Back-to-school Financial Tips for Parents

As summer winds down, the back-to-school season brings with it excitement, and expenses. Between uniforms, schoolbooks, lunches, and extracurricular activities, costs can quickly add up. Whether your child is starting primary school or heading off to college, a little planning can go a long way in keeping your finances on track.

Here are some smart financial tips to help parents navigate the back-to-school season without breaking the bank:

1. Set a Back-to-School Budget

Start by listing expected expenses, from uniforms and supplies to after-school care and transport. Use last year’s spending as a guide and factor in any changes, such as a child moving up to secondary school or taking up new activities. Having a clear budget in place helps avoid overspending and encourages smarter decisions.

2. Take Stock Before You Shop

Before hitting the shops, check what you already have. You might be surprised how many items like stationery, school bags, or even lunchboxes can be reused. Involve your children in this process to teach them about conscious spending.

3. Shop Smart

Take advantage of school sales, online discounts, and multi-buy deals. Buying in bulk can also reduce long-term costs for supplies like notebooks, pens. Don’t forget From September 2025, the Free School Books Scheme will extend to all post-primary students, reducing education expenses for families.

4. Don’t Forget the Hidden Costs

It’s easy to plan for the obvious expenses, but remember to factor in “hidden” costs like school photos, fundraising events, “voluntary” contribution or sports gear. A small buffer in your budget can help prevent surprises later on.

5. Plan Ahead for Big-Ticket Items

For secondary school students or college-goers, tech expenses like laptops or tablets can be significant. Consider saving in advance. Always compare specs and prices sometimes the mid-range option is more than enough.

6. Teach Your Children Money Habits Early

The back-to-school season is a great time to talk to your kids about budgeting, needs vs wants, and the value of money. Consider giving older children a small budget for their supplies and encouraging them to manage it themselves.

7. Review Your Overall Financial Plan

Back-to-school season is also a good time to review your household finances. Are you on track with your savings goals? Do you need to adjust for new school-related expenses? This is where financial planning can provide real peace of mind.

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