Smart Back-to-School Budget Tips
As summer winds down and the school year approaches, excitement builds—for students and parents alike. But let’s face it: back-to-school season can also bring financial stress. From school supplies to new clothes and extracurricular costs, the expenses can add up quickly.
To help you prepare without breaking the bank, Monson Savings Bank is sharing practical tips to make your back-to-school budgeting smoother and more effective.
1. Start Saving Early
Open a dedicated savings account and contribute a small amount each month throughout the year. By the time school shopping rolls around, you’ll already have funds set aside.
Pro Tip: Create separate savings accounts for specific needs—like school supplies, clothing, or sports fees—to stay organized and on track. Open a savings account with Monson Savings Bank.
Get started with a Monson Savings Bank Savings Account.
2. Review the School Supply List
As soon as your child’s school releases the supply list, take inventory of what you already have. You might be surprised how many items—like binders, folders, or calculators—can be reused from last year.
3. Build a Realistic Budget
Once you know what you need, set a budget that includes more than just supplies. Don’t forget about:
- Clothing and shoes
- Sports and club fees
- Tech accessories
- Lunchboxes and backpacks
Planning for the full school year—like spring sports or winter gear—can help you avoid surprise expenses later.
4. Reuse, Donate, or Recycle
Reusing supplies is not only budget-friendly, it’s eco-friendly too. If you have items in good condition that you no longer need, consider donating them to local schools or shelters. Recycle what you can’t reuse.
5. Sell What You Don’t Need
Got gently used backpacks, uniforms, or supplies? Sell them on platforms like Facebook Marketplace, eBay, or OfferUp. The extra cash can go toward this year’s purchases.
6. Shop Secondhand
Thrift stores and resale websites are goldmines for affordable school gear. You’ll save money and reduce waste—win-win!
7. Avoid the Rush
Try shopping at the end of the school year for next year’s supplies, or wait until the first or second week of school when prices often drop. Retailers tend to hike prices during the back-to-school rush
8. Use Coupons and Hunt for Sales
Watch for deals and use coupons whenever possible. Even small savings add up quickly when you’re buying in bulk.
9. Take Advantage of Student Discounts
Many retailers offer student discounts—just ask! Be sure to bring a valid student ID when shopping in-store.
10. Shop Local
While it might not always be the cheapest option, supporting local businesses helps strengthen your community. Consider buying some of your back-to-school items from local retailers.
Make It a Family Moment
Back-to-school season is a great time to bond. Use some of the money you’ve saved to treat your family to a special dinner or outing before the school year begins.
We hope these tips help you feel more prepared and less stressed this back-to-school season. For more everyday financial advice, visit the Monson Savings Bank Life and Money Blog.
