In this third installment in our Back to School money saving tips series, after you start by Making a List, and then make an inventory of what you already have by shopping at home, the next critical step is to make a budget.
You only have limited money, so it’s probably not possible to buy everything you want on your list, at full price. How much can you afford to spend on back to school this year? Set a budget for clothes and school supplies before you go to the mall. If you have a fixed budget, you will be more likely to shop for bargains, and to save money.
This is also a great opportunity to show your children, in a practical way, the importance of budgeting. Your children will want the newest, coolest clothes and electronic gadgets. Now is the time to show them how to prioritize wants and needs, and to only buy what is needed.
