9 ways to save on back-to-school
The kids will soon return to school, so you're heading off to the mall or big-box store for clothing and supplies. Here's how to minimize the damage.
It's back-to-school season again, and that means two unfortunate things: factoring in extra commute time for school-zone traffic, and spending a ton of money on kids' supplies and clothes.
The National Retail Federation says parents will spend an average of just over $600 this year on back-to-school shopping. They call that "practicing restraint," even though it's on par with the highest spending since at least 2003. (Last year's spending averaged about $3 higher.)
If you're aiming for an A-plus on savings, Money Talks News reporter Jim Robinson is ready to educate you in the video below. Check it out, and then read on for some "extra credit."
As Jim and our reader suggestions make clear, there are lots of ways to save on back-to-school stuff, and most are easy to follow (although some parents might struggle with the suggestion from one of our Facebook readers to "have less children"). You just need to do a little homework. Here are the CliffsNotes:
- Take inventory. Go through drawers and cabinets to scrounge up the supplies you already have. There's no sense paying for more pencils, crayons and paper because you forgot to check. Look for wear and tear on lunchboxes and backpacks to see if they're reusable, and get your kids to try on all their clothes so you don't need to buy a whole new wardrobe.
- Get the school's list. Many schools put out a list of required supplies, and sometimes these mention what the school provides (less and less these days) so you don't duplicate spending. It's useful for planning a budget, but check with your student's teachers too to make sure the list matches up and doesn't include "recommended" (i.e., not really necessary) items, or items specific to classes your child isn't taking.
- Go through the ads. Look for deals at department and big-box stores and figure out your shopping strategy. You may be able to save some time and gas by taking the ads to stores that price-match competitors.
- Check prices online. Depending on what you need (and especially if used products are OK), your best bet may be buying online. Try price comparisons at sites like PriceGrabber, Bing Shopping and Google Product Search, plus check Amazon and other retail sites. Don't forget to look for student discounts and coupon codes.
- Buy in bulk and bundles. Look for values in combo deals and larger packages. Sometimes spending more up front is the best way to save in the long run. And while we know you're not the one going back to school, don't shy away from doing a little math to figure out the unit price -- make sure you're actually getting a bargain.
- Take advantage of tax holidays. Many states offer sales-tax-free weekends on certain goods. Check our list of 2011 back-to-school tax holidays to find out details; what you can buy tax-free varies by state.
- Look off the beaten path. If buying used is OK, there are more options than you might think. Don't overlook yard sales and nonprofits like The Salvation Army and Goodwill. Pay it forward to those groups (or other church and community drives) by donating what your kids can't use anymore.
- Make the kids work for extras. If your children are complaining about reusing last year's lunchbox or if they want brand-name clothes, find out just how desperate they are: Ask them to do extra chores in exchange for a few bucks toward what they want.
- Shop throughout the year. If you want the best prices, never stop paying attention. While the National Retail Federation says back-to-school shopping is the second biggest consumer spending event after the holidays, the best sales are rarely the most publicized or popular ones. Like Black Friday, there are some good buys -- but there are also lots of marked-up prices.
More on Money Talks News and MSN Money:
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Even those who don't like to shop are probably hitting the stores this month. Here's what to be on the lookout for and here's what to avoid.