Summer is almost over, which means it’s time for all the kiddies to get out of the house and back in the classroom. It also implies that it’s time for you to do some back to school shopping. Fretting about your finances? Check out these tips about how to go back to school on a budget.
The impending spending spree that often accompanies back to school shopping can be stressful. In fact, parents shell out an average of $606.40 in 2009 on clothes, shoes, supplies and electronics for school-aged children in grades K-12, according to The National Retail Federation.
But the stress is because of more than just money. A few different studies report that much parental anxiety about school shopping occurs because of a desire to satisfy the needs of both their child and the school.
Psychology indeed plays a part in everything we buy.
Parents who buy their children more than the expected supplies of notebooks and folders, pencils and pens – more expensive things like new clothes, shoes, cell phones and backpacks – are supposedly motivated by a desire to make their kids feel confident, secure and hip, according to USA Today. And because parents can’t actually be at school to protect their children from bullies in the cafeteria and loneliness on the playground, parents often buy things in an attempt to shelter their kids and, as a consequence, feel more connected and in control of what happens in their childrens’ lives while they’re at school.
Shopping thus becomes an interesting form of preparation. For example, when we prepare our children for college by buying things for their dorm room, we are envisioning what their life will be like using all that stuff and it allows us to feel less stressed about how our kid’s life will be without us.
And, we already know that shopping makes us feel good, especially if you’re spending it on others, like your children.
The pressure is not only from kids, however. With schools all over the country minimizing budgets and cutting spending because of the recession’s impact on property and sales-tax, parents are now being expected to foot the bill for things like paper towels, garbage bags and soap, according to The New York Times. In most cases, if parents can’t or won’t come up with the necessary cleaning supplies, than teachers will have to.
It’s as if two different hands are pulling parents down the same road: the road toward spending. Prompted either by the urge to help your child or the guilt of knowing that schools are in dire need of funding, parents are most likely going to give even if it happens to be a financially unwise decision.
Back to school lists continue to get longer, while the decision to be prudent or frugal continues to be complicated. The question then is how do you weigh the aspiration to help against a limited income?
Set a budget
If you’re going to be spending on some school supplies anyway, your best bet is to go in knowing how much extra you’re willing to contribute. This way, overspending becomes a choice that’s budgeted in with the rest of your expenses.
Using a free budget planner at sites like /a> also enables you to keep a keen watch on your spending and help maintain order in your finances.
Know your main concerns
Understanding that you can’t give as much as the school is asking or as much as your child would like, you’re better off recognizing what and where your purchases will make the most sense and have the biggest effect. Perhaps your child doesn’t need a backpack with iPod capabilities when their current backpack is in fine condition.
Also, many school supply lists often have categories like “mandatory” or “optional.” I’d expect garbage bags, tissues and soap to most likely be optional purchases. So if it helps reduce stress, think of these things more like a donation.
Volunteer
Time is also money. Volunteering in the classroom, the cafeteria or the playground is almost certainly the best way to contribute to your child’s school life without spending a dime.
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