Yahoo Finance 5 unexpected ways to save on back-to-school shopping
It’s that time of year again, kids are going back to school and parents are scrambling to get them organised before Labour Day weekend. The cost of getting back to class can be a huge financial burden on parents.
According to a poll by the promotions and discount code website Retailmenot.ca, conducted by Angus Reid, Canadian families will spend an average of $883 getting their kids ready to get back to class. Another survey by the online shopping site eBates, suggests the average Canadian will spend about $183 on each child, with some parents admitting they plan to spend $300 per kid.
Most parents are well aware of the classic ways to save, look for sales, and buy second hand whenever possible. But there are some other surprising tricks you may not know.
Don’t do the one-stop shop
Big-box stores try to get customers through the door with so called sweetener deals. These are a few deeply discounted items. The hope is customers come for the cheaper items and pick up other things at full price. Temptation to get it all in one place can be strong. But take some time and research where the best deals are. Sometimes walking to another store in the same mall will save you 50 per cent on an item. By shopping for everything in one place you guarantee you will pick up some items at full price.
Limit your shopping days
If you spread your back to school shopping over several days you are bound to spend more. We get tempted by something new, we may stop for lunch or pay more for parking. An American study by international media and communications company JCDecaux North America, Inc., calls it “the mall phenomenon:” every time a person steps into a mall they spend money. It shows the average person spends $105, and 80 per cent of people who visit a mall spend something. Target your shopping and limit the days you go.
Focus on 80-20 school lunches
Make school lunch 80 per cent vegetarian and 20 per cent meat. A paper published in the Journal of Hunger & Environmental Nutrition reveals how a plant based diet can be up to 20 per cent cheaper. So by reducing the amount of animal protein you use in your kids lunches you will save money. But, no matter what it’s a total waste of money if it doesn’t get eaten. Experts say you should get your kids involved with making lunch, they are more likely this way to eat it.
Use your loyalty points for big ticket items
Canadians are carrying whopping $16 billion in unredeemed loyalty and rewards points. That works out to about $629 per collector. Many programs have a robust merchandise page with expensive items like laptops and smartphones. Take some time to sit down, log on and see what your points are worth.
Just say no to retail
Outside of a new outfit for the first day of school, to the best of your ability don’t purchase new items. Wait until your kids start class to get a clear understanding of what they need, as teachers often send home lists the first day. By waiting you can also take advantage of sales on typical back-to-school items that retailers will be trying to clear off their shelves.
Tips for teachers
Teachers going back after the summer break may need items to update their wardrobe. Save money and have fun by hosting a clothing swap. Everyone brings a few gently used items and you can spend an evening trying on and going home with a few new (to you) pieces. Also, find discounted gift cards for the stores you frequent for brand new items. Try cardswap.ca and giftcardnanny.ca. For setting up your classroom, buy what you can second hand and search sites like Pinterest for great DIY ideas.
Back to school is a major retail event, second only to Christmas. Families should be aware of that when shopping in order to avoid overspending.
