The True Cost of Back-to-School Supplies Metadata

United States By Christy Lowry October 30, 2023

The true cost of back-to-school supplies

“Back-to-school” doesn’t just mean backpacks, notebooks, and computers. It includes extracurriculars, school pictures, meal plans, and a slew of other items beyond those initial staples. For some, it may even mean college tuition, housing, and study abroad expenses.

How to budget for school supplies

You’re crunching numbers to keep up with the growing cost of school supplies, and you’re not the only one. Buying school supplies is not just a chore, it’s also a yearly ritual that hypes up kids for returning to the classroom. When you let your child proudly pick out a backpack to fill with books, you bolster their excitement for learning. Knowing the importance of back-to-school shopping makes setting boundaries harder when you’re on a tight budget.

The key to saving money on school supplies is planning and shopping early. Use these tips to get more bang for your buck when shopping for school supplies:

  • Shop sales and spread out shopping trips. Stores set an item at a large discount because they count on customers to buy more once they’re through the doors. While it may feel satisfying to check off an entire shopping list in one spurt, you truly benefit from a deep discount when you just buy the item on sale, then leave before purchasing anything else at full price. Start shopping early to take advantage of these sales.
  • Buy in bulk. Team up with other parents and buy staple items in bulk at a discount. Similarly, you can buy in bulk for just your home, and use the extra items next year.
  • Shop on tax-free days. Many US states feature tax-free days on clothing and school supplies. Find out if your area has any of these days and take advantage of them.
  • Teach thriftiness. If old enough, teach your child the value of saving money by bringing them into the budget conversation. Together, you can get creative to reuse last year’s items, borrow items, and shop secondhand while teaching a life lesson.

Saving for extracurriculars

Activities and hobbies play an essential role in your child’s development. They teach coordination, creativity, teamwork, friendship, and a wide array of skills that form who your child is and who they grow into. Extracurriculars also come with a price tag that parents must budget for. Fortunately, a budget-savvy parent can sign their child up for extracurriculars this school year without breaking the bank. Use these tips to financially plan for extracurricular activities:

  • Look for financial assistance. Many organizations offer scholarships, grants, and subsidies to families who cannot afford extracurriculars.
  • Talk to the instructor or coach. They may work with you to come up with affordable options like group lessons or shared instruments to bring down the cost.
  • Buy or borrow used equipment. While buying a brand-new baseball mitt or violin is fun, it may not be necessary at your child’s skill level. Seek out secondhand equipment from stores or other members in your community.

Plan to pay for surprises

Just when you thought you’d planned for everything, your kid comes home the first week of school with surprise expenses. Always prepare for the unexpected. Set aside some cushion money in your budget for the extra expenses that spring up in the school year, such as:

  • School pictures
  • Meal plans
  • Field trips
  • Transportation
  • School pride clothing
  • Dances and social events

Get help with back-to-school supply costs

If you’d like to assist those you love with some of these intense back-to-school costs, Western Union can help. Transfer money with the easy-to-use Western Union money transfer app or make an online money transfer. Western Union makes transferring money fast and simple so your family can prepare for what’s next.