Back-to-school season is ripe for poor spending decisions and often ends up as a “mall haul.” But it’s important to plan for it, because it’s the second-biggest spending event of the year, behind only the winter holidays.
The average American family will spend $606.40 on back-to-school shopping this year, compared with $548.72 last year, says the National Retail Federation.
The best spending advice is to start early, take inventory of what your children really need for school and make a shopping list. Then set a budget and stick to it.
We asked shopping experts for other back-to-school shopping tips. They include:
Don’t start from scratch. Students don’t necessarily need new backpacks, binders and lunchboxes every year. What can be repurposed from previous years or older siblings?
Check online: Internet shopping can be more convenient and save money. FatWallet.com, for example, regularly posts back-to-school bargains. Of course, shipping costs are always a concern.
Cherry-pick sales. Buy school supplies at “loss-leader” sales, usually advertised on the front and back covers of a retailer’s weekly sales circular. “Go in for that item and leave,” said Mike Allen, founder of ShoppingBargains.com. For example, Staples recently offered an eight-pack of Bic pens for a penny, with a minimum $5 purchase. It also offered Staples gift cards for the full price of purchased backpacks, essentially making them free. Office Depot will offer various sub-$1 sales on essential school supplies through the end of summer.
Software deals. Microsoft, Adobe and other companies offer discounted software for students. Some sites, such as AcademicSuperstore.com, specialize in student software.
Cell phone plans. The right cell phone plan will depend on use, but for just-in-case use, consider prepaid phones, where you buy minutes a la carte to add to the phone.
Used textbooks can be a bargain. College students and homeschoolers have far more choices for buying used textbooks than a generation ago, with such sites as Alibris.com, Half.com and eCampus.com. Students can also rent textbooks. For example, at Chegg.com, “The Science of Psychology,” by Laura King, costs $152.50 to buy new but is $31.94 to rent.
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