Back-to-School Budget Basics: Four Tips for Navigating the Shopping Season
It’s that time of year again! The end of summer can mean lots of spending, from school supplies to new wardrobes to dorm decor for college.
Continue below for a few tips to shop for school without breaking the bank.
What’s the first thing that comes to mind when you think of back-to-school season? It could be resuming morning commutes, adopting a new schedule, or the excitement of pursuing new activities. But for many, the top priority during this time of year is shopping for school supplies, new clothes, the latest technology to help kids learn, or dorm or apartment necessities for college students.
Read below for four solutions to help you navigate back-to-school shopping while staying on budget and positioning yourself to achieve your financial goals by year’s end. Let’s create your own back-to-school savings strategy!
Tip 1: Take Inventory of the Supplies You Already Have.
There aren’t many easier ways to save money than to reuse! Clean out the bookbags, bins, and baskets to find any school supplies in good condition that can be used for the new year. Items like binders, folders, and notebooks probably still have some life and can continue to be used rather than spending money on new ones.
Compare what you find with what will be needed for your students’ grade or class. You may discover that you have a lot less shopping to do than you initially thought! From there, make a list of what you still need so you can move forward with your back-to-school shopping plan.
Tip 2: Make A Budget For Everything You Need.
Once you’ve determined what you already have that can be put to good use, make a list of what else needs to be bought. Beyond school supplies, take note of new clothes and shoes, gear for sports or other after-school activities, new technology, or dorm or apartment essentials for students heading back to college.
Categorize purchases into buckets so you can know how much will be spent for each type of item, such as supplies, clothes, and new devices. Then, research prices for all the items on your students’ lists. See if there are stores that have deals on any of the items you need or if they have any noticeable back-to-school promotions coming soon.
Creating a budget and sticking to it will help you and your family avoid any impulse purchases and stay motivated to find the best price for the products on your list.
Bonus Tip: Bring the kids into the budgeting! Challenge them to find everything they need for their school year while sticking to a budget you set for them. Small money challenges along the way will prepare them to spend and save mindfully in the future.
Tip 3: Seek Out Savings Opportunities.
Beyond finding the best price for the items you need, be on the lookout for special back-to-school sales and ways to save.
Missouri’s 2026 back-to-school tax holiday takes place August 7-9, while Illinois has a state sales tax holiday on qualifying back-to-school purchases from August 7 through August 16, 2026.
Subscribe to retailers’ emails or check their websites and social media pages to learn about upcoming back-to-school promotions, or even look for special sales ahead of the Labor Day weekend in early September. These strategies will help you find extra back-to-school savings and keep your family on budget as you cross off items on your list for the new year.
Also, think about purchasing enough supplies for the entire school year and stock up while items you need are on sale. Save yourself a shopping trip later in the school year and make sure you have enough on hand to get through May. Any unused supplies can come in handy for the following school year!
Tip 4: Track What You Spent on School Essentials.
Once all your shopping is complete, list your relevant purchases and compare them with the amounts you budgeted for each category, and analyze how you spent against your back-to-school budget. You may discover that you have found significant savings and finished below the amount you initially planned to spend on school supplies!
Tracking your spending and reviewing the budget you initially set for back-to-school season will help you learn what to expect next year and can even be an opportunity to teach kids about the importance of budgeting and strategies for saving money.
BONUS TIP: Turn back-to-school season into a time for family education on financial wellness!
This is a great time to talk about budgeting, saving money, and the difference between needs and wants! Walk through the back-to-school budget with the kids and consider setting financial goals for them to work towards during the school year, even if it is just saving $10.00 a month. Setting that goal and sticking to it can result in $100.00 saved by next summer!
They can also learn why their favorite option may not be ideal and why it’s often important to consider price and durability over style or color. This will help kids understand why they should prioritize paying for what they need before things they want, like the trendy tumbler, new character backpack, or the latest sneakers.
Lastly, it may be beneficial to bring the family together for a refresh on the importance of avoiding the risk of fraud. With the digital world evolving rapidly, it’s critical to remind kids always to report suspicious or unexpected text messages or emails and never share any personal information with people they do not know or trust. Visit Royal Banks of Missouri’s Security Corner for tips you can share with your family on how to stay vigilant against scams.
Back-to-school shopping does not have to be stressful! By setting a clear, realistic budget for school-related expenses and looking for the top back-to-school sales online and at stores near you, you can feel prepared to take on the new year without emptying your wallet.
Royal Banks of Missouri’s Online and Mobile Banking offers tools to create budgets and set financial goals so you can build your back-to-school budget easily and effectively.
Let’s cruise into an exciting new school year with confidence!
