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Send the kids back to school without blowing the budget

The start of a school year can be a very expensive and stressful time for Aussie parents.

The start of a school year can be a very expensive and stressful time for Aussie parents.

A recent study by Heritage Bank found that the average primary school family spent around $600 in the lead up to the start of the school term.

With the axing of the Schoolkids Bonus late last year, many parents are feeling the extra pinch as they now need to cover the full costs of back to school supplies.

However, parents can alleviate some of the financial pressures by being more strategic with their purchases.

Here are a few tips for the back-to-school period:

Check your current supplies at home

Before you go shopping, you should have a look and see what supplies you already have at home. You may be surprised to find that you may not have to buy as much as you thought you needed to. If you have more than one child, don't be afraid of using older items as hand-me-downs, especially if they are still working or in good condition.

Focus on quality

While you should aim to buy the most affordable products that are priced within your budget, in some cases, it may be a good idea to spend extra for quality and longevity. For example, instead of buying a cheap quality backpack, pay a bit more for a bag with a warranty that can potentially last your child a few years. It will mean there will be one less item to put on your list next year.

Buy in bulk

In some stores, you can get buy multiple items - such as exercise books and pens – in bulk, and you should take advantage of these offers. Not only will you make a saving, but you won't have to make another trip to the shops down the track to stock up on supplies.

Posted in: Lifestyle

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