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Back to School Savings - Deals for Back to School

Be Smart and Save Money: 5 Tips for Back to School Shopping

First and foremost, when you’re shopping for back to school supplies, make sure you know what you have. Go through your kids’ rooms and take inventory of their clothing and any supplies they might have laying around. Clean out old backpacks and school bags. Take stock of supplies in your home office, in your kitchen drawers, in the hall closet. This way, you won’t continue to buy a protractor every year when you have a forgotten pile of them tucked away somewhere in your house.

Once you have a list of what you already have, you’ll be more focused on what you need. Using your inventory list, create a new list of items your kids absolutely need for the upcoming school year. Make copies of your finalized need list and give them to everyone in your family. If you and your family are tech-savvy, consider creating a shared google doc, or something of the like, so that you and your children can edit it together. This way, there should be no confusion on what’s been purchased and what you still need to buy.

Start buying early and plan your time

Planning ahead is really the best way to save money on back to school shopping. If you start looking at supplies and prices early, you’ll be better equipped to recognize and take advantage of the best sale prices.

Also, if you make a plan ahead of time, deciding which stores you and your kids will need to visit to get their supplies, you can track those stores easily by subscribing to their Facebook pages or Twitter feeds. Often, stores will post reminders of sales or even surprise offers to their subscribers. Following these stores early and often will help you get the most for your money.

Another benefit to starting your shopping early is the option of shopping online. Many times, you can find great deals shopping on Amazon, Overstock, even eBay or Craigslist. And, some stores offer online specific sales with better deals than you can find in store. So, don’t wait until the last week of summer to scramble and get your kids their supplies! Give yourself time to browse the internet too, and leave plenty of time for the great deals you find to be shipped to you.

Shop Tax Free Weekend and End of Summer Sales (but beware…)

Shopping on tax free weekend and during end of summer sales can be great ways to save money on back to school supplies. Parents should absolutely be aware of when tax free shopping occurs, and they should keep track of when their (and their kids’) favorite stores hold their end of summer sales.

However, it’s also a good idea to be critical of these seemingly fabulous sales. I worked at Old Navy throughout my high school and college years, so I have firsthand knowledge of some of the sneakier sides to summer sales. For example, sometimes stores will mark their prices up to full value during tax-free weekends, and other stores will actually run better sales before and after the big advertised “summer sale.” So be wary of the sales you see, and take the extra time to determine whether you’re getting the best deal. Don’t be fooled by the “tax-free” excitement of saving 7% on a shirt that costs $25 when it will be 50% off during next week’s less advertised sale.

Avoid unnecessaries and compromise with your kids

Fancy pencil pouches? Your kid has a backpack… that’s a pencil pouch right there. Cute, trendy, or graphic covered binders that cost 4x the amount of a regular, plain, binder? Who needs it? Chances are, your kid is going to either stuff some papers in there to keep for later, draw on it with markers or pens, or never take it out of his/her locker. Cutting down on the unnecessary items your kid wants but doesn’t need is a surefire way to save money.

But, if your son really wants the expensive backpack with a built in organizer, a hard-case pocket for his laptop, and a cool design on the front, compromise with him. If your daughter will not stop asking for the Vera Wang lunch bag she saw online the other day, compromise with her. Strike up a deal that they have to pay the difference between the backpack or lunch bag you want to buy for them and the one they want. They could cover this difference using saved up holiday money, allowance money, or by doing extra chores.

Be wary of teacher required lists

This last tip is a little variable, but here’s a secret from someone who’s taught high school for the past 5 years: Take our “required” school supply lists with a grain of salt. Again, this is the experience of just one teacher, but honestly, sometimes we don’t even know what our students will need for the entire year. My best advice is to buy the basics: pens, pencils, paper. Your child will always need something to write with and something to write on, but hold off on any excess- colored pencils, glue sticks, a binder for each class, rulers, etc.- until you know exactly what they’ll be using on a day-to-day basis

 

Allowances: The Good, The Bad, The Ugly

The way I see it, there are three main options for giving your kids an allowance.

Option One: Give them an automatic allowance. With automatic allowances, parents will usually set a standard amount of money for their kids to receive, weekly, bi-monthly, or monthly, and their child will receive that money no matter what (for the most part, of course).

Option Two: Don’t give your kids any allowance at all: self-explanatory.

Option Three: Have your kids earn an allowance. Many parents use this option and assign certain tasks or chores to their child, which upon completion, will result in a rewarded allowance. Of course, you’ll find pros and cons of any decision you make as a parent, including the decision about allowances. However, out of these three main options, I think there is a clear, front-runner that is beneficial for both parents and children.

Through the course of my life, and my more recent research and inquiries into this topic, I have been exposed to numerous variations of the allowance situation. Two stories stuck with me, though, as extreme, yet surprisingly realistic examples of the negative consequences of giving your kids an automated allowance or not giving them an allowance at all.

Extreme Scenario #1: The Jean-Ralphio and Mona-Lisa Saperstein Story

Parks and Recreation is a sit-com that recently went off the air in 2015. It follows the quirky and endearing Parks and Rec. department of Pawnee, Indiana through the trials, tribulations, and triumphs of life.  While most of the characters are lovable and good-hearted people at their core, there are two characters, Mona-Lisa and Jean-Ralphio Saperstein, who should serve as a warning to any parent considering the automatic allowance option. Mona-Lisa and Jean-Ralphio come from a rich family, headed by a father who clearly does not regulate the money they receive.  It is quite evident that, in their fictional lives, they’ve probably never heard the word “no” before as a response to any request, thus resulting in their annoying and outrageous request of “Money please!” This demand is made often, without remorse, and almost rarely without an affirmative answer from their father. They are so used to receiving money whenever they want, automatically and without any effort, that they perfectly illustrate an extreme consequence of giving your kids an automatic, no-strings-attached allowance.

While this is obviously an extreme example, taken from a fictional TV show, there is some real truth that lies at the core of Mona-Lisa and Jean-Ralphio’s roles. If you don’t require any effort from your children in order for them to receive their allowance, then what’s to stop them from taking it for granted? What lesson will they learn about how to get money? Will they turn out like Mon- Lisa and Jean-Ralphio, assuming that all they need to do in order to get money is sit around and wait for it, and then if it’s not enough, just whine until they get more? Do you, as a parent, really want to hear “Money please!” all the time, even after you’ve already given your child money? I don’t think so.

Extreme Scenario #2: No Allowance: The Story of Put-Back Pancakes

My aunt and uncle adhere to a much different philosophy than that of fictional father, Dr. Saperstein, from Parks and Rec.  They didn’t believe in giving their kids an allowance at all. So, my cousin, let’s call him Jim, had to figure out another way to get money. As many teenagers do, Jim turned to the job force and got a part-time job as a carhop at Sonic. He worked at Sonic all 4 years of high school, and in this time, he learned to budget and save his money since he knew his parents weren’t going to be his main source of income. So far, so good, right?

In almost every way, my cousin is a perfect example of how not giving your kids an allowance is a good option. He learned the value of hard work. He didn’t bother his parents for money all the time. He had a good head on his shoulders and was able to understand the basic principle of saving money, which is advanced for a teenager. However, there are two things wrong with this story. Number one, my cousin is an anomaly. He represents a small population of teenagers who are stable and level-headed enough to make these responsible decisions, like finding and maintaining a job and saving the money he made at this job. Other teens may not be as dedicated as he was to earning and saving money during those carefree, teenage years.

The second thing wrong with my cousin’s story is the end. Jim managed to save more money during his high school years than I think most high schoolers could even comprehend. But, this resulted in him being extremely stingy with his money, to a fault. Perfect example: his honeymoon. After my cousin got married, he and his wife vacationed in Mexico for their honeymoon. One morning, at breakfast, Jim piled his plate high with food from the buffet, taking full advantage of an “all you can eat” meal. However, before he went to sit down to his feast, he was stopped by the cashier at the end of the line who told him that breakfast was not actually included in his room rate and that he’d need to shell out a rather hefty sum for his overloaded plate. My cousin, the too-money conscious man that he’d become, looked at the cashier, turned around, and dumped his food back in each, individual serving pan from which he’d taken it just minutes before.

The moral of Jim’s story is this: not giving your kids an allowance might be a good idea. They might find a job, work hard for their money, and learn valuable lessons about managing their own finances. Or, they might end up like my cousin, dumping pancakes and scrambled eggs back into hot plates in Mexico, effectively embarrassing himself and his new wife on what should’ve been a lovely honeymoon.

Solution:

So, what do you do as a parent then? Ultimately, the decision is up to you and what you think is best for your family. However, considering the pros and cons of each side, setting up a system for your kids to earn their allowance seems like the best, least painful, and most beneficial way to go. By having to earn their allowance, kids will hopefully learn the lesson of working for what they get. Ideally, they’d value their money more because they had to work for it, thereby making them more conscious about spending and saving. And finally, the system of working for their money at home will mirror their future, independent lives when they have to work for their paychecks and balance their adult finances. Exposing your kids now to the realities of money management and working to earn their money is an invaluable experience, and you can easily start by implementing an earned allowance policy in your house today!

(photo courtesy © Carissa Rogers cc2.0)

These are the Most Parent-Friendly Brands that Teens Love

“Teen tested. Mom and dad approved.”

Buying clothing for your teenager, or approving their purchases, is all about compromise. It is important to strike a balance between how you want your teen to dress and how your teen wants to dress. We’ve rounded up a list of clothing brands that accomplish just that. They offer clothes that are stylish, age appropriate, and affordable.

  1. H&M: A massive Swedish fast fashion brand, H&M is a step above Forever 21 (a highly similar brand). It offers runway-inspired clothing at affordable prices. It also has regular high fashion collaborations, most recently with Balmain.
  2. Forever 21: Perhaps a slight cut-below H&M in terms of quality, Forever 21 is beloved by many a mother and teen alike because it offers trendy fashions at highly affordable prices. Visit twice in the same week, and you’re still likely to find something new on the second go-around.
  3. American Eagle: This brand has been a go-to for teens for quite some time. It has a nice selection of highly wearable looks and quality-made basics.
  4. Madewell: One of my personal favorites, Madewell is well-suited to the teen who likes to dress like she’s “13 going on 30.” It can be a bit on the pricier side, but regularly has sales. They also have an amazing selection of fun-yet-mature clothes.
  5. Urban Outfitters: Long synonymous with “hipster,” Urban Outfitters offers trendy apparel of a different vintage (quite literally) than H&M or Forever 21. In addition to a wide assortment of clothes, Urban also sells décor, accessories, and footwear.
  6. Free People: Much like Urban Outfitters, Free People appeals to the teenager who wants to rock more of a bohemian, free-flowing look. While its prices do tend to run rather high, a savvy shopper can typically find items that have been substantially marked down at stores like Neiman Marcus Last Call and Nordstrom Rack.
  7. J.Crew: Much like Madewell, J.Crew appeals to the teen who likes to rock a more sophisticated and mature style. J.Crew has a wide variety of staples that you will want to keep in your wardrobe for years to come.
  8. Nike: Athletic wear is no longer only for the gym. On any given day, at least half of the students in my classes are decked out in some sort of athletic wear (and something tells me they didn’t all just come from the gym). Nike is the largest apparel retailer in the United States, constantly producing new, brightly-colored fashions.
  9. Topshop: Topshop is all about quantity (and it does so without sacrificing quality). It has a wide selection of hip, of-the-moment clothes. Like H&M, it also frequently does collaborations with famous figures, such as Kate Moss, and other stores, such as Nordstrom.
  10. Brandy Melville: I first learned of Brandy Melville when my younger sister diverted a family vacation to visit one of its stores (yes, apparently their clothes are that cool). Brandy Melville is known for offering “one size fits all” fashions that cater to a simple and carefree look. Its staples include crop tops, cut-off denim shorts, and loose-fitting tops. It is an Italian company, so their retail locations are a bit hard to come by in the United States, but ordering online is always an option. And with only one size to choose from, why not?