Are You Ready for Back-to-School Season?

As summer winds down, it's time to prepare for a new school year and all the expenses that come with it. Whether you're a student, a parent, or an educator, it's important to approach the new academic year with financial awareness. Here are some tips to help you make smart financial decisions as you get ready for back-to-school season:

• Create a budget: Take stock of all the back-to-school expenses, including school supplies, clothing, technology, and extracurricular activities. Create a budget that aligns with your financial situation using our Money Basics Guide to Budgeting and Savings and stick to it as you make your purchases.
• Look for deals: Take advantage of back-to-school sales and discounts to save money. Check if and when your state has a sales tax holiday for school items. Consider shopping at thrift stores or using online marketplaces to find gently used items at a fraction of the cost.
• Consider second-hand options: For items like textbooks, uniforms, and sports equipment, consider buying second-hand to save money. You can also sell or trade items from the previous school year to offset the cost of new purchases.
• Plan for the future: As you prepare for back-to-school expenses, consider setting aside some money for future educational costs, such as college savings or extracurricular activities.
• Teach financial literacy: For parents and educators, back-to-school season is an opportunity to teach children about the importance of financial responsibility. Make financial literacy a family affair with our monthly activity calendar that makes learning about money fun for kids and parents. Encourage them to participate in budgeting and saving to instill good financial habits.

Remember, being financially prepared for back-to-school season can help reduce stress and ensure a smooth transition into the new academic year. By planning ahead and making informed financial decisions, you can set yourself up for a successful school year without breaking the bank.