Back to School Money-Saving Tips: Kid Edition
By Amanda Aikman
August 17, 2015The back-to-school shopping season is a big deal for students, parents and retailers alike —second only to the Christmas/holiday shopping season in terms of revenues. From clothing to loose-leaf, backpacks to laptops, the cost of gearing up your kids for September adds up quickly. According to commercial real estate company Cadillac Fairview, in Canada, the average student will face approximately $500 in back-to-school expenses this year. For parents with two or more children this can be an especially pricey commitment.
However, as every good RFD'er knows, there are always ways to lighten the financial load. So in that spirit, we'd like to share five of our favourite back-to-school savings tricks and tip with you.
1. Host (or attend) a clothing swap
When your children seem to outgrow clothing faster than you can supply it, what do you do with the perfectly good items that no longer fit? Handing them down to younger siblings, family members, and friends is a good way to keep them from gathering dust, but a clothing swap is another eco-friendly option that can save you money and double as a fun evening with friends. Gather up some like-minded parents, have them sort through their gently worn children's clothing items, then get together and swap away. Nobody has to battle the mall, the kids can come and hang out together, and you can get some back-to-school clothing checked off your list without spending a dime, let alone $500.
2. Save your receipts for price-protection
Of course, saving your receipts is a good idea for a number of reasons: so you can see how much you're spending and stay on budget, so you can make an exchange or return if an item doesn't fit or isn't liked, and so you can wave them in your children's faces and say, "Do you see how much I've spent on you this year? Now go clean your room and make me dinner!" But price-protection is another important reason. Back-to-school sales are coming hot and heavy this time of year and the sweater you purchase for $29.99 today might be priced at $9.99 next week. At many stores you can take your receipt in and get that $20 back.
Old Navy offers a 14-day price protection policy (as well as a 90-day return policy... so after 14 days you could just return and repurchase to get the difference back), The Children's Place offers price adjustments on items purchased at full price within seven days, and The Bay and Club Monaco also allow adjustments within seven days (on non-clearance items). Over at Walmart you'll have 30 days and Best Buy takes it up a notch by offering price adjustments within 30 days even if the sale price is being offered by another retailer.
3. Score some second-hand sports gear
Enrolling in team sports can be a great experience for kids; they can learn the value of teamwork and good sportsmanship, enjoy the benefits of physical activity, and spend time interacting with others away from screens. It can also be expensive. Particularly if your child is involved in an equipment-heavy sport such as hockey or football. Purchasing second-hand gear is a great way to cut down on costs while still making sure your little athletes are safely prepared for athletic battle. Sporting-goods swaps are often held in community centres and second-hand sports stores such as Play It Again Sports, Sports Junkies, and Second Chance Sports offer quality used gear for less. You can also pick up bargains through Craigslist, Kijiji, and UsedEverywhere.com, as well as at garage sales and thrift stores.
4. Rent musical instruments instead of buying them
So Bobby has decided he's going to master the accordion and Sally fancies herself the next Jimi Hendrix. Your ears may be in trouble, but your bank balance doesn't have to be. While it's great to see kids taking an interest in music and it's wonderful to encourage them by providing them with instruments, you might want to hold off shelling out for that grand piano until they've mastered their craft (or at least not changed their mind two weeks later and decided they'd rather be a gymnast than a pianist). Music stores like Long & McQuade and Tom Lee Music offer special school-band rental programs that allow you to affordably rent to own an instrument (either monthly all year or just during the school year). If your little virtuoso decides the instrument is not for them, you can return it, cancel your contract, and stop paying.
5. Choose a trusted refurb over new electronics
For older students who require tablets, laptops, or a desktop computer for school, the expense of back-to-school season really starts to climb. While there are discounts available to students (such as these offers from Apple and Microsoft Store) another way to save on tech is by purchasing refurbished items. When purchased from a reliable retailer, refurbished products are usually as good as new ones, but come at a lower price. Refurbished products from the Apple store, for example, can be more than $300 less than their new counterparts. They are tested, certified and come with a one-year warranty, and you can also purchase AppleCare on refurbished Apple products for additional peace of mind. At Best Buy, they offer a selection of refurbished laptops at reduced prices, all of which come with a minimum 90-day warranty (or one year for all Lenovo refurbished laptops).
These days, back-to-school season may require more than a couple of number two pencils and an econo pack of bologna and brown-paper lunch bags, but if you check the weekly flyers, buy only what you need (and not what your child insists everyone else has), and follow the five tips above, you can cut back on the expense. Which is good, because holiday shopping is just around the corner!
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