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(From the Financial Literacy Blog) — As summer winds down, back-to-school season is quickly approaching—and for many Maine families, it’s one of the biggest shopping events of the year. Between school supplies, clothing, shoes, technology, and extracurricular expenses, the costs of preparing for a new school year can add up fast. Fortunately, with a little planning and a few smart shopping strategies, families can stretch their budgets while making sure students have everything they need for a successful start.
Prepare for the Costs
Back-to-school shopping continues to be a significant annual expense for households across the country. According to the National Retail Federation, families with children in grades K-12 expect to spend an average of approximately $864 on back-to-school purchases this year.
While clothing, shoes, school supplies, and electronics account for much of that spending, many families are also budgeting for sports fees, extracurricular activities, lunches, and transportation throughout the school year. The good news? Retailers are already offering promotions, and many shoppers are taking advantage of early sales to spread out expenses and find the best deals.
Make Every Dollar Count
A little preparation before heading to the store can lead to meaningful savings. Start by taking inventory around your home. You may already have notebooks, binders, folders, backpacks, calculators, or clothing that can be reused. Reusing items that are still in good condition helps reduce unnecessary spending while cutting down on waste.
Before shopping, check with your child’s teacher or school for the official supply list. Focusing on the items that are truly needed can help avoid impulse purchases and prevent buying supplies that won’t be used.
It’s also worth comparing prices online before visiting stores. Many retailers offer price matching, digital coupons, cashback opportunities, and loyalty rewards that can make a noticeable difference at checkout.
For bigger-ticket items like backpacks, sports equipment, musical instruments, or clothing, don’t overlook secondhand options. Consignment shops, community sales, and online marketplaces often offer quality items at a fraction of the cost.
Families can also save by working together. Hand-me-downs and school supply swaps with friends, neighbors, or extended family help everyone stretch their budgets while giving perfectly usable items a second life.
And remember—you don’t have to buy everything before the first day of school. Some seasonal purchases, like winter coats, boots, and snow gear, can often wait until later in the fall when they’re actually needed.
Turn Shopping into a Financial Lesson
Back-to-school shopping also provides an excellent opportunity to teach children valuable money management skills. Talk with your children about creating a budget, comparing prices, and understanding the difference between needs and wants. Helping them participate in shopping decisions allows them to see firsthand how thoughtful planning leads to smarter spending.
For older children and teens, consider giving them a set spending limit for clothing or supplies and allowing them to decide how to use it. Encourage them to compare prices, look for sales, and think carefully before making purchases.
If your child earned money from a summer job or receives an allowance, you might also encourage them to contribute toward non-essential items they would like to purchase. It’s a practical way to reinforce the value of earning, saving, and making intentional financial decisions.
Start the School Year With Confidence
Back-to-school shopping doesn’t have to overwhelm your family’s budget. By planning ahead, shopping strategically, and involving children in the process, families can make the most of every dollar while building healthy financial habits that last well beyond the first day of school.
Maine’s credit unions are committed to helping members make informed financial decisions every season of the year. Whether you’re budgeting for school expenses, saving for future goals, or looking for practical financial guidance, your local credit union is here to help you and your family succeed.
