Financial Check In…Time For Back to School

Time for a financial check in! Do you love back to school time or do you hate it? This likely depends on whether or not you have kids and how many you have. If you do have kids, you know how crazy this time of year can be. It provokes all sorts of changes that include your routines, packing lunches, carpooling, homework and activities. Phew…listing those even makes me tired for all of the parents out there!

I believe that any major events in a family (and going back to school is DEFINITELY a major event) deserves a check in for a your budget too. Summertime may cost you less or more than school time depending on your family’s situation. Here are just a few ways these changes may save you or cost you money.

Childcare Or Summer Activities – Back-To-School Financial Check

First of all, if you work and your children still need supervision and care, you know what a burden this is. Maybe you pay for a sitter or traditional childcare in the summer. Obviously, when this ends you experience a huge financial obligation lifted…thank goodness! Maybe you don’t need to pay for full time care (thank you grandma), but you do invest in summer camps or extra day time activities to keep your children occupied. Have a plan for what you will do with this “extra” (haha) money when the summer is over. Some ideas are save it for the next year, put it in a holiday fund or pay off debt.

School Supplies – Back-To-School Financial Check

As many of you know, these lists are not so simple anymore. It is likely this request list from the school or teacher will include Kleenex, paper or shared supplies. Try to shop in bulk for these items. Another idea is to throw in an extra Kleenex box and can of anti-bacterial wipes in your cart when you shop throughout the summer. You will be stocked up and ready to go when the school year begins.

Fall Fashion & Growth Spurts – Back-To-School Financial Check

There is a lot of pressure for kids to look their best when school starts. For some children, that may mean the newest trends. For others, they have outgrown their polo shirts and their pants are three inches short! Buying some staples prior to starting school is a fun tradition for many kids. Keep in mind how fast they change their minds though. They don’t even know what all their friends are wearing yet! A friend of mind takes her kids back to school shopping in October. I think it’s a great idea, because the kids know more about what they want to wear. Let’s face it…if they want to wear it, they will wear it. That is one less battle to fight!