A Parent's Guide to Back-to-School Savings Now So August Doesn't Wreck You
Back-to-school shopping has a way of sneaking up on families and straining budgets. The good news is that taking action early also gives parents more time to shop sales and compare prices.
These savings strategies can help make the back-to-school season easier on both your wallet and your peace of mind.
Check Out: 10 Target Shopping Hacks That Will Save You Tons Immediately
Read Next: 9 Subtly Genius Things All Wealthy People Do With Their Money — That You Should Do, Too
List of Expenses Needed
Knowing what your child will need for back-to-school will help you determine how much to save beforehand. According to the National Retail Federation, parents of children in grades K-12 planned to spend a little more than $850 in 2025. This cost consisted of school supplies, apparel and electronics.
Check your local school’s supply list for the needed items. Some stores like Walmart can help you locate your child’s school supply list online by entering your ZIP code. Print out the list to keep handy for researching the cost of each item.
Also add clothing items, shoes and electronics needed to the supply list and include how many.
Research Prices
While doing research on the cost of supplies and apparel needed, look for sales, discounts or bulk specials. According to Thrivent, some stores have price matching with competitors. Check local thrift stores for general items at lower prices. Sometimes, purchasing items online can save money compared to in-store prices. Consider checking the end-of-season sales for apparel.
Create a Back-to-School Budget
Once you have done your research and added up the cost, start creating your budget. Depending on the total amount you want to save, set aside a small portion of your paycheck each month for the budget.
If the total amount is $900, then set aside $75 a month for 12 months as your savings goal. If you prefer to have a weekly savings goal, you would need $19 a week for 48 weeks to reach a goal of $900. Your budget will ultimately depend on how many children you have, the grade level and the specific needs of each child.
Education Savings Accounts
Some financial institutions offer education savings accounts. The 529 plan is normally used for saving for college but can also be used to save for grades K-12. Withdrawals for qualified education expenses from this savings plan are usually tax-free but ask about your state’s 529 plan investment portfolio.
The Coverdell ESA is a type of trust fund for a child or beneficiary to help pay for education expenses. Check with your financial institution to learn more about the Coverdell ESA.
Other Ways To Save
If there are some items that can be reused from the previous school year (e.g., binders or computers), those will also help save money. Your child may be able to receive pre-used items from siblings or friends.
Some states offer tax-free days, usually during the back-to-school shopping season. Shop during the year for apparel or electronics on sale during Black Friday or after holiday sales. Online stores often have promo codes or coupons that can be used towards back-to-school necessities. Some towns host school supply drives that offer free items.
Check credit cards for rewards or cashback options that could be used towards back-to-school purchases.
Summer spending adds up fast. Enter MoneyLion's Summer Break Giveaway for a chance to win $500— and give your budget a break. (No pur. nec. Ends 7/4/26. See Official Rules at mlion.info/summerbreakofficialrules)
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
More From MoneyLion: