Your kids’ backpacks are bulging, your after-school schedule is filled to the brim. But…your checkbook is nearly empty.
Yes, school begins with a bang–or sticker shock–every fall. In fact, retailers consider it the second biggest shopping event of the year, right behind Christmas. Spending for the 2011 school year will be almost $23 billion, billion with a “B.” A family with kids in K-12 will spend an average of nearly $604 on school supplies, clothing and electronics, according to the National Retail Federation’s 2011 back-to-school survey. And, 9 in 10 parents said the economy would impact their back-to-school shopping.
Congratulate yourself if you’ve be able to stay within budget this fall…and then watch out. Yes, watch out for those extras that nickel-and-dime you as activities and classes really kick in gear. The extra book, the fundraiser, the team t-shirt, even the posterboard for that science project.
Here are 5 money-saving strategies to help lessen the blow.
1. Make choices.
3. Frugal is in.
4. Borrow and exchange.
What are your best tips for saving money this school season?