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Back to School Budgeting

Various school supplies on chalkboard

The coming school year could be a nice return to normal for a lot of kids. But that can mean a return to normal for some expensive back-to-school supplies and more. Here are some tips to help you save some money as your kids go back to the classroom.

Overbudget: Anytime you can plan ahead, it can relieve some stress. Now imagine budgeting more than you need and then having some school shopping money left over. This tactic can help you stay out of debt too.

Track every expense: Use cash or your InRoads debit or credit card to track your spending. When using cash, use envelopes so that you know how much money is allotted to each child. With your debit or credit card, make sure to write down every transaction or login to Online Banking every day to see how much you’ve spent.

Don’t buy school clothes until November: Of course, having a few new things to wear on the first day can be important. But your kids will know what they really want and what is really in fashion a few months into the school year. It’s a move that will save you money and won’t fill their closet up with clothes they might not wear.

Don’t buy everything in one store: Shop around. You could find that pencils and paper are cheaper in one store, while pens and clothes are less expensive across town.