10 Clever Moves To Make Before Your Back-to-School Shopping
Written by
Marina Benitez
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Back-to-school season is just around the corner, and with a bit of savvy planning, you can avoid the chaos and instead save money and get organized. From creative DIY projects to smart financial tips, these clever moves will help you navigate back-to-school shopping like a pro.
1. Take Inventory of What You Already Have
Before you hit the stores, check what you already have at home. Go through last year’s supplies, clothes and gadgets to see what can still be used. This will help you avoid buying duplicates and save money.
Pro Tip: Involve your kids in this process to make it a fun scavenger hunt.
2. Set a Budget and Stick to It
Determine how much you’re willing to spend on back-to-school shopping. Make a list of essentials and allocate funds accordingly. Sticking to a budget will help you avoid impulse purchases and keep your spending in check.
Pro Tip: Use a budgeting app to track expenses in real-time.
3. Open a High-Yield Cash Account
To make sure your money is working for you throughout the school year, consider opening a high-yield cash account. Betterment’s Cash Reserve, a high-yield cash account, can put your money to work for you. New customers get up to variable APY* with a qualifying deposit for three months, with the standard base rate afterward (currently 4.00%) — that’s 11 times the national average**. Get startedwith as little as $10 and start letting your money earn you up to 4.50% APY.
With a high-yield cash account, your savings will grow all school year long — and you earn more than a traditional savings account. The national average savings account pays just 0.45% APY, as of July 15, 2024, according to the FDIC.
4. Shop During Sales and Use Coupons
Take advantage of back-to-school sales and special promotions. Many stores offer significant discounts on school supplies and clothing during this period. Also, look for coupons and promo codes online to maximize your savings.
Pro Tip: Use browser extensions to automatically find and apply the best coupon codes at checkout.
5. DIY Supplies for Personal Touch
Get creative and make some of your school supplies. Personalizing notebooks, pencil cases and other items can be a fun activity and save you money. There are plenty of DIY tutorials online to inspire you.
Pro Tip: Host a DIY supplies party with your kids and their friends to make it a social event.
6. Use Cashback and Reward Programs
Sign up for cashback and reward programs to earn points or cash on your purchases. Many credit cards offer cashback on specific categories, including back-to-school supplies. Check if your card has such offers and use them to your advantage.
Pro Tip: Deposit your cashback rewards into your Betterment savings account to grow your savings even faster.
7. Consider Second-Hand Options
Thrift stores, consignment shops and online marketplaces can be great places to find gently used clothes, books and even electronics at a fraction of the cost. It’s an eco-friendly and budget-friendly option.
Pro Tip: Check online communities and local social media groups for back-to-school swaps or sales.
8. Plan for Healthy Lunches
Back-to-school shopping isn’t just about supplies and clothes. Planning healthy, budget-friendly lunches can save you money and ensure your kids eat well.
Pro Tip: Prep meals in bulk and store them in reusable containers to make mornings easier.
9. Use School Supply Lists
Many schools provide lists of required supplies for the upcoming year. Use these lists to ensure you’re only buying what’s necessary.
Pro Tip: Compare the list with what you already have to avoid unnecessary purchases.
10. Start Early and Spread Out Purchases
Avoid the last-minute rush by starting your back-to-school shopping early. Spread out your purchases over a few weeks to take advantage of different sales and promotions.
Pro Tip: Set aside a small amount each week leading up to the school year to help manage expenses more effectively.
*Current promotional rate; annual percentage yield (variable) is 4.00% as of 12/27/24, plus a .50% boost available as a special offer with qualifying deposit. Terms apply; if the base APY increases or decreases, you’ll get the .50% boost on the updated rate. Cash Reserve is only available to clients of Betterment LLC, which is not a bank; and cash transfers to program banks are conducted through clients’ brokerage accounts at Betterment Securities.**The national average savings account interest rate is reported by the FDIC (as of 12/16/2024) as the average annual percentage yield (APY) for savings accounts with deposits under $100,000.
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