BACK TO SCHOOL SAVINGS TIPS FROM A FINANCIALLY SAVVY PROFESSOR

Living on a Budget

Aug 24

Today's post is a guest post from Carly @ Momleficent.com

Hi, Carly here from Momleficent.com. I am a working mom with small children who is making a desperate attempt at work life balance. I am a Professor at a University in the South East by day, and mom of two amazing but rowdy angels by night.

I have also been a public school teacher in a previous incarnation of my career. Given the experience I have in education, I have picked up a few tips over the years that may be beneficial to those of you looking to minimize those pesky back to school expenses now.

Now that that start of a new school year is looming, many of us who have school age children are finding ourselves facing list after list of supplies. I know that my school tries to be very conscientious of what they request, but we still spend a ton at the start of the school year. In addition to the standard required supplies, we have book bags, lunch bags, and the most costly uniforms.

School Supplies

I save money back during the rest of the year for a few different events. Christmas, birthdays, and back to school. I know the last one is not the norm, but I have found that if I stock up while school supplies are a penny or quarter during back to school, I can use crayons and markers as stocking stuffers and birthday fillers, construction paper and art supplies in our rainy day box.

Most importantly, when Tiny fills her reading journal and needs another, I have one on hand that I picked up for 50 cents (they use composition books) rather than paying $2.00 during the remainder of the year. If you find that you can, teachers always appreciate a few additional resources to spread around for the kids that can’t afford supplies. As a teacher, I know exactly how much money I spent out of pocket to make sure that every child in my class had the tools they needed to learn.

It is going to save you money over the course of the year to have a few extra notebooks, folders, pencils, crayons (I swear my kids must eat them!) and other supplies to replace the ones mid year that are worn out.

School Gear

It is overwhelming to walk the isles of your local box store and see the different lunch bags, book bags, and all of the school gear that is on the shelves. Go in with a plan. Tiny and I have an arrangement. She gets to pick out a quality backpack (read that as more expensive) that she really loves, but it has to last her for two to three years. How do I make that work? I don’t buy the cheap ones.

If your kids books are like mine, they weigh as much as she does! Shopkins bags are cute, but are not going to make it past Christmas. I shop at North Face outlet, Vera Bradley outlet, and use coupons to stack on top of after Christmas and back to school sales to get large backpacks for reasonable prices. Again, the operative word is outlet. I don’t buy retail, and I don’t buy if it isn’t at least 50% off. That means being strategic about your purchase. I have found that spending more on the front end saves me money over the course of time.

I spent $45.00 for a large backpack and $15.00 for her matching lunch bag from the Vera Bradley outlet.That was TWO years ago, and the bag is still in excellent shape! They wash well and are made so well that we still have her bookbag from 1st grade that we use for travel (we had to upgrade to a larger one when she hit 3rd grade). Invest in well made products that will last rather than caving to cute but cheaply made products that you are going to replace at least twice per year–costing you more over the course of a single school year.

Electronics are another area where I suggest investing in quality rather than buying the cheapest item on the market. Make sure you know what your child is going to need to do with the item before you purchase. Recently, we purchased a laptop for Tiny. I bought a well made Dell mid grade option. Why not the best? First, cost. I’m not shelling out $800 for a 10 year old’s lap top. Second, she isn’t gaming, video editing, or other functions that require that type of power.She needs to log onto e learning platforms, stream educational videos, and word process. I want one that will last a few years, but not one that is going to be more computer than she needs. The same goes for tablets, phones, and even graphing calculators. Shop sales, know what they need the device for, and set up parental controls!

Uniforms and School Clothes

My oldest has just entered 5th grade and is growing like a weed. While I would love to use the same uniform parts as last year, I know that she is going to outgrow them by Christmas.

While back to school sales are in progress, you can get Old Navy uniform polos for $5.00, pants for $10.00, and leggings for $5.00. While I could stop at a week’s worth of uniforms and spend about $75.00, I like to think ahead. Buy now for winter while long sleeve polos are also on sale, long pants are cheap, and sweaters and vests are readily available. I usually spend about $250.00 on uniforms at the beginning of school, but that is an entire year’s worth of clothes!

For those of you who do not have a uniform policy, I highly suggest quality children’s resale shops. I have a couple that I frequent for Teeny (he is in preschool and does not have a uniform policy), and weekend clothes for Tiny.

I drive about 20 minutes down the highway to a really affluent area to do my shopping because the selection is way better!

I love getting Polo shirts and Tommy Hilfiger slacks for $2.00 to $3.00 each. My kids are better dressed than I am for a fraction of the price. Rarely do I buy clothing retail for the kids. They outgrow clothes so quickly that the selection in quality resale shops is excellent without taxing your budget.

Planning for College now, for those of us who have small children, you may not be thinking about middle school, much less college. That needs to change! According to the College Board, in 2017-2018, the average cost of college tuition and fees was just shy of $10,000 per year. PER YEAR!

That doesn’t include room and board, supplies, clothes, equipment and transportation. I don’t know about you, but I don’t have an extra $10,000 to spare this year. I have a feeling that isn’t going to change by the time Tiny graduates. The best thing you can do for your child’s future is start a college fund.

This can be a savings account, bonds, etc. My recommendation is a 529 savings plan. You can contribute small amounts each month, tax free, that add up over time. Even if you start saving late, you will at least have a jump start that minimizes student loan debt. A debt free start in life is the best graduation gift you could possibly give your kids.

Planning for College

Now, for those of us who have small children, you may not be thinking about middle school, much less college. That needs to change!

According to the College Board, in 2017-2018, the average cost of college tuition and fees was just shy of $10,000 per year. PER YEAR!

That doesn’t include room and board, supplies, clothes, equipment and transportation.I don’t know about you, but I don’t have an extra $10,000 to spare this year.

I have a feeling that isn’t going to change by the time Tiny graduates. The best thing you can do for your child’s future is start a college fund.

This can be a savings account, bonds, etc.

My recommendation is a 529 savings plan. You can contribute small amounts each month, tax free, that add up over time.

Even if you start saving late, you will at least have a jump start that minimizes student loan debt. A debt free start in life is the best graduation gift you could possibly give your kids.

About the author

Carly is the owner and blogger behind www.momleficent.comPlease go check out her website and let her know Saving Joyfully sent you.You can find her on these social networks