Time to Do Your Back-to-School Homework

Time to Do Your Back-to-School Homework

It’s that wonderful time of year that parents love and children despise. As happy as you might be about school getting started again, it also means back-to-school shopping, which is much less exciting. Whether you’re preparing to buy your kid’s supplies, your own supplies, or maybe even both, it’s important to take some time and plan for future expenses.

Over the past several years, back-to-school spending has been on a gradual incline due to the combination of physical and online learning environments. This unique mix has resulted in longer and more expensive shopping lists, including tablets, laptops and headphones. However, with COVID19 shaking things up, experts are expecting a significant drop in spending. In 2019, the National Retail Federation reported an average spending of $696 per household with K-12 students. This year, they predict the same average to be down around $530 per household. While that means less spending on your end, it doesn’t mean you shouldn’t prepare. Now is the time to get ahead, so your back-to-school spending doesn’t come as an unwelcome surprise.

More virtual learning means more high-tech equipment. This may sound expensive, but it doesn’t have to be. Think about a new laptop, computer or tablet as an investment. Unlike your typical back-to-school supplies, this will last long after the school year and is not a recurring purchase. Of course, there’s always the possibility of your device crashing and or needing repairs. Good news is, Heights Finance can get you quick cash for unexpected expenses. Just pull out your handy phone and search “Heights Finance loan” to locate a loan office near you. Our loan specialists can help build the perfect personal loan for your needs. You can even apply online… Online loans? Everything really is online these days.

So, we know back-to-school shopping will be a little different this year. However, many people’s financial situations are also looking a little different. So, we’ve put together some tips on how to get the most out of your dollar.

Step 1: Repurpose Supplies

Go around the house and gather all the supplies you saved from last year. So often we are trying to help our future selves out, but end up forgetting we did so. Collect your half-used notebooks, pillage that drawer full of pens, pencils and highlighters… Don’t forget those extra scissors and rulers you have lying around either.

P.S. You don’t have to do it all yourself. Make it a game and have the kids pitch in. Collecting school supplies can easily become a treasure hunt for your little helpers. Either way, you’ll be surprised by how many things you can check off your list.

Step 2: Shop Online

Another effect of COVID19 is the increase in online shopping. While going to the store and picking out supplies is usually the most exciting part for the kids, shopping online will be your saving grace. Here’s why:

  • Avoid crowds and long check outlines
  • Search for and compare prices
  • Find discounts on coupon sites
  • Less distractions.
  • No kids begging for the coolest, new gear.

With the ability to click between stores, you’ll not only be saving time but also gas. You can also download browser extensions such as Honey and get coupons instantly added at checkout without having to scour the internet for them.

Step 3: Hit the Store for Odds and Ends

If you just cannot resist the thrill of in-person back to school shopping, there are a couple tips to keep in mind that will help you stay within budget. First, making a Want List and a Need List. This will help you to stay on track and resist the urge to overspend. Second, don’t bring the kids. While back-to-school shopping can be fun and exciting, we all know how hard it is to say no to the littles. Leaving your kiddos at home will help you stay on task. Lastly, do your homework and have your coupons ready to go before you enter the store. A little research up front will let you know which stores have the best sales and deals.

With a new era of schooling unfolding right before our eyes, who knows what learnings lie ahead. No matter what happens, we do know one thing, preparing for your back-to-school shopping can save time and money. If you’re tight on funds, try the tips mentioned above. It’s always better to take control of the situation rather than feeling forced into overspending.

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