Back-to-School Finance Tips: Saving Money While Preparing for the Year Ahead

Ayhana Austin
Aug 22
3 min read

Updated: Aug 23

As summer winds down, families everywhere are preparing for the back-to-school rush. Between supplies, clothes, technology, and everyday essentials, the expenses can add up quickly. Whether you’re a parent, caregiver, or student managing your own budget, a little planning can go a long way toward saving money and reducing stress. Here are some practical back-to-school finance tips to help you start the year strong:

1. Create a Back-to-School Checklist

Before you shop, sit down and make a detailed list of everything you need—school supplies, technology, clothing, shoes, haircuts, medications, and even special education resources if applicable. A comprehensive list ensures you don’t overlook anything, and it helps prevent impulse buys.

2. Turn Your Checklist Into a Budget

Once your list is made, use it to create or update your budget. Be sure to include all dependents—children, teens, or even family members you’re supporting. Tracking your expenses upfront helps you set financial boundaries and avoid overspending.

3. Reuse What You Already Have

Before buying new, check your home for leftover supplies or gently used items. Backpacks, notebooks, pencils, and even clothing can often be reused or handed down from older siblings to younger ones.

4. Take Advantage of Sales

Retailers like Walmart, Target, and Amazon compete for back-to-school shoppers with major discounts. Compare prices and don’t hesitate to shop at multiple stores for the best deals. For college students, keep an eye out for electronics sales on laptops, tablets, and phones.

5. Use Cash-Back and Rewards Programs

Stretch your money further by using debit or credit card rewards, or apps like Fetch and Ibotta. Even small amounts of cash back add up when you’re making multiple purchases.

6. Shop Smart at Thrift and Resale Stores

Thrift stores in well-developed areas often carry quality clothing at a fraction of the price. Stores like Goodwill, Plato’s Closet, Ross, and Salvation Army can help you find stylish and affordable options.

7. Buy in Bulk With Other Parents

Pooling money with other families to buy supplies at Sam’s Club or Costco can reduce costs significantly. Bulk purchases of notebooks, paper, or snacks are especially useful for large households.

8. Seek Out Community Resources

Many communities host back-to-school drives, resource fairs, and workshops that provide free or low-cost supplies. Families and college students can also benefit from food pantries, which ease the burden of grocery costs—especially for households with multiple children.

9. Teach Kids Financial Skills Year-Round

Back-to-school season is also a great time to build financial habits. Encourage your children to contribute to ongoing expenses if they have allowance money or part-time jobs. Even small lessons like budgeting at the grocery store teach responsibility and give them a sense of ownership.

Back-to-school shopping doesn’t have to overwhelm your finances. With preparation, smart shopping, and community support, you can meet your family’s needs while staying on budget. And by involving your children in the process, you’re also giving them financial skills that will last a lifetime.