Money, Credit and How To Get Ahead Blog

It's that time of year again...you can almost hear the simultaneous groan of students everywhere dreading the mere thought of going back to school-while the glee amongst parents is nearly palpable. But before you can get back to your quiet weekdays of freedom, there's still one obstacle you have to conquer: back to school shopping. Many of us like to wait until the last minute and take advantage of any and all possible back to school sales. However, by putting off purchasing school supplies to the last minute, are we really getting the most bang for our buck?

A con of last minute back to school shopping is the risk shoppers run of spaving: spending money in order to save money. Sounds ironic, right? As ironic as it may be, spaving is a very common spending dysfunction, and one that especially thrives on seasonal sale events like back to school shopping. With all of the "buy one, get one free" advertisements and "25-50% off" promotions, it's easy to get swept up in the allure of getting so much for (seemingly) so little. Before you know it, you've purchased more supplies than an entire classroom would need.

Many times it's best to wait until after the first day of school to actually purchase supplies. Waiting until after the first day gives you the opportunity to look over the supplies list provided by your child's teacher and purchase only the necessities. That way, you're buying what your child really needs for class, instead of every marker, crayon, and glitter-adorned notebook that their heart desires.

There are some positives to last minute back to school shopping. Depending on the store or item, waiting until the last minute can mean great sales on school supplies. Some stores will start to drop prices as the first day of class approaches in order to prevent their shelves from overflowing with product. If you have several grade-school-aged children, going shopping together will prevent you from buying multiples of items with each child and will streamline your shopping list.

Ideally, your best bet is to stock up on the essentials-notebooks, folders, pens, pencils, etc.-during the clearance sales that occur the first few weeks after school starts up, and hold onto those items until the following year. Keep this tip in mind when you head out for school supplies this year and you'll be thanking yourself in a year's time.

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