[August 07, 2017] |
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Take Charge America Teaches Parents to Save on Back-to-School
Back-to-school spending is cutting more deeply into family budgets than
ever before. In fact, the National Retail Foundation expects parents to
shell out $83.6 billion this year to send their children and college
students back to school, an increase of 10 percent over last year.
"Back-to-school season puts a lot of strain on families, and spending
keeps going up every year," said Mike Sullivan, a personal finance
consultant with Take Charge America, a national
nonprofit credit counseling and debt management counseling agency.
"School budget cuts have shifted the cost of supplies to families, but
savvy parents can minimize their spending without skimping on
necessities."
Sullivan offers nine tips for saving money on back-to-school:
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Repurpose: Kids need many of the same supplies every year, and
items like scissors and rulers can withstand many school years. Saving
even a few bucks here and there will quickly add up.
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Splurge and scrimp: You may want to splurge on a few items that
are important to your kids, like a cool new backpack or high-end
calculator. Then scrimp on everything else, opting for low-price and
store brand glue sticks, binders and markers.
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Stick to the list: Techers' supply lists have become more
extensive - and expensive. It's smart to stick to the list and avoid
impulse purchases on unnecessary items.
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Compare prices: Laptops and calculators can put a big dent in
the back-to-school budget, so make sure you're getting the best price.
Pick from numerous apps that track prices on costly electronics to
ensure you're getting the best value.
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Wait to buy: Even better, put off purchases on pricey items
until after Labor Day. Just like holiday shopping, retailers hold fire
sales after the rush is over.
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Shop tax-free: Many states offer a tax-free weekend to help
parents save money on back to school. Look online to see if your state
participates, and take advantage of the savings.
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Find retailer deals: Retailers ramp up promotional offers as
the start of school approaches. Sign up for emails and check social
media pages of your kids' favorite brands, then make your purchases
when you find a good deal.
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Shop second-hand: Clothing swaps are a smart choice for parents
looking to exchange gently used clothing, and second-hand shops,
Craigslist and eBay (News - Alert) are good options for finding trendy and brand-name
gear at a low cost.
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Include kids in the process: Give your kids a back-to-school
budget for higher-price items like clothes and shoes. They'll learn an
important lesson about blowing the budget on one or two pricey
brand-name items or stretching their dollars for a bigger haul.
For more financial tips or information about budgeting, credit
counseling, debt management or student loans, visit takechargeamerica.org
or call (877) 784-2008.
About Take Charge America, Inc.
Founded in 1987, Take Charge America, Inc. is a nonprofit agency
offering financial education and counseling services including credit
counseling, debt management, student loan counseling, housing counseling
and bankruptcy counseling. It has helped more than 1.6 million consumers
nationwide manage their personal finances and debts. To learn more,
visit www.takechargeamerica.org
or call (888) 822-9193.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170807005362/en/
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