The thrill of a shopping victory comes not when you find precious medals hanging around your neck but when you can see that grossly disproportionate number at the bottom of your receipt telling you just how much you saved. You totally know what I’m talking about. It’s the kind of receipt that makes you want to show it to both the people in front and behind you in line as well as the greeter at the door. It’s the kind of receipt that invokes an embarrassing mom dance in the parking lot. And it’s the first thing you show your spouse when you see them next.
Don’t keep all of that giddy pride to yourself. Back to School time is the perfect opportunity for you to teach your tween how to handle money well. It requires both patience on your part as well as relinquishing control, but the byproduct is a gold medal money savvy kid who learns that each penny counts. Here are 5 Tips for Scoring a Perfect 10 in Back to School Shopping.
1} Help your tween evaluate his or her needs for back to school. This means you’ll need to block off the afternoon to first clear through the closet and drawers, taking inventory of what fits, what doesn’t, and what you can re-use from last year. After you have a good handle on sizes {and a nice stack of things to donate or hand down that no longer fit}, compile a list of needs. Be sure to have a good handle not just on clothes but on school supplies, too. Things like rulers, scissors, backpacks, lunch boxes, and even USB drives usually have a life of 2-3 years.
2} Set a cash budget. This is especially true for clothes but can even be applied to school supplies. Based on what you’ve spent in the past and what your needs truly are, go to the ATM and pull out EXACTLY what you plan on spending. Plastic {even debit} will always cause you to spend more. It’s best to have separate categories for supplies and clothes. That way you’ve still got plenty of money for pencils even after the cute new outfit.
3} Narrow your shopping venues and clip coupons. You need a plan of attack. Don’t just wander the mall. Before you leave your house, google the names of stores along with the word “coupon” to see what’s available. Places like Target have printable coupons for clothes, too.
4} Check out the clearance. Most schools start when hot weather is still preeminent. Don’t buy sweaters and jeans, check out capris, shorts, and ts. The first two months will give plenty of times for the true fall and winter clothing to come down a price point and even go on clearance. You can choose something spiffy for the 1st Official Day {here it doubles as the Picture Day attire, too} that looks more fallish, but for everyday wear, choose clearance first.
5} Give them guidelines and set them free. It’s time for the little bird to fly from the nest. If you let them know that it’s their money to spend, they might have a different attitude than if you’re signing the check. So if the list calls for 3 pair of pants, 2 tops, and some new socks, let. them. choose. This is extremely hard exercise as a parent but it will make them really begin to realize that sometimes you have to choose between a pair of expensive jeans or 2 off brand pair. Obviously, you’ll need to help them navigate your school’s dress code {and perhaps your own household possibly more strict dress code}. Let’s be really clear, they are going to totally make a misstep at some point and have to live with it. You will not be sent to parent prison or turned into CPS. This is some valuable life learning.
How do you help your Tween navigate the Back to School aisles?
For more Royal Money Saving Back to School Tips, check out:
