Back to School Spending Tips

Back to School Spending Tips

School supplies and clothes will be the biggest expense students will face when it comes to shopping this summer in preparation for the 2017-2018 school year. Over Labour Day weekend alone, Canadians made nearly 26 million transactions totalling almost $1.4 billion dollars in retail stores last year.

So how do you avoid spending a fortune? Here are some tips to help you get the most from your wallet this back-to-school season:

Spot the sales. Take advantage of every deal and coupon that comes your way. Check flyers for clearance sales, spend some time browsing online for discount promo codes, and use a comparison app to get the lowest price possible. This can save you more money than you expect.

Stick to your list. Don’t stray from your teacher’s supply list at the start of a new school year, and avoid getting distracted by unlisted items that catch your attention. As tempting as those items may be, you’ll just waste time and money.

Loyalty pays off. You don’t need a credit card to get rewards. Many stores have some version of a loyalty card, so you can shop with your debit card and still earn points. And those points are truly free because you are shopping with your own money, which means you’re not paying interest.

Plan your big expenses. Be sure to do some research and plan ahead for the bigger purchases. Back to school shopping can quickly add up. Set a budget, and stick to it.