Avoid Back to School Credit Card Debt

Back to school shopping is the second largest consumer spending event for retailers. In fact, it’s even loosely used as a predictor for the holiday season.

Now more than ever kids feel pressured to keep up trends, including clothes, technology, school supplies, and whatever else is considered a “must-have” for the coming school year.

On average, parents spend a little over $300 for clothes, shoes and accessories for elementary school kids. And for middle and high schoolers that number jumps to $360. Electronics and computer needs for elementary school students cost about $178. For middle and high school students that number jumps to $230. School supplies for elementary, middle and high school students all come in at about $95-$100.

29% of households with kids age 6-17 plan on spending more than they did last year, and the same is true for college students and their families.

Here are some tips and tricks on how to save money going back to school this year, regardless of the grade:

• Before you go clothes shopping inventory the kids’ closets first. See what works from last year and only buy the things they really need.
• Also always check out the summer clearance sales first before you go to full price items.
• Avoid buying trends. If your kids insist on buying a couple of trendy items have them work for it or use their own money.
• Also, don’t shop all at once. Buy what you need to start the school year, and then slowly add pieces as the fall and winter clothes go on sale.

When it’s time to go shopping for electronics:

• Make sure you buy what your child needs, not what they want, and consider getting warranties.
• Make sure the warranty covers accidental damage and not just manufacturer defects.
• And also, avoid buying the latest smartphones; they’re really not necessary for going back to school

Buying school supplies can be a lot of fun but it can get expensive:

• So it’s important to check the published list of school supplies from your child’s school. The list will narrow what you really need to buy
• And don’t forget to inventory leftover school supplies from last year
• And remember to only buy in bulk items that the kids will use a lot of, like paper, pencils and pens.