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Another school year is about to start. While teachers are busy preparing their lesson plans, kids are pretty much occupied wondering what new stuff they can show their classmates. Meanwhile, parents too, are very much engaged in budgeting for another year of school expenses.
Parents are predicted to spend an average amount of $600 this year according to the National Retail Federation (NRF). Analysts from NRF believe that spending among families can be described as a move “practice restraint.” Yet, such expenditure is at par with the highest spending percentage since 2003.
Well,
Shaw capital management is sure of one thing, prices of commodities increased over the past few years and you cannot expect parents and children not wanting to disburse even the little money they have for new school stuff. Here are some helpful tips for both parents and children to cut the cost of their school expenses:
· Do an inventory. Make a list of what you already have. Check your drawers, closets, and bookshelves for school materials that are still usable. You surely do not want to spend on pencils and crayons if you already have them. Better survey the materials that you really need to buy or regret on spending too much on surplus materials you have at home.
· Ask for the list. Most schools post their list of required supplies with extra note on what they already provide. Never forget to browse on these lists so you know the materials that are “necessary” for you to purchase. This way you can also avoid duplication of materials bought. Look for other notes such as “recommended” items. Such items are specific to a few classes your kid is not enrolled in.
· Check advertisements. Always be on the lookout for sales, discounts and deals.
Shaw capital management recommends checking such advertisements on newspapers or online. Also try to compare prices of items online to see which store is best to visit. This strategy saves you time and gas , and most of the time, window shopping only gets you to spend before your scheduled shopping. Tax and holiday sales are also good.
· Opt for combo deals and bundles. During shopping season, stores try to make valuable combos of stuff for consumers. Buying in larger packages often save you a lot of money and sometimes, stores give special discounts if materials are bought in bulk. Go ahead and calculate for unit prices to make sure you do make a saving. Teach your kids how to compare prices of deals available on stores if you go shopping with them and let them decide on what is reasonable but not expensive.
