Parents are expecting to pay more than usual for back-to-school supplies this year.
Inflation has made back-to-school shopping expensive for lots of parents– use these right tips to spend less.
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Back-to-school season can be expensive
A recent study found that most parents are expecting to pay almost $700 for school supplies this year. About 44% of those parents are planning to seek out financial assistance in order to get everything their child needs.
Inflation has made back-to-school shopping particularly expensive. In June inflation reached 9.1%, but dropped to 8.5% in July. Here are eight tips to help you spend less on school supplies:
1. Expense deduction for teachers
The IRS announced that the maximum expense deduction for teachers rose to $300. This is the first time the limit has been raised since it was created in 2002. This means that when teachers file federal income taxes, they can deduct up to $300 for out-of-pocket expenses.
2. Deals at Dollar Tree
Dollar Tree offers affordable, quality items. You can find items like:
- Pencil pouches and hard cases
- Folders
- Notebooks
- Lunchbags
These items each cost $1.25 or less.
3. $0.25 supplies at Target
Target’s school supplies shop has products starting at $0.25, and many other products that are less than $1, including:
- Binders
- Looseleaf paper
- Pens and pencils
- Erasers
- Notebooks
- Crayons, markers, and colored pencils
- Folders
School uniforms start at $5 and there are regularly sales on kids clothes and shoes.
4. Supplies less than $1 at Walmart
You can find back-to-school basics like, composition notebooks, index cards, glue, and binder divisors for all less than $1 each.
5. Ship it with Amazon
Amazon offers great prices and fast shipping. Backpacks can be found for $9.99, a 12-pack of folders for $12.34, and a pack of six spiral notebooks for $10.22. Amazon also has endless options, so you are sure to find something that will suit your child.
6. Clearance at Khols
Khols is running more than one sale on kids’ clothing and backpacks.
Some current sales include:
- 25% off kids’ socks and underwear
- Up to 40% off uniforms
- Backpacks starting at 20% off
- Up to 65% off kids’ clearance items
Until August 14 Kohls Rewards members can get an additional $10 off purchases of $50 or more.
7. Save up to 50% on technology
AntOnline sells technology and is offering up to 50% off some of the most popular items on the site. For example, the Microsoft Surface Pro 7 is being offered in a bundle for $999.99– but usually costs about $1,300.
8. Tax-free holidays
Several states are offering tax-free holidays as incentives to stimulate the economy. Each state has their own dates and items that qualify.
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