Love it or loathe it, the kids will be heading back to school shortly. And, the last thing you want is to head into the cooler months with more debt on your credit card and less money in your pocket. If you’ve left back-to-school shopping to the last minute, don’t panic. Use these tips to get through it without adding to your debt load.
Back-to-school spending continues to get more expensive every year, and a lot of Canadian parents confess that spending on back-to-school essentials is a financial burden. It’s no wonder.
School shopping comes at that awkward time between summer holidays and winter holidays. For families who are already feeling squeezed, this season can put a further strain on tight budgets or max out an already high debt load.
Lazy days at the cottage, picnics at the beach…the long days of summer are winding down and it’s time to gear up and get ready for a regular routine. But getting your kids prepared for school doesn’t mean you’ll need to buy everything on their school list all at once. Here’s where to start:
Dealing with your debt now can put you in a better position to save up in advance for all your kids’ expenses that pop up throughout the year — like birthday parties, extracurricular activities and school pizza lunches.
Flashy ads and one-day-only sales are meant to make you spend. During the school shopping season, stick to your list, avoid debt, stick to your budget and avoid buying out of panic or FOMO.
For more back-to-school tips, check out Kerry Taylor’s savings ideas on her website Squawkfox.com. You can also join us on Twitter for more tips using the hashtags #BackToSchool #DebtSolutions #ParentingTips
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