ATLANTA, Aug. 2, 2012 (GLOBE NEWSWIRE) -- The start of a new school year is just around the corner. Unfortunately, from shoes and clothes to electronic equipment, getting ready for back to school will cost you more this year. According to the National Retail Federation (NRF), spending on back to school purchases this year will be $688.62, up nearly $85 compared to last year.
"Back-to-school shopping is costly for many families, particularly those in low- to moderate-income households," said Mechel Glass, vice president of community outreach for CredAbility. "But careful planning and some research can help you stay within your budget." It is important that families buy only what they need to get the school year started. CredAbility offers tips to help:
Make a budget and stick to it
Decide how much you will spend on school supplies ahead of time and, if possible, set aside the cash to avoid overspending. If you do use credit cards, have a plan to pay them off quickly to avoid having your school shopping cost even more.
Let your kids do the shopping
Using the school supply shopping list, establish a budget and let your kids do the "shopping." Depending on their age, you might choose a handful of items that they are responsible for picking out within their budget. Explain to them that they must purchase all the items without spending more than the budget. As they shop, help them weigh their options. They might decide that the fancier, more expensive pencil case is within reach if they choose the generic glue stick over the name brand. Consider letting them keep any leftover money as an added incentive for them to choose wisely.
Take inventory
Begin with a list of all back-to-school needs and expenses including supplies, equipment, clothing, and fees for sports, music and science labs. Next, check around the house for what your family already owns. Look for and reuse calculators, rulers, pencil sharpeners and anything else that is still in working condition. Last year's backpack may be just what is needed to start the new school year. In fact, wait just a few weeks after school starts and many backpacks and other accessories will be on sale for a fraction of the original price. Most students will not need entirely new wardrobes—just fill in the gaps with a few new outfits or uniform pieces. Well-maintained musical instruments and sports equipment are considerably less expensive than new ones.
Take advantage of sales tax holidays
In many states, parents can enjoy tax-free shopping for many school supplies, helping their back to school budget go a little further. For a list of 2012 Sales Tax Holidays by state, visit http://www.taxadmin.org/fta/rate/sales_holiday.html.
Plan your shopping
With gas prices rising again, it may not pay to go to several stores to save a few cents on school supplies. Check the newspaper and online ads and map out your shopping plan to maximize your savings and stay within your budget. While families are planning to spend slightly more on electronics this year than last, they are also using store brands to help balance their back-to-school budgets.
Shop at school
Many schools offer pre-packaged school supplies for students. Often coordinated by the PTA as a fundraiser, families can purchase supply packs from the school at costs comparable to what you would pay at a retailer. You will save time and gas by not having to shop and your child's supplies will be waiting for them on the first day of school.
Shop online and at discount retailers
Several national office supply stores are offering good online prices for school supplies. Look for free or inexpensive delivery. Outlet stores, big box stores and discount chains can save you money on uniforms and other school supplies. Check out your neighborhood consignment shops and thrift stores too. Some have designated space for school uniforms and you may get some great bargains.
About CredAbility
CredAbility is one of the leading nonprofit credit counseling and education agencies in the United States, serving clients in all 50 states plus the District of Columbia, Guam, Puerto Rico and the US Virgin Islands, in both English and Spanish. In addition, we provide in-person counseling through our branch network in five states across the southeast.
Founded in 1964, CredAbility is a family of Consumer Credit Counseling Service agencies that includes CCCS of Greater Atlanta, CCCS of Central Florida and the Florida Gulf Coast, CCCS of Palm Beach County and the Treasure Coast, CCCS of East Tennessee, CCCS of Central Mississippi and CCCS of Upstate South Carolina.
The nonprofit agency is accredited by the Council on Accreditation and is a member of the Better Business Bureau and the National Foundation for Credit Counseling (NFCC). Governed by a community-based board of directors, CredAbility is funded by creditors, clients, individual donors and grants from foundations, businesses and government agencies. Service is provided 24/7 by phone at 800.251.2227 and online at www.CredAbility.org
The CredAbility logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11910