.
.

PHONE: 215-934-3500 or 800-832-PFCU

ABA Routing # 236084298

Back-to-School Savings: Three Tips to Save Money on School Supplies

Aug 30, 2017

Labor Day is right around the corner, which means it's time for back-to-school shopping! Follow these tips to save money on school supplies for grades K-12.

Three Tips to Save Money on School Supplies

Create a budget

The cost of school supplies can add up quickly, so start off simple with a bulleted list of essential items. Many elementary and middle schools send a list of school supplies in the mail as part of the letter notifying students of their new teachers for the year. Develop a budget based on these required items and leave a bit of wiggle room for expenses that you may not anticipate, like a pricey calculator.

Creating a back-to-school budget is a great way to get your kids involved in financial lessons early on. Make it a game for them to help you find items throughout the store that fall within budget. If there is leftover money at the end, you may even consider rewarding them with supplies not on the list. Children may insist on that special set of colored pencils, so another option is to teach them to save up their own allowance to purchase these extra items.

Host a yard sale

Hosting a yard sale is another technique to get the entire family involved in building back-to-school savings, and it doubles as a financial lesson for kids. Gather toys and old school supplies around the house that you no longer plan to use and sell them in a neighborhood yard sale. Kids can lead this charge and put the money raised toward your back-to-school budget. Children will learn the value of hard work and saving!

Stock up on coupons

Keep an eye out for coupons before heading to the store. You can find promo codes and coupons through RetailMeNot.com for awesome back-to-school deals at Staples, Bed Bath & Beyond and more. The site lists the top deals from hundreds of retailers for consideration. Compare deals on other sites like Groupon to get the most bang for your buck.

The key to saving money on back-to-school supplies is developing a game plan and sticking to it. Build a budget for your supply list, host a yard sale to make room for new supplies and look out for coupons to find the best deals for back-to-school savings.

For more quick savings tips, check out our blog on three simple money-saving tips.

For parents looking to save for children in college, see our recent blog on saving money on college supplies.

erin_elis

Erin Ellis
Accredited Financial Counselor ®
Philadelphia Federal Credit Union
eellis@PFCU.COM
National Association of Federal Credit Unions 
PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Excess Share Insurance Corporation 
Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

We provide links to external websites for your convenience. Philadelphia Federal Credit Union does not endorse and is not responsible for their content, links, privacy or securities policies.

Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Since they are not a deposit of the Philadelphia Federal Credit Union, investment accounts do not qualify for Excess Share Insurance (ESI). Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.