Summer is slowly winding down. Parents are telling their kids to enjoy all of what summer has to offer as it comes to an end. The reason? School will be here soon. For some children, this may be hard to accept as they enjoyed a summer filled with endless fun. Nothing beats family time at the beach especially when it is spent building sand castles and forts in the sand. And who can forget trips to amusement parks and funnel cakes topped with strawberries and ice cream? Summer time fun is a kid’s favourite time of year!
Now that summer is ending, most parents are getting ready to shop for Back to School clothes and supplies for their children. It is a time of year many parents have mixed feelings about. On one hand, you are happy the kids are heading back to their old routine and you no longer have to find activities to fill their day to day adventures; on the other hand, you are wondering how much damage your child’s Back to School shopping will do to your finances. You have a valid point. For many parents, this time of year is downright costly. A recent survey by Ebates.ca says 45 per cent of parents will spend from $100 to $200 per child. And 1 in 4 parents will spend more than $200! When you are a single-parent, this time of year requires a lot of planning or you may end up over-spending and turning to debt by financing your purchases on a high interest rate credit card.
Consolidated Credit understands this time of year can be challenging for many single parent families recovering from a divorce. To ease the strain on divorcee’s wallets, Consolidated Credit offers the following money-saving tips to ease the sting of Back to School shopping may bring:
- Create a Back to School shopping plan of attack and stick to it. Create a list of the supplies and clothes your child needs. Sticking to this list will help you stay on budget and guard you against “too good to be true deals” you don’t need in the first place.
- Exercise control. Back to School shopping is a different experience for every parent. The key to not spending $500 in one shot is to not go overboard while shopping. Retailers will try to encourage you with deals however only buy what you need. Besides, your child’s school may already provide your child with supplies so don’t waste your money on buying flashy stuff.
- Remember to rummage through last year’s stuff. It’s very rare your child will finish all of their school supplies in one school year so take the time to dig deep in their old stuff – you may be surprised at what you find. This will help you to save and focus on your child’s needs and not wants.
- Get your kids involved! It is never too late to teach your child about money. Back to School shopping serves as an excellent opportunity to explain the importance of comparison shopping and finding the best deals for your budget.
By following the above tips, your Back to School shopping experience will be a fun and painless one. The key to success is to ignore all of flashy gadgets in the store and focus on what is needed to achieve a successful school year for your child. So start your Back to School game plan today and finish the race as a champion!
To learn more about Jeff Schwartz and how Consolidated Credit can help click: https://www.thedivorceangels.com/vendor/jeff-schwartz/