Money & Shopping

Budgeting Hacks – Managing Your Kids’ Back-to-School Expenses

August 15, 2023

The new school year is just around the corner. While there are already schools that started their classes, public schools and some private schools will begin in a week or two. Many parents, like me, are still making our back-to-school budget. With the rising costs of almost everything these days, the estimated costs of purchasing school supplies, uniforms, bags, shoes and other essentials for our kids are surprising. Managing these expenses can be overwhelming, but with the right budgeting hacks, the process can become more manageable and less stressful. In this guide, we’ll explore a range of budgeting hacks designed to help parents easily navigate the intricacies of back-to-school shopping and expenses:

  1. Check what you have.

Before doing any shopping, take inventory of what you have at home. Check for any unused school supplies, shoes and clothes that still fit, and any items like bags and lunch boxes that can still be reused. By doing this, not only you’ll be able to save money but also time and space at home for not buying any unnecessary purchases.

2. Establish a final list.

Once you’re done checking what you already have at home, you can now make a list and be sure to stick to it. With a list in your hand, you can confidently shop without overspending too much.

3. Determine your budget and sell some stuff for additional cash.

Knowing and setting your budget is always hard whenever you realize you are short of cash for all the necessities. If you have any preloved school items that you can sell, now is the time to do it as more moms are looking for second-hand items during enrollment season.

4. Take advantage of deals, discounts, and quality second-hand items.

Allot time to search online for deals, discounts, and quality second-hand. Shopee, Lazada and even Zalora are usually offering monthly sales so why not spend some nights browsing for items in these apps if you’re OK with waiting for a couple of days for the delivery. If you’re in for second-hand items, Facebook Marketplace is the best place, you can also get the items as early as the same day.

5. Buy in bulk.

If you have many children, the more reason you should shop at stores that offer wholesale prices. Some moms even buy together to save big.

6. Save big on expensive items.

With quite a long shopping list, it’s more common for moms to feel overwhelmed thinking about the budget, energy, and time needed. This is why you should prioritize buying first the most expensive items on your list and find deals for them. What are these items you say? They’re school bags, shoes, and clothing! Trust me, if you prefer buying from top-quality brands, the total amount will surprise you.

7. Take advantage of short-term loans and bad credit loans.

Even when following all the tips above, a parent will still need a certain amount of money to shop. Don’t feel guilty if you weren’t able to save enough for this or if you have overspent during summer break. This scenario is quite common and there’s always a solution –> short-term loans.

A short-term loan is a type of loan that is obtained to support a temporary personal need. Short-term loans are called such because of how quickly the loan needs to be paid off – usually 6 to 18 months.

Some credit card companies do offer credit to cash promos. Applying is done by just calling the bank. However, this option is only applicable to credit card owners who still have enough available balances in their accounts.

If your credit is in terrible shape, don’t worry, there are a few poor credit loan options available. Examples of these are online loans, private lenders, etc.

Some Benefits of Bad Credit Loans

  • Credit History is Usually Not Required
  • Higher Chances of Getting Approved
  • Quick Turnaround Time

Don’t begin the new school year with financial anxiety. You’ll experience less worry if you put these 7 back-to-school budgeting hacks suggestions into action. Have fun shopping moms and dads and may your kids have a successful school year ahead!

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