The back-to-school season is approaching, with US adults planning to spend an average of $662 on supplies. Many have already set aside money for shopping, showing a proactive approach to financial planning. Savings methods include sales, discounts, coupons, and price comparison shopping. Some shoppers may consider using credit card debt or payment plans like Buy Now, Pay Later. Experts recommend budgeting, taking advantage of tax-free weekends, and keeping an eye out for sales to reduce costs.
Parents and students are expected to spend $662 on back-to-school supplies, with the rising demand for tech products contributing to higher costs. Most shoppers are utilizing sales, discounts, and coupons to save money, along with price comparison shopping. Recommendations include shopping at second-hand stores, taking advantage of state tax-free weekends, and looking out for sales from retailers. Planning in advance and budgeting can help avoid accumulating debt.
Many Americans are using money they’ve budgeted for back-to-school shopping to cover the costs. This proactive approach to financial planning is seen as a positive trend by experts. While some shoppers may opt for credit cards or payment plans, most are planning not to finance their purchases this year. Additionally, some are using credit cards strategically as part of a larger payment strategy while planning to pay off their balances in full.
Back-to-school tech products can be expensive, but there are ways to save money. Shoppers are advised to hold off on full-price purchases, check for discounts through wholesale clubs or school offerings, and consider refurbished options from reputable sources. Avoiding knock-off tech products and being mindful of return policies and warranties are also important. Experts emphasize the importance of making a list, setting a budget, comparing prices, and avoiding impulsive spending to save on school supplies.
If affordability is an issue, reaching out to the child’s school and teachers can provide assistance through uniform coupons, layaway plans, and connections to nonprofit organizations or donation drives. Communicating with teachers to clarify required supplies can also help avoid unnecessary expenses. Shopping in phases and reusing items can help offset costs. Planning for next year’s expenses by opening a separate savings account and saving small amounts regularly can also help manage costs.
Overall, the back-to-school shopping season is underway, with US adults preparing to spend on supplies for the upcoming school year. By utilizing savings methods, strategic approach to financial planning, and seeking assistance from schools and teachers, families can navigate the costs associated with back-to-school shopping effectively. As the demand for tech products rises, it is essential to explore cost-saving options and make informed decisions to ensure a smooth back-to-school experience.
