Money-Saving Hacks for Back-to-School Expenses

Back-to-school season is upon us! It’s an exciting time for the kids, but for parents, it can also mean a surge in expenses. But there are ways to survive this season without feeling so much financial stress. We rounded up these money-saving hacks to maximize your back-to-school budget:

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📚 Manage tuition fees. Be proactive in managing tuition fees by exploring scholarships, financial aid options, or setting up payment plans. There are grants, loans, work-study programs, and school-offered scholarships that can help lessen the burden.

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📝 Make a list. It’s common to buy school supplies in bulk because the extra items will be kept for future use. Search your home and you’ll likely see pens, paper, notebooks, etc. tucked away. You may also find tech essentials (e.g. flash drive, earphones) that can be reused. From there, you can list down the school supplies that you need to buy.

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🔖 Compare prices. Before you hit the shops, do your research online! Many retailers offer competitive pricing, and with a few clicks, you can find the best deals on textbooks, electronics, and school supplies. Online deals might not include everything so don’t forget to check in-store prices, too.

🛒 Shop online. If you’re looking for a more convenient experience, shop online. You can choose from a wide selection of products and easily compare brands and prices. While you’re at it, check out discounts, promos, and coupon codes for more savings. 

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💻 Buy refurbished tech. Most students need their own devices for remote learning and extended learning opportunities. You can keep tech expenses at a minimum by purchasing near-mint condition refurbished or barely used electronics like laptops, smartphones, and tablets. Make sure you buy from reputable sellers known for quality products or from the official online or physical stores of the brand, where open-box products are often sold at a discount. Look for warranties and check customer reviews to make informed decisions.

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🎒 Take advantage of student discounts. Look out for student-specific discounts and exclusive perks. There are a lot of sources from learning resources (Microsoft Office Suite, Google Drive, Zoom, Canva, Coursera), productivity apps, and more! 

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These budget-friendly strategies can help you manage back-to-school expenses and alleviate financial stress. For parents, this season is a perfect time to educate and involve your kids in planning and budgeting. Allow them to create their own shopping list that is within a budget. This will help them better understand the value of money and become mindful spenders.

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