As the back-to-school season approaches, parents across the country seek ways to manage the financial burden of school supplies. A recent study by Talker Research, commissioned by Krazy Coupon Lady, surveyed 2,000 parents of elementary school-aged children between July 1 and July 8, 2024. The survey used online access panels, where parents opted in for open-ended discussions to obtain all the relevant data for this research.
Using the above survey as a guide, we’ve compiled a list of strategies for helping parents save money on school supplies.
Purchasing School Supplies Whenever They Go on Sale
One of the most effective strategies parents use to save on school supplies is buying items whenever they go on sale. According to the National Retail Federation NRF’s latest 2024 report, an average US family spends about $864 on back-to-school items. Parents with a keen eye for the latest exclusive sale on school supplies can save significantly. As per the data showcased by the Talker Research, 49% of parents take advantage of these sales throughout the year to cut costs. This approach allows families to spread their expenses and avoid the last-minute rush.
Shopping at Multiple Stores for Best Deals
Parents often shop at multiple stores to find the best deals on school supplies, as 45% reported in the Talker Research survey. This strategy allows them to compare prices and take advantage of various promotions, ensuring they get the most value for their money. To maximize their savings, families plan to visit multiple stores in different locations during the back-to-school season. This approach helps in significantly reducing the overall cost of school essentials.
Buy In Bulk
Buying school supplies in bulk is a proven strategy to save money. Families can save significantly on school supplies by purchasing items in larger quantities. This approach reduces the per-unit cost of essentials like notebooks, pencils, and pens. Stores like Costco and Sam’s Club offer bulk buying options that significantly lower expenses for back-to-school shopping. Parents also benefit from less frequent shopping trips, saving both time and money throughout the school year.
Extreme Couponing
Extreme couponing involves meticulous planning and the strategic use of multiple coupons to maximize savings on school supplies. According to the Talker Research survey, 22% of parents engage in extreme couponing as a strategic way to manage back-to-school expenses. This method can save families hundreds of dollars annually. For instance, Krazy Coupon Lady offers numerous resources and tips for parents looking to make the most of their coupons.
Join Buy-Nothing Groups
Joining buy-nothing groups on social media can be a highly effective way to save money on school supplies. These groups, found on platforms like Facebook, allow parents to give and receive gently used supplies, reducing the need for new purchases. Such exchanges help with cost savings and promote sustainability by reusing items that would otherwise go to waste.
Buy Used or Refurbished Items
Purchasing used or refurbished school supplies can lead to significant savings. Thrift stores, online marketplaces like eBay, and refurbished electronics sites provide quality items at a fraction of the original price. For example, refurbished laptops can cost less than new ones, making technology more affordable for students. Embracing this strategy can help parents stretch their budgets further while ensuring their children have the necessary supplies.
Utilize Rewards Programs
Utilizing rewards programs can significantly reduce the cost of school supplies. Many retailers offer reward or loyalty programs that provide discounts, reward points, or cashback that can be redeemed for future purchases. For instance, Staples Rewards gives 5% back in rewards on every purchase and offers special discounts throughout the year. According to a survey by Accenture, 77% of consumers participate in retail loyalty programs, demonstrating their widespread use and potential for savings.
Trading Supplies with Other Parents
Trading supplies with other parents is an effective strategy to reduce back-to-school costs. As per the Talker Research survey, 9% of parents participate in supply swaps to save money. This method allows families to exchange surplus items, ensuring that each child has the necessary supplies without additional purchases. Swapping supplies like this is definitely a practical solution to curb expenses. This approach not only cuts costs but also promotes community support among parents.
Dumpster Diving
Dumpster diving has emerged as an unconventional yet effective strategy for parents looking to save on school supplies. The practice involves searching through dumpsters and trash bins for usable items that have been discarded. This approach is not only cost-effective but also environmentally friendly, as it promotes the reuse of items that would otherwise contribute to waste. However, it’s essential to follow local laws and safety guidelines when engaging in dumpster diving.
Do It Yourself
Creating school supplies on your own can significantly reduce costs for parents. Simple projects like homemade notebooks, pencil cases, and binders not only cut expenses but also encourage creativity. Sites like Pinterest and DIY blogs provide numerous ideas and tutorials, making it easier for parents to get started. This approach is both economical and engaging, offering a practical way to manage back-to-school budgets.
Take Advantage of Tax-Free Weekends
One effective strategy parents use to save on school supplies is to shop during tax-free weekends. According to the Federation of Tax Administrators (FTA), 17 states in the U.S. offer tax-free holidays where certain items, including school supplies, are exempt from sales tax. For example, as per the 2024 report published by Nerdwallet, Florida offers a two-week tax-free period from July 29 to August 11, 2024, covering school supplies up to $50, clothing up to $100, and computers up to $1,500.
Reuse Supplies From Previous Years
Using the previous year’s supplies is a practical strategy that many parents adopt to save money on school supplies. By purchasing school supplies in bulk for one year, parents can save a lot for the next year as well. As per the data from the Talker Research survey, at least 37% of U.S. Parents save school supplies throughout the year. This helps them effectively manage their expenses without putting too much strain on their child’s education. Reusing back-to-school items like backpacks, lunch boxes, and stationery that are still in good condition is very helpful.
