Getting ready for back-to-school
on a tight budget

School supplies, new clothes and shoes, extracurricular activities, day care, transit passes, parking – going back to school is expensive. This year especially, with the significant increase in the cost of fuel and food and talk of a recession by numerous experts, many people are wondering how they’ll manage to cover all these costs. Obviously, the best approach would have been to plan for back-to-school in your annual budget. Setting money aside throughout the year helps avoid unpleasant surprises. If you don’t have a budget or didn’t adjust it for inflation, it’s time to see how much you’re going to need for back-to-school. You’ll have to be creative this year to reduce your bill. Here are some tips to help you do just that.

Reuse last year’s supplies and clothes

Whether it’s for you or your children, there’s no need to keep looking for something new. School supplies in good condition can be reused and save you money. The same goes for clothes: check to see if your wardrobe or your child’s is still in good shape and reuse last year’s outfits. If you have children of different ages, sort through school supplies and clothes and pass on what one child no longer needs to another one.

Go through the flyers and do some comparison shopping

Big-box stores and drug stores always have back-to-school sales. You can get an idea about prices by going through the flyers. Go for the house brands. Check out the stores’ websites, you often find good deals. Lastly, consider redeeming your loyalty program reward points for your purchases.

Avoid bulk purchases

You often get the impression you’re saving by buying in large quantities. But if the items never get used, these purchases will not pay off.

Make the whole family aware of the cost of living

Take this opportunity to make your children aware of waste and the upside of being a smart consumer. Get them involved in your shopping, insist on the importance of sticking to the school supply list (and not buying the trendiest items) and your budget. By talking about these key issues when your children are young, you’re helping them develop sound financial habits.

When it comes to teens and young adults, teach them how to make a monthly budget. How much do their sports activities cost? What about going to the movies or restaurants? Their purchases? If their expenses are high enough, could they consider getting a part-time job? All businesses are looking for staff in these times of worker shortage. Working a few hours a week can be very educational for a young person and help them build a resume while gradually achieving financial independence.

In short, despite the difficult economic context, if you’re a bit clever and plan ahead, you’ll be able to do your back-to-school shopping without going over your budget. You should be aware that, each year, the Quebec government pays a supplement for the purchase of school supplies. You should have received it.