Financial Topics & Tips
Get Through Back to School Season Without Spending a Small Fortune
Back-to-school time is the second largest shopping season of the year. If all that spending makes your head pound, take heart. Read on for 13 back-to-school saving tips.
1.) Do a house-wide sweep
Before you spend a penny, scour your closets and drawers to see what you have lying around the house. Round up all the supplies and list everything you’ve found. Keep the list handy so that you don’t forget what you have and end up buying things you don’t need.
Also, while digging through your kids’ closets, sort and purge. This way, their closets won’t be cluttered with junk and you’ll know exactly what each child needs.
2.) Get the teacher-approved list
Pay close attention to specifics on the supply list sent home by your child’s teacher or found at major retailers. This will prevent you from being forced to later repurchase supplies that fit the teacher’s criteria.
3.) Spread your purchases
Spreading your back-to-school shopping throughout the summer will allow you to take advantage of weekly sales.
Also, by scattering your purchases, you won’t feel the financial squeeze as much as you would if you bought everything at once.
4.) Take advantage of sales-tax holidays
Many states have a sales-tax holiday sometime during the summer. Tennessee's Tax Free Weekend is July 27-July 29, 2018. Do your shopping at that time.
5.) Organize a clothing swap
Organize a clothing swap party with other parents in your area. Choose a date and venue, and instruct all attendants to show up with three or more items of gently used children’s clothing. At the party, parents can exchange their kids’ outgrown clothing and go home with incredible finds – all free of charge!
6. Find the best prices
Hunt for specials in the weekly circulars and look up coupons and deals online, on sites like RetailMeNot and CouponCabin. You can also check out PriceGrabber.com or use the ShopSavvy app to find the lowest possible price on an item.
7.) Use Twitter and Facebook to save
Many companies send coupon links to followers and let them know about upcoming sales. Monitor your favorite stores’ Twitter feeds and Facebook updates to find super deals.
8.) Save through Ebates
When you buy through Ebates, you earn cash back on every purchase. You’ll also find exclusive deals and offers on the site. You can shop major stores like Macy’s, Walmart and Kohl’s on Ebates. It’s like getting paid to shop!
9.) Time it right
Purchase what your child needs for now, and save the rest for later. You’ll find deep discounts on fall clothing just a few weeks into the school year.
10.) Set limits
Each year there’s a must-have school supply or clothing trend that costs a bundle. Set limits. Allow your child to choose one or two pricier items – but that’s it!
11.) Cash or debit card only!
Paying with cash or using your debit card so it draws from your checking account helps you stay within your budget. Resist the urge to charge if you can. This will help ensure you aren’t paying interest long after the pencils have already broken.
12.) Plan ahead
When school supplies and backpacks are ridiculously discounted a few weeks into the school year, stock up for next year.
13.) Take advantage of Back to School loans at low interest rates and terms.
If you need a loan, look to The Tennessee Credit Union to deliver. Our Back to School Loan Special has a short term of 12 months and a low payment on $1000 borrowed, plus make no payment for 60 days. That’s a great way to start the year off – being able to buy the supplies your student needs, without worrying about a payment for 2 months. Learn more. Or apply online now by clicking the button below.