Back-to-school season can be exciting – but it can also hit your wallet hard. From supplies and clothes to tech upgrades and lunch prep, the costs add up fast. And with inflation still impacting everyday expenses, many families are looking for ways to make smarter financial choices.
According to recent surveys, parents are expected to spend around $570 per student this year, with school supply prices up nearly 9.4% compared to last year. If you’re feeling the pressure, you’re not alone.
Here are some practical tips to help you prepare, save, and teach your kids valuable financial habits along the way.
Set a realistic budget – and stick to it
Start with a list of essentials and set a spending limit per category (clothes, supplies, tech, etc.). Consider what can be reused from last year, and don’t be afraid to say “no” to trendy extras that fall outside the budget.
Pro tip:
Involve your child in the process. Let them help prioritize or choose between items – they’ll learn how to budget and make trade-offs.
Shop smart & early
Shopping early gives you time to compare prices, watch for sales, and take advantage of tax-free weekends (if available in your state).
Ways to save:
- Use loyalty programs and coupon apps
- Buy in bulk and split costs with another family
- Look for gently used clothing or tech at resale shops or online marketplaces
Avoid overspending with debit or prepaid cards
Using a debit or prepaid card instead of a credit card can help you stay within budget and avoid interest charges. Some parents load a set amount onto a prepaid card for their kids, which helps teach financial responsibility in a safe way.
Consejo:
Set up account alerts or use banca digital to track spending in real time.
Use this as a teachable moment
Back-to-school season is a perfect opportunity to teach kids about needs vs. wants, price comparisons, and the value of money. Turn shopping into a hands-on budgeting lesson they’ll actually remember.
Example:
Give your child a $50 budget challenge and let them manage a portion of their shopping list. Talk through their decisions and help them reflect on what worked – and what didn’t.
Plan ahead for hidden expenses
Don’t forget about sports fees, club dues, classroom donations, and transportation costs – they add up quickly. Budget for these extras upfront so you’re not caught off guard.
Final thought
A little planning goes a long way. With rising costs, back-to-school season is the perfect time to refresh your budget, make intentional choices, and pass on smart money habits to your kids. And if you need help setting savings goals or tracking expenses, your Rize team is here to help.