As the back-to-school season approaches, many parents are feeling the financial strain of purchasing school supplies and other necessities for their children. According to a recent survey, nearly one-third of parents are unable to afford back-to-school shopping this year. In addition, 34% of parents plan to take on debt to cover these expenses, with 16% expecting to accumulate up to $1,000 in debt.
The rising costs of back-to-school shopping can be attributed to factors such as inflation and a decrease in sales, particularly in tech products like laptops. Samantha Gordon, a deals editor at Consumer Reports, noted that there are „definitely fewer sales“ this year, making it essential for parents to be savvy shoppers and find ways to save money.
To help parents navigate the back-to-school shopping season without breaking the bank, experts offer several tips. One suggestion is to start shopping early to allow for more time to research options and find discounts. By spreading out purchases throughout the year, parents can avoid a financial burden all at once.
Comparing prices is another key strategy to ensure that parents are getting the best deals on school supplies. By leveraging retailers‘ loyalty programs, price-matching policies, and discount codes, parents can maximize their savings. Waiting to buy certain items can also lead to bigger discounts, as companies often run pre-holiday sales in October.
Buying in bulk at wholesale clubs like Costco, BJ’s, and Sam’s Club can be a cost-effective option for families looking to save money on school supplies. Additionally, taking advantage of tax holidays in states that offer them can help parents stock up on items like electronics without paying sales tax.
For items that may not need to be purchased new, experts recommend doing a quick inventory at home to see what can be reused from previous years. This approach can help families save money and reduce waste by avoiding unnecessary purchases.
Overall, as parents navigate the challenges of back-to-school shopping in a year with higher prices and fewer sales, it’s important to be strategic and resourceful. By following these tips and being mindful of their spending, parents can ensure that their children are prepared for the upcoming school year without breaking the bank.