11 Back-to-School Hacks to Beat Inflation

1. Set a budget and stick to it.

Begin by establishing a practical budget for your back-to-school shopping. To do this, make a list of essential items and allocate a specific amount for each category, such as clothing, supplies, and electronics. Make sure your budget is generous enough to cover all purchases, but tight enough to avoid debt. This will help you prevent impulse purchases and stay within your financial limits. For help creating a budget, check out our financial education module.

2. Plan ahead and pace yourself.

One of the best ways to save money is to start shopping early. This will enable you to take advantage of sales and avoid the last-minute rush when prices may be higher. For example, you can pick up pencils when they’re on sale at Walmart one week and paper from Target when it is marked down there. Spreading your purchases over time will also make it easier on your budget. 

3. Evaluate your existing supplies.

Before heading to the stores, check out the inventory of supplies and clothes you already have at home. Often, last year’s items can be reused or repurposed. Check closets, drawers, storage bins, and last year’s backpacks for notebooks, pens, pencils, and other supplies. This can help you avoid buying more of what you already have and save a significant amount of money. Lastly, it’s a good idea to check with your children’s teachers to see if any supplies are already provided so you don’t spend money unnecessarily.

4. Shop during promotions and with coupons.

Many retailers are offering back-to-school promotions, where certain items are on sale. Plan your shopping around these sales to maximize your savings. Combine sales with coupons or loyalty programs from stores for even better deals.

For example, Meijer provides special discounts and rewards when you sign up for their mPerks program. Plus, you can visit the Meijer website to check out their deals ahead of time, and access their School Supply List, which provides the list of requested supplies for many schools in Indiana and Michigan.

5. Buy in bulk or split the cost.

For commonly needed items, like notebooks, pens, and paper, buying them in bulk can be more cost-effective than traditional shopping. You can generally find discounts on bulk purchases at warehouse stores and office supply retailers. To save even more, you can team up with other parents and split the costs. 

6. Use price comparison tools.

Harness the power of technology to find the best deals as you shop for school supplies, gear, and clothing this season. A price-comparison website or app, like Honey or RetailMeNot, will automatically compare prices across different retailers to find you the best deal. Many will also find promo codes and coupons for you to save you both time and money. 

7. Explore secondhand options.

Thrift stores, consignment shops, and online marketplaces, like eBay and Facebook Marketplace, can be treasure troves for gently used clothing, backpacks, and other school supplies. Check out these places for high-quality items at a fraction of the cost of new ones. For textbooks, check out websites, like Chegg or ThriftBooks, for used or rental options.

8. Choose quality over quantity.

While it might be tempting to buy the cheapest option available, investing in high-quality items can be the least costly choice in the long run. Durable backpacks, sturdy shoes, and long-lasting electronics might have higher upfront costs, but they will likely outlive their less-expensive counterparts and save you money over time.

9. Take advantage of student discounts.

Many retailers offer student discounts on a variety of items, from clothing to electronics. Check out the sites of your favorite retailers to see what they offer before completing a purchase. Don’t shy away from asking about possible student discounts in stores, either. You may need to provide a student ID or use a promo code to access these discounts, but a simple question can yield significant savings. 

10. Research local giveaways.

Do a little research online for back-to-school programs near you. Various nonprofits and churches throughout your community may host giveaway events to ensure families in need have essential resources and school supplies this school year.

11. Leverage cashback and rewards programs.

If you’re an Everwise member, you can earn a 0.5% cash back rebate on non-PIN purchases when you use your Everwise Debit Mastercard®.* These reward dollars can be saved all year, and then used to purchase essential supplies during the back-to-school season. And with Everwise Mobile & Online Banking, you can conveniently monitor spending activity, track rebate progress, and decide when to cash out your rewards, making financial management simpler and more efficient.

Many credit cards also offer cashback or rewards on purchases to get a little extra back for your spending. However, only do this if you know you can pay off the credit card bill in full soon after. Otherwise, the interest charges you’ll be paying going forward will likely offset any benefits you may enjoy. If you are looking to rack up rewards, Everwise’s Visa® Signature Rewards credit card is a great option to consider.

Back-to-school season doesn’t have to break the bank — even during times of rampant inflation. Use these hacks to get through the season with your budget intact. 

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