Back-to-School Saving Secrets

It’s back to school, and you know what that means — shopping! Stocking up on new shoes, pens, pencils and more year in and year out can take a toll on the wallet. In fact, the most recent study by the National Retail Federation on back-to-school spending habits found that families with school-age children planned to spend about $500 on back-to-school items in 2004. Since that number was up 7.2 percent from 2003, it’s bound to go up even higher in 2005!

Shopping for school supplies doesn’t have to add up to a financial nightmare. Here are some creative ways to keep money in your wallet and save it for...college!

1. Go through your own house. Your kids may want a new box of crayons, but if you have four unopened boxes sitting in the playroom, there’s no need to buy a new one. Encourage sharing of supplies amongst siblings. If your oldest daughter Jackie finds two new packages of loose leaf paper in her desk drawer, ask her to give one package to her younger brother, Steven.

2. Set a budget. After taking an inventory of what supplies you already have, make a prioritized list of what you need for the school year. And check your school’s dress code before going on a shopping spree. Loop your child in on the budget. That way, he can get a practical lesson in math outside the classroom.

3. Don’t feel like you have to buy everything before school starts. Over the summer, a teacher may send a list of what you need to buy, but that doesn’t mean you have to buy those items immediately. Start with the essentials like pens, pencils and erasers, and buy the extras like the protractor and fancy eraser later on down the road. Teachers may change lesson plans during the school year, and your child may not even need those extra items after all. Waiting also gives you a chance to shop for those items during clearance sales.

4. Clip your way to savings. That means scanning papers and flyers for coupons.Get the kids into coupon clipping and you’re also instilling in them a lesson in budgeting.

5. Hunt for bargains. You’ll notice that one store puts staplers on sale and another has rulers on sale. That’s why it’s important to shop around. The back-to-school section of the drugstore may not be your best bet. You might find that items are cheaper at office-supply or bulk warehouse stores. Just don’t shop too much: You’ll end up spending your budget on gas!

6. Wrap books creatively. Don’t waste money on textbook covers. Use old wrapping paper for a creative touch. Take the cartoon section from the newspaper to add some color to a book cover. Wrap books in brown-paper grocery bags and kids can decorate to their hearts’ content.

7. Make it yourself. You don’t have to be a seamstress to make your kids’ school supplies. To make a pencil pouch, Sew together two pieces of fabric in your son’s favorite shade of blue. Then stich his name on the front. Or, look to household basics that can double as school supplies. Concoct a pencil holder from an old can of frozen juice. Finished boxes of cereal and detergent can make magazine or book holders.

8. “Steal” it. Your office may have a surplus of pencils or notebooks that will eventually be thrown away. Just ask someone before you pillage the supply closet, of course!

9. Spend more and save. Sometimes you have to spend a little bit more to get a better-quality item. That blue plastic backpack may be cheap, but if you have to replace it by holiday break, it’s not worth it. So spend a few extra dollars, and that backpack will still be in one piece come the last day of school!