Back-to-School Savings

Getting your kids ready to go back to school can take a big bite out of your budget. Here are seven ways to stretch your money this fall.

Do your homework. Many schools post supply lists online so kids can come prepared with glue sticks, calculators and other classroom necessities on day one. Review the list for your child’s class to see what you might already have on hand. (Why buy a pack of yellow highlighters when you have some left over from last year?) The list can also help you avoid making the wrong purchases. A rolling backpack, for instance, might be off limits at your son’s school.

Time your shopping strategically. Several states have “sales tax holidays” during August to ease the cost of back-to-school shopping. Some offer the tax break for an entire week, while others limit it to a single weekend. Spending caps vary, as do the items that are eligible. Clothing and school supplies are generally included; in some states you can also buy a computer worth up to $3,500 tax-free. Check out the list of this year’s state sales tax holidays at taxadmin.org.

Redeem yourself. Cash in rewards points you’ve accumulated on your credit card for gift cards at the stores you’re likely to visit this fall. It can take several weeks to receive your gift card in the mail, so order early.

Make the trade. If your child’s school requires uniforms, find out if the PTA runs a uniform exchange where you can swap gently used clothes that your child has outgrown for the next size up. The same goes for marching band, scouts or other activities that require a uniform. Don’t worry if you have nothing to trade. Some swaps take cash too, often charging a fraction of what you’d end up paying at the mall.

Ask for freebies. Your eight-year-old may be begging for ballet lessons, but check if she can take a free class before signing up. She may decide that it’s not for her, saving you loads of money on lessons and leotards. In the event that she enjoys it — and her six-year-old sister subsequently starts pleading for lessons too — ask for a sibling discount, which could save you 10% or more on the fees.

Toot someone else’s horn. Renting a musical instrument from a reputable shop can be a wise move if your child is starting lessons this fall. You’ll save money on repairs since the store covers them, and your child can learn proper instrument care before owning one himself. Plus, if your son loses interest in the trumpet after six months, you’re not stuck with it.

Share chauffeur duties. When gas prices are high, it’s time to make friends with other parents at gymnastics, karate and other activities. Carpooling cuts the number of round trips you’ll make around town — and you’ll get to know your kids’ friends, too.

Start stocking up for next year. Stores typically slash prices on school supplies at the end of September and into October. Load up on binders, folders and wide-ruled paper your kids will need next year. Just be sure to store them in a place you’ll remember.

About the author: Jennifer Gill is a New Jersey-based freelancer who writes about personal finance, the workplace and small business. Her stories have appeared in publications such as Inc., Real Simple and Working Mother.