According to the National Retail Federation, the average family with children in grades K-12 will spend $630 on apparel, shoes, supplies and electronics in 2015.* While spending is down from 2014, the expense is still a great burden on many families. Here are four tips to help you save money and make those expenses easier on your budget.
- Recycle Old Supplies. Before shopping, take inventory of supplies leftover from last year (don't forget to check your child's backpack from last school year). Develop your shopping list based on clothing and supplies you already have.
- Make a budget. Review your list, scan the ads and determine how much you're willing to pay for each item.
- Plan for ongoing school expenses. Remember all of those sports activities, field trips and classmate parties that caught you off guard last year? Set up a small $20 payroll deduction to your You Name It Savings. You'll not only earn interest, you can easily transfer last-minute funds to your checking whenever you need to. And don't forget lunches. Designate two days a week as bag lunch day. You'll save money and pack a healthier lunch than your child might choose at school.
- Shop online. Save gas and money when you research and buy the best deal online. You will often find coupon codes unique to online stores when you do a simple Google search. Plus, use your Rivermark Platinum Visa to enjoy zero liability on unauthorized credit card transactions.
Now that you're ready to save, go out and tackle the next school year - we hope it's a great one!