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5 Back-To-School Money Saving Tips

Updated: July 13, 2022

A teal backpack filled with school supplies

Another school year means another list full of supplies to purchase. School expenses can add up quickly especially if you’re including a new wardrobe and electronics. According to the National Retail Federation, elementary school-high school parents are projected to spend $848.90 this year and that’s up $59 from last year. Over all, it looks like back-to-school spending will reach $37.1 billion up from $33.9 billion last year. If you’re not planning on spending this much and want to find ways to spend less then check out our five back-to-school money saving tips.

Use What You Have 

Take inventory of what you already have at home. You may have leftover supplies from last year that are included on this year’s school supplies. If you find a few odds and ends like crayons or colored pencils, try to make a full set of them. Parents, if you have office supplies stored at home look and see if any of those items are on your child’s school supplies list. 

pencils, pens, stapler on table | Use What You Have
a woman with brown hair holding shopping bags | Shop During Tax Free Weekend

Shop During Tax Free Holiday 

This is a great time to purchase larger items like computers and related items like keyboards, mouses, and headphones. This year, Florida’s back-to-school tax free holiday is July 25 – August 7, 2022. It has been extended from 10 days to 14 days. For a full list of tax free items, CLICK HERE. 

Share Bulk Items

It can be tempting to buy bulk items because of the awesome prices, but chances are you won’t use all of it. Think about purchasing a bulk item and splitting the cost with a fellow student. This way you save money and end up with a little more product! 

multiple colored crayons | Share Bulk Items
Discount stickers with 50% off written on them | Look For Discounts

Look For Discounts 

Many stores offer discounts for college students and teachers. Stores like Dollar General are currently offering 30% off supplies for teachers and Apple offers special education pricing. Consider stacking deals by shopping store sales via cashback apps. and paying with gift cards from sites like Gift Card Granny. If you’re in need of free school supplies then contact your local  Salvation Army, Boys and Girls Clubs, or sites like Freecycle.com.

Consider Thrift Shopping

If you’re looking for new school clothes without high price tags then check out sites like ThreadUp and Poshmark where you’ll find deals on brand names styles for less. Check sites like Target & Old Navy for online only discounts. Additionally, check out the local thrift stores in your area, you’ll be surprised at the things you’ll find! 

Woman holding a shirt up next to a rack of clothes | Consider Thrift Shopping
A woman with long brown hair holding a stack of cash sitting at a restaurant table

If you still need assistance purchasing school supplies there are options! Launch CU offers three types of personal loans with low rates. Our personal loan options feature:

  • No application fee
  • Low rates
  • Simple interest
  • No prepayment penalties
  • Low-cost Payment Protection available

Apply Today! 

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