Back to school shopping can be stressful. The expense of school uniforms, supplies, books and extracurricular activity fees can quickly add up. However, it doesn’t have to be financially stressful if you plan ahead. Check out some quick financial tips to help guide you through the school year.
Apply for Scholarships
Scholarships are available for children of all ages and are easy to apply for. They are typically awarded based on criteria often related to academics, service or leadership.
For example, Catholic Financial Life offers scholarships to its members for elementary school through college. When school’s out, members are also eligible for $100 annually toward the cost of a Catholic retreat or camp.
Buy in Bulk
From preparing lunches to replenishing school supplies, making a trip to the store becomes a weekly occurrence. Buying in bulk will help you save money in the long run and avoid the constant trips to the store.
Prepare in Advance
Although the new school year has already started, begin to map out your additional purchases such as graduation parties, athletic gear and tutor sessions for the remainder of the year. This will reduce the need to make last-minute purchases and help you stay on track with your budget.
Stay on Budget
Speaking of budgets, don’t forget to prepare a budget and do your best to stick to it. Be sure your children understand the value of a dollar and how to create a budget. It will not only help you but also them in the long run.
With expenses continuing to add up throughout the school year, these budgeting and planning tips can help you stay on track and help reduce financial strain. Check out additional financial wellness tips at join.catholicfinanciallife.org/catholic-financial-life-free-financial-ebooks.
