It adds up!
Surveys reveal parents of K-12 students will spend an average of $541 on back to school shopping during the month of August.
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Back to school season is right around the corner, and with the anticipation your child brings for the new year comes costs - both expected and unexpected.
Here’s a guide to help your family be financially mindful when the first bell rings:
Supplies
Some costs are unavoidable, like school supplies. A huge tip for managing costs for back to school supplies is reviewing your spending history from previous years to help you maintain a budget.
Clothing
Sometimes, less is more. You may be tempted to snap up every possible outfit combination your child might need, but retail prices tend to drop in later fall months after August surge pricing wears off. Additionally, look to take advantage of sales, as well as tax free weekends in neighboring states.
Extracurriculars
Extracurriculars often mean extra cost. Equipment, fees, uniforms, and fundraising can all contribute to increased spending. Talk to your child early about what they might be interested in throughout the year and budget accordingly.