How to Maximize Back to School Savings
Updated: Oct 10
The moment that American parents have been waiting for is fast approaching...our kids are going back to school! While back-to-school may elicit feelings of euphoria, the budget-balancing part of our brains might be saying, how much is this all going to cost?
Fortunately, just because our kids are going back to school doesn't mean we need to spend a fortune. There are plenty of ways to save money on unnecessary expenses. The trick is knowing how.
5 Easy Money-Saving Tips for Back-to-School
For kids, there's nothing more exciting than going shopping for back-to-school items like new clothes, shoes, accessories, even the more boring things like notebooks, binders, and pencils.
Here's how parents can encourage their kids' excitement and, at the same time, not break the bank.
1. Get Money Back OnlineWhen you shop online, you can sign up for rebates that give you cash back for every order. Rakuten, Ibotta, and BeFrugal are some of the top cashback sites that reward you for shopping at your favorite stores (or your kids' favorite stores).
2. Sign Up For Rewards ProgramsMany stores offer rewards programs that are free to join. By joining these programs, you can get access to the best in-store sales, cashback, and personalized coupons.
3. Check What You Have Before You ShopChecking to see what you have before going to the mall is an easy way to save money (and clean out your drawers at the same time). While you may not have new clothes in the latest styles tucked away, you might find basics like socks, undershirts, notebooks that were never used, etc.
4. Buy Refurbished/Open BoxIf your kids need new devices for school, buying refurbished or open-box phones and laptops can save you hundreds of dollars. Many refurbished items come with a guarantee or certification, while open box items are electronics that have been opened but returned. Depending on where you shop, there are different levels of open box, like Excellent, Fair, etc. Even if you buy just one device this way, you can save a lot. (And no one needs to be the wiser.)
5. Don't Rush to BuyWhile school supplies are usually on sale in July and August, you can get better deals on clothes if you wait until September. After all, your child doesn't need an entire new wardrobe for the first day, just one new outfit. The rest can be bought in September. If you really want to plan ahead, you can even buy summer clothes for the next year.
Saving Can Be FunSaving money doesn't have to be a bummer. In fact, there's nothing quite like the rush of getting a good deal and then telling all your friends about it! So if you're able to shop wisely AND get the things your kids want, it's a win-win situation.
If you're looking for non-school-related ways to save money, buying life insurance when you're young is a good way to do it. In fact, buying life insurance when you're young and healthy can save you thousands in premiums over the course of your policy.
Sproutt insurance advisors are available to help you determine what kind of life insurance is best for you. Simply answer a few questions and we will find the best-value plan for your lifestyle, needs, and budget.