16 AUGUST 10, 2017 RIDGEWOOD TIMES WWW.QNS.COM
BACK TO SCHOOL
The ABCs of back-to-school budgeting
It's natural to pack all you can
into those few precious summer
months, but inevitably they're
gone before you know it. As summer
vacations, sleepovers and outdoor
grilling come to a close, it's time to start
thinking about going back to school.
You may be working to pay off summer
vacation bills when you realize
you need to budget and pay for your
child's school supplies, clothing and
other related school expenses.
In a recent survey conducted by
Coinstar, about half of U.S. parents
with kids between ages fi ve and 18 believe
school expenses are increasing.
Of those surveyed, 57 percent will
create a back-to-school budget.
To ease rising school costs, here
are fi ve budgeting tips that will help
you get more for your back-to-school
dollar:
Create a budget. One of the best ways
to spend wisely is to create a budget.
If you don't already have one, open a
new spreadsheet on your computer
or get out a pen and paper. Consider
all the potential back-to-school expenses
and not just the obvious ones,
such as school supplies and clothing.
For example, you'll want to factor in
extracurricular or after-school activities,
tutoring, special school trips
and even lunch costs.Collaborate with
other parents. Consider joining parent
groups, either through your school or
community. These groups can off er a
great support network to share ideas
and information. They also serve as a
fantastic resource for meeting parents
who have items such as sports equipment
their kids have outgrown or even
musical instruments their children
no longer play. This can lead to some
serious money-saving deals.Tap your
coin jar. With rising school costs, the
old saying that every penny counts
really is true. You can literally put this
into practice by collecting all the loose
change around your house or tucked
away in your coin jar and bringing it to
a Coinstar kiosk. At the kiosk, you can
turn your coins into cash by paying a
small fee or put your change toward a
no-fee eGift card to use at retailers such
as Amazon.com or Old Navy.Make a
shopping list. Most schools provide a
back-to-school list to help you plan and
shop for your child. Use this as a starting
point to make your own list and
then stick to it! Retailers are set up to
encourage impulse buys, but checking
to see if something is or is not on your
list is one of the most eff ective ways to
avoid purchasing non-essential items
and blowing your budget.Embrace the
three Rs. Your kids will probably learn
about the three Rs in school: reduce, reuse,
recycle. This is a great principle to
keep in mind when getting them ready
for school, especially for back-to-school
clothes. Choosing quality basics such
as a jacket, skirt, sweater or jeans that
can be combined with other clothing in
your child's closet will reduce the need
for quantity purchases. In addition,
consignment stores and online retailers
are very popular and off er gently
used items that check the "reuse" box.
And fi nally, don't forget to take advantage
of hand-me-downs, whether from
older siblings or friends.Going back to
school should be an exciting time for
you and your kids. With these fi ve
budgeting tips, you can help cut the
fi nancial stress out of the process and
kick the school year off to a great start.
Courtesy BPT