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How To Avoid Overspending And Save Money On Back-To-School Shopping

How To Avoid Overspending And Save Money On Back-To-School Shopping

It’s time to go back to school for a lot of kids and adults. That means it’s time to go get the pencils and pens, backpacks and shoes, and re-evaluate the old wardrobe. It can be an expensive time of year for parents and college students alike so here are some ways to do back to school shopping the smart way.

1. Wait for the end of the summer sales

Sales are a beautiful thing and the end of the summer usually gives you a lot of options of stuff to buy. Usually this is more for things like shoes, backpacks, and cloths. Many stores will have specific back to school shopping sales for school supplies too. You may have to wait into the first few weeks into the school year to find the sales, but they are there and patience is a virtue.

2. Anticipate by buying early

back to school shopping

    Your kids may need a new winter jacket or some new jeans. The best time to buy that stuff is during the opposite season that you’ll actually need it. A lot of stores will deeply discount these items during the spring or summer because people don’t normally buy winter jackets in the spring or summer. Buy them early enough and you can save yourself a pretty penny heading into fall. You can also get sales on school supplies like this sometimes if you keep an eye out.

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    3. Shop during your state’s tax free weekend

    There are 17 states that allow you to shop for school supplies tax free for a weekend to help you save money for the upcoming school year. You wouldn’t think that it’s a lot but if you’re shopping for two or three kids or you’re buying some new computer equipment, those costs (and therefore those taxes) can add up quickly. For a full list of states that do this every year, check this link. Sadly, many states have already had theirs but yours could still be upcoming and this is still valuable information for next year.

    4. Don’t buy in bulk

    Buying in bulk is a double edged sword. On one hand, you get a lot of stuff and the price per item is typically less than if you bought that item separately. On the other hand, you have to spend extra money to get things in bulk. In some cases it makes sense. Getting a $10 box of 50 pens is a great idea. Spending $20 on ten 3-ring binders or $30 on 15 spiral notebooks is a horrible idea. Unless you have six kids, you can usually save money on buying individually for most items.

    5. Donate or sell items you intend on discarding

    When you upgrade your (or your kids’) wardrobe, that means there are cloths that need to go. Instead of tossing them, you can sell them in a garage sale or at a second-hand store. This can earn you a few bucks to offset the money you just spent on newer cloths. Of course, if you’re well off, you could always donate them to charity too. Just a though.

    6. Find the free (or cheap) software for your computer

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    back to school shopping

      With school comes the need for some software. You (or your kids) will be writing essays, doing presentations, research projects, and all sorts of other stuff. Much like cloths, software goes on sale fairly frequently. There are also people who simply don’t need that much. You don’t need to spend $200 on Microsoft Office if your kid only needs to write the occasional school paper. Something like Google Drive (free) will work just as well. Many software vendors will have huge sales or even give away expensive software for free to college students. Just ask your college advisors or check sites like DreamSpark. Also, make sure you double check with schools before buying any software. You don’t want to fork out money for something you don’t need.

      7. Don’t spend too much on cloths

      Fashion is a fickle thing and shopping for all of the school cloths over the summer is usually a bad move. When the school year stars, new trends will happen and you (or your kids) may need a small update here and there to stay en vogue. If you spend less on cloths during the summer, you’ll have more on your budget to augment your style over the course of the fall and winter so you stay in style. Of course, that only applies if the current trends matter to you. Otherwise, some jeans, a t-shirt, and a jacket are still a solid way to go.

      8. Shop online

      Brick and mortar stores aren’t the only places that have back to school sales. Amazon, eBay, Newegg, and other online retailers often have similar sales for going back to school. You can find a surprising assortment of useful school items for relatively cheap online. Especially at places like Newegg where you can get a decent laptop for hundreds of dollars off if you don’t mind refurbished machines.

      9. Don’t give in to peer pressure

      According to a poll, the majority of parents feel peer pressure to buy things their kids don’t need because other parents bought their kids things. Don’t subject yourself to that nonsense. You and your kids’ school know what they need. If you have the budget after buying the essentials, then maybe spend a couple of bucks to buy your kid the cooler stuff that they probably don’t need but don’t feel like you have to do it. A pen is a pen, a 3-ring binder is a 3-ring binder. Dropping an extra $15 on it because it has Groot on it is absurd.

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      A much more cost effective (and fun) idea is to get things that are solid colored and then print out pictures and images of popular characters. Allowing your kids to customize their own stuff allows them to create what they want instead of buying something for two or three times the cost. It can save money and sometimes it looks even better than the store bought stuff.

      10. Look for student discounts

      We’ve mentioned it a little bit in earlier parts of this list, but student discounts are everywhere. Software sites like DreamSpark offer deeply discounted (or free) software for students. Many colleges have deals with software sellers to get you things like Microsoft Office for a deep discount (or free). Some brick and mortar stores will give you discounts if you show a student ID. They’re not everywhere but if you can find them, they do add up.

      11. Raid the coupon websites

      These days the best coupons are online. One of the the more popular coupon sites is RetailMeNot. By raiding the online coupon sites, you can find deals that people normally wouldn’t find in the newspaper coupons or in-store sales. Every dollar counts and coupons are a great way to make that money stretch.

      12. Offer your kids a bargain-reward solution

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      back to school shopping

        A fun strategy some parents use is allow their kids to bargain shop. If they can get all of their supplies in under a certain budget, you then reward that by letting them get a must-have item (almost) regardless of the cost. That puts the savings in the kids hands and allows them to choose what to cheap out on. You get to spend less and they don’t get mad at you for choosing cheap stuff for them. That’s a win-win.

         

        Back to school shopping is a yearly event. Once you figure out a plan that works for you and your kids, the next year gets easier because you already know what to do. Best of luck!

        Featured photo credit: Teaching Happily Ever After via teachinghappilyeverafter.blogspot.com

        More by this author

        Joseph Hindy

        A writer, editor, and YouTuber who likes to share about technology and lifestyle tips.

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        Last Updated on January 21, 2020

        How to Develop a Millionaire Mindset in 6 Simple Steps

        How to Develop a Millionaire Mindset in 6 Simple Steps

        We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

        It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

        How do you go about developing that millionaire mindset? By following these simple steps:

        1. Focus On What You Want – And Take It!

        So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

        Millionaires play to win, not to avoid defeat.

        This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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        2. Become Goal-Orientated

        It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

        Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

        Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

        Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

        You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

        If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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        If you are to become a millionaire, you need to start accumulating money.

        Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

        3. Don’t Spend Your Money – Invest It

        The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

        Stop working for your money and make your money work for you.

        Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

        There’s not just the stock market — there’s also property, and your own education.

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        4. Never Stop Learning

        The best thing you can invest in is yourself.

        Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

        Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

        Learn everything you can about how economics works, how the stocks markets work, how they trend.

        Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

        Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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        5. Think Big

        While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

        There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

        Aim for the stars, if you fail you’ll still be over the moon.

        6. Enjoy the Attention

        To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

        Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

        If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

        Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

        More About Thinking Smart

        Featured photo credit: Austin Distel via unsplash.com

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