The school summer holidays are in full swing but every savvy parent knows that it’s never too soon to start gearing up for back-to-school season.
While it’s an exciting time for students to reconnect with friends and embark on new educational journeys, it can also be a financially challenging time for many households, especially as the preceding weeks can often be very expensive themselves.
So how can people reduce the financial burden and make the back-to-school season more affordable?
Plan ahead.
One of the most effective ways of reducing the cost of sending your child back to school is simply to plan ahead.
By making a list of all the essential items your child will need for the upcoming academic year early, you’ll have more time to search for deals, compare prices and take advantage of sales.
Your list should include school supplies like pens and pencils, uniforms, textbooks, new technology and other necessary expenses. If you want to make sure you haven’t forgotten anything, have a look on your child’s school’s website – many schools publish a list of what essentials are necessary for pupils each year to make your task a little easier.
Look out for second-hand sales.
Lots of schools and communities host second-hand sales or exchanges where parents can buy and sell gently-used school uniforms, books and other essentials, so get on social media and find out if any events are taking place near you.
These events can be a goldmine for cost-conscious parents, as they offer quality items at a fraction of the original cost. By participating in these sales, you not only save money but also contribute to sustainable and eco-friendly practices too.
Be aware of deals and discounts.
Keep an eye out for deals and discounts from various retailers and online platforms. Many stores offer back-to-school promotions and buying in bulk can sometimes result in significant cost savings.
Using cashback apps or rewards programs to earn extra savings on your purchases is a great idea too.
Contact your local credit union.
Credit unions are committed to supporting the communities in which they operate and providing financial solutions to their members. When it comes to back-to-school expenses, they can offer people small, affordable loans with competitive interest rates and flexible repayment terms to help people cover the cost.
They can also provide access to dedicated savings accounts which can be used exclusively for back-to-school expenses. By depositing a small amount regularly throughout the year, you’ll have a substantial sum saved up when the back-to-school season arrives, reducing the need for last-minute panic buying.
Credit unions can also provide money and budgeting services to help households make the most of their resources during the back-to-school season. By setting a realistic and affordable budget, people can more easily resist the temptation to overspend on non-essential items, while involving your child in budgeting discussions can also be an excellent way to teach them about money management from an early age.
How Leeds Credit Union can help.
Sending your child back to school doesn’t have to break the bank. By planning ahead, budgeting and taking advantage of second-hand sales, deals and discounts, people can reduce the financial strain and make the back-to-school season more manageable.
For more information about the ways in which Leeds Credit Union can help, click here.