5 Back to School Spending Tips

 In Financial Planning, Financial Tips & Advice, Local Finance

It’s that time of year again.  Time to trade the game controllers and iPhones, for textbooks and calculators.

A recent survey by retailmenot.ca found that Canadian parents will spend approximately $472 on their children, on average for back to school items this year.  With that in mind, the team at Ostic Financial Group came up with some simple, smart shopping tips to help you avoid breaking the bank this year.

1. Check your current inventory

As simple as this may seem, you might have a surprising number of items in the house from previous back to school shopping sprees.

2. Create a budget

And stick to it!  Take into consideration your current financial responsibilities, and other savings plans and goals.

3. Avoid paying full price

Shopping around takes more time, but you might get more bang for your buck.  Compare deals in flyers, consider in-store discounts, and online deals.  Used textbooks and resources are usually available at libraries and book stores, for a fraction of the price.

4. Use cash

This will help you stick to your budget and avoid overspending on impulse buys.

5. Buy in bulk with a friend

Costs are often cheaper at warehouse stores, but you have to buy in bulk.  Team up with a friend or two when buying items like basic school supplies.

There’s no need to be stressed about back to school shopping, you just need to be smart about it.

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