Parents could spend $100 on supplies alone for back-to-school shopping
If you’ve been in denial that summer is coming to a close, you and your children may have been avoiding back-to-school shopping. Well, it’s time to bite the bullet: the last weekend of August is upon us, and it’s time to start buying those pencils and erasers.
Unfortunately it won’t come cheap – Consolidated Credit found that parents should be expecting to spend around $100 per child on school supplies alone, while RetailMeNot.ca pegged the total at around $300 per child when factoring in clothing and all the extras.
Consolidated Credit has a full article on back-to-school shopping and budgeting tips, but here’s a quick summary:
- Have a plan – Bring a list and a budget (and stick to it).
- Nickel-and-dime each item – Smalls savings will add up at the checkout.
- Comparison shop – Retailers are competing for your business – take advantage!
If credit card debt is stretching your budget then and you don’t know how you will pay for school supplies and clothes, it might be time to call to speak with a trained credit counsellor. They’ll take a look at your finances and make recommendations on your best path to becoming debt-free. You can also get the process started online by trying a Free Debt Analysis.