Back-to-school time... The vacations are barely over, and it's already time to stock up on the kids' school supplies. This can be a real headache for parents!  

Here are our tips for sweetening up this time of year!

Getting ready:

• Check the school list and limit yourself to what's listed. 
• Make an inventory of items you've kept from the previous year that can be reused (pencils, sheets, glue sticks, scissors, etc.). Check whether items used by the older child can be used by the younger.
• Store around and compare prices in two or three places. At the end of August, you'll be able to take advantage of attractive sales. Don't limit yourself to office supplies and stationery stores! Big-box stores and drugstores are full of low-priced school supplies.
• Buy quality items, they last longer! School bags, pencil cases, lunch boxes...  
• Trade with friends and family.
• Recycle! Why not use the backs of papers no longer in use as scrap paper for children's exercises?   

Shopping... with or without the kids?

If possible, make shopping without the kids a priority. It will be much easier to stick to the list. 

If you're going shopping with the kids, this is your chance to introduce them to the basics of budgeting. Give them specific items to buy and a budget to stick to. They'll be proud to fulfill their mission!

And the clothes?

The temptation to renew the children's wardrobe is strong? Make sure you take stock of what's always there before you believe the popular saying "I've got nothing to wear!". We're sure you'll be able to salvage a few pieces!

Take advantage of year-round sales to spread your spending over a longer period. You don't have to buy everything at once! Many parents buy their children's winter coats and boots during the end-of-season spring sales, in preparation for next winter. But you have to be careful, because kids grow up fast!

Remember, it's not always necessary to buy new. Visiting thrift stores or second-hand stores can save you money. Online classified ads are also very practical, allowing you to store for used items from the comfort of your own home. Trading with cousins or friends with older children is also a good way to fill drawers without emptying your pockets.

Other expenses...

Don't forget to factor in childcare and transportation costs, as well as out-of-pocket expenses for school activities and outings .

Teaching days are often predictable, so remember to budget for babysitting. You can also coordinate your days off with these events. Finally, if other parents are doing the same, why not work it out with them? Taking turns looking after the same group of children can save everyone money.

Better safe than sorry...

The key to success is organization. Back-to-school is a recurring event, and the associated expenses can be planned for. So it's a good idea to include them in your family's annual family budget. By setting aside a sum of money each month, you won't be caught unprepared for the next school year.  

To help you identify how much you need to save each month for back-to-school, we've developed a specific budget grid for these expenses. Download it here!

But there's always credit, isn't there?

We can't stress it enough: planning is the key to achieving and maintaining good financial health. Budgeting a small amount each month, rather than waiting until the last minute, will take the stress away and help you avoid resorting to credit to meet expenses. Because credit is expensive!
For example: you make a $300 purchasewith a 19.9% credit card, repaid by monthly payments of 4% of the balance. You'll have paid $410.92 in 3 years and 5 months, which means you'll have paid $110.92 in credit charges*.

Happy shopping and back-to-school!

If you’re feeling overwhelmed by your finances or don’t know how to get started on a project, give us a call! We offer free budget consultations!

*https://www.opc.gouv.qc.ca/paiementminimum/