Summer is here! The time for lazy days, refreshing lemonade, and… back-to-school shopping? That's right! With American State Bank as your trusted advisor, planning for the upcoming school year can be enjoyable and rewarding. By incorporating fun and smart money moves, you can make the most of your summer while preparing for back-to-school expenses. Let's explore some savvy financial tips for getting ahead and being ready.

As a quick overview, here are some core tips to make your back-to-school shopping experience even more rewarding:

  1. Set a Budget
  2. Shop Tax-Free
  3. Prioritize Essential Items 
  4. Shop in Advance
  5. Hunt for Student Discounts
  6. Involve Your Kiddos
  7. Plan for Future Purchases

Add Your Back-to-School Fund to Your Budget

  • Parents should expect to spend, on average, $660 per child in grades K-12 on back-to-school purchases. If you haven’t started budgeting for this yet, now’s the time! Get your checklist made, find out the approximate cost you can expect, and start putting money aside for those expenses now. 
  • If you have two or more children going to school or tend to spend more during this time of the year, you might even consider starting a dedicated savings account. Regularly deposit a portion of your income into this account, making it a habit to save consistently. 

Start saving your way with a savings account with American State Bank.

Embrace the Treasure Hunt

  • Who said shopping for school supplies can't be an adventure? Turn it into a treasure hunt! Create a priority checklist of the items you’ll need immediately to keep on hand. Refer back to it as you go about your weekly shopping, purchasing when you see things on sale. You could even share the list with your kids and challenge them to find items at the best prices! 

Discover the Hidden Discounts

  • Unleash your inner treasure hunter in the digital realm, where exclusive promotions and deals await. Explore coupon websites, sign up for newsletters, and be on the lookout for student discounts, loyalty programs, and seasonal promotions. These hidden gems can significantly lower the cost of your back-to-school purchases.
  • Additionally, maximize your savings by taking advantage of tax-free holidays. Research your state's tax laws and mark the dates of these special periods on your calendar. By planning your shopping accordingly, you can enjoy tax exemptions and keep more of your hard-earned money.

As summer rolls around, preparing for back-to-school expenses doesn't have to be a mundane task. By infusing a sense of adventure, creativity, and fun into the process, you can turn it into a memorable and enjoyable experience for the whole family. Embrace the treasure hunt, host a swap party, plan budget-friendly field trips, get crafty with DIY supplies, and start a "Back-to-School" savings jar. These smart and playful moves will not only help you save money but also create lasting memories. So, get ready to rock the upcoming school year while having a blast this summer!