On average, according to the National Retail Federation, a family with children in kindergarten through 12th grade will spend about $549 preparing for school. That figure is nearly 8 percent lower than last year, reflecting the economy's impact, but still a large investment. College students and their families will spend an average $618.
Squeeze the most from back-to-school spending with these techniques:
1. Watch for sales. Loss leaders at office supply stores are less common than last year, but many stores are still offering great buys. Take advantage of bargain-basement deals on needed school supplies, and stock up when possible.
2. Scour unlikely spots. Grocery store aisles, for instance, might have school supplies on clearance by now. Thrift stores sometimes have new supplies at rock-bottom rates. If the price is right, stock up for this year or next.
3. Crunch lunch numbers. Instead of automatically ordering hot lunch or packing a lunchbox, check the real cost per day. The average cost of school lunches was $2.08 last year. While that may sound expensive compared to a simple homemade lunch, it is about half the price of many pre-made, packaged meals many kids like. Families in which a breadwinner has been laid off and who are seriously struggling economically can look into free or reduced-rate lunch programs for kids.
4. Buy used. Now known as "recycling,"
5. Reuse the backpack. Evaluate automatic purchases. Kids don't need a new backpack every year, or new sneakers simply because school is starting. Buy the things they really need, and wait for sales (and growth spurts) to inspire major wardrobe refashions.
6. Stretch fashion dollars. When it comes to fashion, older kids demand labels. Thrift and consignment stores frequently have barely worn clothes for a fraction of the price. Also shop discount chains and look for your kids' sizes (and labels) on eBay. Some parents offer to pay the price of a standard garment, and let tweens and teens pay the difference if they want the brand name.
7. Plan meals for all. Take advantage of the back-to-school season's organizing spirit to save money for the whole family. By planning meals and shopping for the week, families can eat better and save more than resorting to takeout at the end of an exhausting day. Plus, home-cooked meals provide a great way for families to stay in touch once the school year begins.
"By planning ahead and thinking purchases through, families can make the back-to-school season fit their budgets. That way, you can turn your attention from how to pay for the fall transition to helping kids use what's in those book bags," said Ewing.
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