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Press Release
Monday, August 13, 2007
Be Smart When Back-to-School Shopping
Make the grade for successful school shopping with these tips from CCCS Dallas
Dallas - August 13, 2007 - The smell of new books, the hum of a pencil sharpener - it must be back-to-school time. With these nostalgic memories far behind us, this time of year has become an expensive annual tradition of shopping for school supplies, trendy outfits and the latest gadgets for our children.
According to the National Retail Federation's 2007 Consumer Intentions and Actions Back-to-School survey, conducted by BIGresearch, families with school-age children are expected to spend $563.49 on back-to-school merchandise, up 6.9 percent from last year's $527.08 average. Total back-to-school spending this year is expected to reach $18.4 billion.
But, back-to-school shopping doesn't have to break the bank. By planning ahead, there are plenty of ways to be a smart shopper. Consumer Credit Counseling Service of Greater Dallas (CCCS Dallas) suggests the following tips for parents as they prepare for the upcoming school year.
Start with a plan. Start by taking inventory of what you currently have at home. Every school provides a school supply list, so be sure to purchase only what is necessary. Use this as your reference and stick to your list of essentials. As the year goes on, you can always purchase items as needed.
Budgeting is key! CCCS Dallas recommends developing a budget and sticking to it. (The media is making a big deal of gas prices declining, so I thought we should take this out.) If your kids are old enough to shop on their own, consider this a teachable moment. One way to limit their spending by issuing them a pre-paid gift card. You can not only monitor where your kids shop, but can restrict their spending amounts, both in-store and online. This is a great opportunity for them to learn how to budget with a limited amount of money. Give them a list of essential items. If they're successful in finding sales and have money left over, award them buy allowing them to spend the remaining money on something they really want.
Don't get taken advantage by tax-free weekend. Tax-free savings means just that: saving the sales tax on your purchases. This doesn't really make going on a spending spree worthwhile. The normal person doesn't rush to the store for a 10% off sale, so why the frenzy over tax-free? Additionally, tax-free weekend usually means large crowds and shopping stress, meaning you may buy things you don't need because you're in a rush. There's nothing wrong with buying things tax free if you're going to purchase them anyway, but be careful not to spend money just to save the amount of tax.
Have a clothes-swapping party with friends. Remember that kids grow quickly, particular younger ones. If you have friends with children a year younger or older, see if you can buy their gently worn hand-me-downs. This saves you money and younger kids usually enjoy wearing an older child's clothes. Teens can double their wardrobe by periodically swapping with a friend or relative in another city.
Buy in bulk. Buying supplies like pens or notebooks in large quantities saves you money in the long run. If this overwhelms you, join up with a friend and split the costs and supplies all your children will use.
Research and shop online. Save time and money. Stores often put their best sales online. It's also a great way to compare prices at brick and mortar stores before you ever leave home. With access to countless stores at your fingertips, you can estimate your spending and cross items off of your list in no time. However, watch out for expensive shipping charges, identity theft and credit card fraud. Protect yourself by making sure the online transactions are secure, and when in doubt, pick up the phone and call the toll-free number.
Don't cram - you still have time. You don't need to buy everything before school starts. Once kids see what others are using and wearing, they always seem to have additional wants and needs. Plus sales usually extend into the first month of school.
Rest-assured that with a well thought-out plan, you and your kids will be ready for the upcoming school year while staying within the family budget.
CCCS Dallas offers additional tips about how to be a smart back-to-school shopper, including helpful financial education courses for families free of charge. For more information, please visit www.cccs.net or call 1-800-249-2227.
About CCCS of Greater Dallas
Consumer Credit Counseling Service of Greater Dallas, Inc. (CCCS Dallas) is a non-profit, community based credit and debt management service. Established in 1974, CCCS Dallas and its affiliate offices provide financial education and counseling to consumers in-person, by phone or Internet through their 24 locations in four states. CCCS Dallas is a member of the National Foundation for Credit Counseling (NFCC), the nation's largest and longest serving national non-profit credit counseling network. For more information on CCCS Dallas, visit www.cccs.net.
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