BANGOR, Maine (WABI) – According to the National Retail Federation, the average cost of back-to-school shopping this year is about $875 per child.
But you don’t have to empty your wallet to fill your backpack.
TV5 spoke with Seth Populaski, Community Engagement Manager at University Credit Union, to learn some tips on saving money.
“School is back in session and we’re in the thick of it right now,” he said.
Populaski is also a father no stranger to back-to-school shopping.
He recommends starting with Step 1: Make a plan and getting a list from your school or teacher.
“Make a list, carry it with you, follow the list and make sure you’re not buying any outlandish things that you don’t really need,” Populaski said.
If your loved one is going to college, have a conversation about money.
He says it’s easier to have these discussions early on than waiting until your children are in financial trouble.
“So if you have a child going to college, whether it’s on a University of Maine campus or the University of Maine system, people across the state, especially people like us, can actually sit down and talk about the benefits of creating a budget that’s tailored to your savings and spending, your wants and your needs and your financial situation,” he said.
For most students, it may be too late to start saving, as school is only a few days away from reopening.
But Poplaski says back-to-school shopping is a regular expense every year, so try to set aside some money for it throughout the year going forward.
“You know, it’s exciting, right? You make a plan and you’re like, Okay, oh wow, now I can do this. And I have a budget so I can go buy some fun things like Crayola crayons and all that cool stuff that I wouldn’t have if I wasn’t prepared,” he said.
To get the most out of your budget, look for sales. Try thrift stores or Facebook Marketplace when buying clothes and shoes.
Reach out to people in your community and ask for their used clothing, and if you have any left over, share them with friends and neighbors.
“We’re a small community, but I think if we all help each other we can accomplish really big things,” Populaski said.
If you have money left over in your back-to-school budget after all your shopping, Populaski suggests supporting your child’s teacher.
Many people buy classroom supplies out of their own pockets, but set up Amazon wish lists for easy access.
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