Budget Alert: Back to School Shopping

According to the National Retail Federation, parents will spend, on average, $606 per child on clothing, shoes, supplies and electronics this year. What will you be spending on back to school shopping? Do you have a budget?

This is another great opportunity for you to teach your kids and teens about needs vs wants. Here is a guide for you think about before you open up your wallet to shop:

1. Shop your Closet – have your kids and teens go through their closets and supplies and decide what they can reuse. If it’s not usable or wearable then recycle it.

2. Make a List – have your kids and teens make a list of what they need for the school year. This is a great time to discuss needs vs wants.

3. Set the Budget – take the list and set a budget for each item on the list and stick to it.

4. Research – take the time to research your items on-line. Everything from computers to shoes to sweaters can be found on-line. Print out coupons and note sales.

5. Consider On-Line Shopping – it will save you time and could save you some money if you do your research. Watch out for shipping charges. Here is a website that could save you shipping: http://www.freeshipping.org/

6. Teen Shopping Budget – consider giving your teen the allotted budget amount in cash or deposit to their checking account and let them do their own shopping. As for teen clothing, talk about what is appropriate and you can always reserve the right to veto any unacceptable item.

Happy Shopping!