It's time for back-to-school - M4Money Credit Union

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Here are top tips to be back-to-school ready. This will help you save money and the stress which goes with it.

Create a budget and a list of items that you will need to get.

By creating the budget, you will know how much you have to spend plus it will help you sort out between the ‘needs’ and ‘wants’.

Once you have made your list, make sure you stick to it.

‘Shop’ around at home

After you have made your list, look around your home to see what school supplies you already have. Also, try on the school uniforms. If you are lucky, you may not have to buy anything during the hectic time and may save money for other expenses such as school trips or school lunches.

Take advantage of promotions

These could be promotional emails where there could be great back-to-school deals which will help you save money.

Also, be on the lookout for sales in stores. You may be able to pick up a bargain.

However, only purchase items if you really need them and not just because they are on offer.

Buy second-hand

Sometimes schools have a pre-loved sale where you can get second-hand textbooks and school uniforms.

For textbooks, you can even get them online via Amazon or eBay.

Reuse, reuse, reuse

School stationery such as pencil cases, backpacks, and folders can be used yearly. Therefore when you are making an initial purchase, look at the quality for longevity.

Start saving ahead of time

Open a Junior Savers Account and agree on how much your child should aim to save each month and for how long. When it’s the next back-to-school season, work together on how they will spend the money. This way you are showing them the implications of saving money, budgeting, and back-to-school costs.

If you need any help with covering the back-to-school costs, you can get our Child Benefit Loan which has a low-interest rate. Find out more.

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Money saving tips (for parents) to get ready to go back to school