If your kids are about to go back to school, you may be left reeling in shock after seeing the back-to-school supply list that was just sent out. When you pile on other things like food, fees, and school uniforms, you’re probably left wondering how you’re supposed to make it all work.
While budgeting for the school year is definitely a challenge for some, it doesn’t have to be stressful the whole way through. Let’s talk about five tips on budgeting for the school year, and see if life can’t be simplified slightly.
1. Work Out Your Budget – and Inventory
Not only is it essential to work out your budget and what you have to spare, but it’s also vital that you figure out what supplies you already have. If you haven’t done a cleanout since last year, you may find that you already have items like folders and notepads.
Make sure to always go through your kid’s old supplies, so that you can make an accurate inventory of what you’ve already got. This will help you narrow down what it is you really need to spend money on, and what you can save.
2. Shop on Sales Tax Holidays
Something you may not be aware of is that there are sales tax holidays every now and then. This is when you don’t have to pay any sales tax on school supplies and clothing, which, of course, is going to make them a lot more affordable.
Make sure you do your research and find out which states offer these discounts, because it may not be yours. If it’s the state next door, you could always embark on an impromptu road trip for the weekend.
3. Consider a Short-Term Loan
If you’ve worked out your budget for school supplies this year and you’re still coming up short, you may want to consider taking out a short-term loan. The good news is, there are a lot of refinance title loan and personal loan options available that won’t cost you too much in interest.
They are also easy to apply for and often have flexible repayment options. This means that you can get everything your kids need to start the school year off and think about paying it back at a later date.
4. Buy Things in Bulk
A general rule is that the more you buy something, the cheaper it is. This may not apply to all products, but when it comes to things like school supplies, there are quite a lot of options. There are also many different bulk buy options when it comes to your kid’s lunches, too.
For example, Sam’s Club is a grocery store that offers great discounts if you purchase more of an item.
5. Pack Those Lunches
Sometimes, it’s easier to give your kids money for their lunch than to make it. However, when you break this down, you’ll realize that you actually end up spending more when you give them the money than when you pack their lunch.
Make the most of those bulk products you just purchased, and send your kids to school with packed lunches.
It’s never easy getting back into the school year – especially if you don’t think you’ll be able to afford all the school supplies. Luckily, there are some clever, effective ways like the ones above to make sure that you’re covered.
About The Author:
Aqib Ijaz is a digital marketing guru at eyesonsolution.com. He is adept in IT as well. He loves to write on different topics. In his free time, he likes to travel and explore different parts of the world. You can read more of his blogs at eyesonsolution.