5 Ways to Save on Back to School

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5 Ways to Save on Back to School

It sure feels like school just ended so you may be wondering why we are already thinking about back to school.

by Shelley Koehli, CIRP, Licensed Insolvency Trustee of D. Thode & Associates Inc. based in British Columbia. Members of CAIRP -  a non-profit corporation  to advocate a fair, transparent and effective system of insolvency/restructuring administration throughout Canada.

Original Blog on CAIRP

In preparation for the rush at the end of August to ensure you have everything your kids need, let’s take a look at 5 ways to save on back to school.

1. Inventory

What supplies do you already have lurking in that old pencil case, or that junk drawer? Depending on the age of the child, certain items can be reused year after year, assuming it’s not lost. Think calculators, scissors, rulers. See what backpacks and lunch bags still have life left, and can be reused for the coming school year. Get your kids to go through their closet to see what clothes still fit and what will need to be replaced.

2. School List

Some schools do a list of what you need to purchase, and others do bulk purchases and the parents simply pay a flat amount for all supplies. The latter sure makes life easier for the basic supplies.

Once you have your list, check your inventory from #1 above and make your shopping list. The earlier you make this list the better as you can start budgeting the cost.

3. Sales

Keep your eye on the flyers, sign up for alerts from your favourite stores. Also know which stores price match so you’re not running around to 2 or 3 different shops. Lastly, check store prices against online retailers to ensure you are getting the best deal.

D thode & Associates Inc.

Back to School

4. Buy and Sell Groups

There are many online groups, especially within Facebook that allow you to purchase used goods from other parents. Keep an eye on these sites for good used condition items like clothing, back packs and other supplies. Just make sure you are getting a good price. Check the item online to see what the retail price is to ensure you are getting a deal.

5. Shop throughout the year

Keep an eye out for end of season sales where you can stock up on clothing for the following fall, winter, spring and summer. Keep a drawer and a portion of your child’s closet to store the items until they fit. If you see an especially good price on something you know you will need the next school year, grab it. Just don’t forget that you have these items tucked away and include in your summer inventory each year.

For more budgeting tips follow our Budgeting Challenges Series

Shelley Koehli, Consumer Proposal Administrator and Licensed Insolvency Trustee working in the insolvency industry since 1995 and received her license in 2008. Shelley enjoys working with individuals and families to find the right solution to your financial problem. Shelley takes pride in ensuring you fully understand your options before making your decision.

D thode & Associates Inc., Out of Debt

Shelley Koehli