journey smoother.
Start saving now and stay ahead of the school year
Back-to-school season arrives fast. Setting aside money now, even for a few weeks, can make a meaningful difference when shopping begins.
A head start gives you time to compare prices, shop strategically, and avoid last-minute or impulse purchases that can strain your budget. You can also consider temporarily redirecting a portion of your regular savings contributions toward back-to-school expenses if it aligns with your financial goals.
Every dollar you save today can help you feel more prepared tomorrow.
Clear out budget roadblocks before they slow you down
Just like a road trip, removing a few obstacles before you get started can help make the journey smoother. A quick spending review can uncover opportunities to free up extra cash before the school year begins.
- Review your spending from earlier this year to identify expenses you can temporarily reduce.
- Compare wants versus needs to prioritize what’s most important for the upcoming school year.
- Cancel subscriptions or memberships you no longer use.
- Rotate streaming services instead of paying for several at once.
SECU can help you with this. Schedule a free 45-minute financial wellness checkup with one of our expert advisors to review your budget, spending goals, and map out a plan to achieve them.
Stretch your budget further with smart back-to-school savings tips
Thoughtful shopping habits can make every dollar go further. Whether you’re building your back-to-school shopping list or looking for additional back-to-school savings tips, a little planning can help you save more than you might expect.
1. Tap into the power of community
Back-to-school season offers plenty of opportunities to save while connecting with others in your community.
- Visit a school supply drive for free or low-cost school supplies.
- Attend a back-to-school fair. Many offer supplies, backpacks, haircuts, and more.
- Participate in neighborhood gifting groups like Buy Nothing groups and Freecycle.
2. Team up to share the savings
Families and friends can help one another save more when they shop together.
- Purchase commonly needed items in bulk and split the cost.
- Pass along gently used clothing that no longer fits one child but works perfectly for another.
- Save and reuse school supplies that remain in good condition from previous years.
A backpack may be new each year, but many classroom essentials can make more than one trip to school.
3. Shop smarter and save more
Giving yourself time to shop remains one of the most effective back-to-school savings tips.
- Shop seasonal sales throughout the summer and around Labor Day.
- Look for student discounts on technology, software, and educational resources.
- Check whether stores offer price matching or price adjustments after your purchase.
- Explore thrift stores and yard sales for quality items at lower prices.
Building your back-to-school shopping list early can also help you avoid impulse purchases and focus on what your family truly needs.
4. Put your rewards points to work
Credit card rewards can become another helpful budgeting tool when you use them responsibly.
- Learn how your rewards program works so you can maximize available benefits.
- Keep track of expiration dates on points or rewards.
- Pay purchases according to your repayment plan to avoid unnecessary finance charges.
Rewards work best when they support financial habits that already fit your budget.
Build a back-to-school budget that works for you
A simple budget can bring clarity and confidence to back-to-school shopping.
- Write down every expected expense, including school supplies, clothing, activity fees, technology needs, and costs like after school programs or sports equipment.
- Estimate how much money you can comfortably set aside for those expenses.
- Compare your available funds with your anticipated costs to identify any gaps.
- Look for discounts, community resources, or lower cost alternatives when needed.
Creating your back-to-school shopping list before you head to the store can also help you stay focused on what matters most.
Head back-to-school ready for what’s ahead
With a little preparation, you can stick with your back-to-school budget and avoid the September financial crunch. Remember, back-to-school shopping doesn’t have to happen all at once. Every smart choice, from starting your savings early to finding creative ways to stretch your budget, can help put your family in a stronger financial position for the school year ahead.
This season is also the perfect opportunity to engage older kids and teens in budget conversations, including the Greenlight financial education app, which is available free to SECU members.
And if you need back-to-school budget support, our team is always here to help.
