Back to School, Back to Budget

A new school year means new routines and plenty of new expenses. Between supplies, clothes, activity fees and lunches, back-to-school season can put pressure on a household budget. A little planning can help keep those costs manageable.

Shop With a Plan

Before heading to the store, take inventory at home. Last year's backpacks, binders and other supplies may still have plenty of life left.

Then make a list, separate needs from wants and set a spending limit. Having a budget before you shop can make it easier to avoid impulse purchases and decide where it's worth spending a little more.

Plan Beyond the First Day

School expenses don't stop after the first bell. Sports, clubs, field trips, photos and other activities can add up throughout the year.

Consider adding a school-expenses category to your monthly budget. Setting aside even a small amount regularly can make those future costs easier to handle.

Turn Shopping Into a Money Lesson

Back-to-school shopping can also help kids practice smart money habits. Give younger students a small supply budget or ask older students to compare prices and discounts. Everyday decisions can teach valuable lessons about needs, wants and trade-offs.

Give Your Budget a Fresh Start

As your family's routine changes, revisit your overall budget. You may be spending more on transportation or lunches and less in other areas. Look for opportunities to adjust your spending, build savings or work toward another financial goal.

Back-to-school season will always bring expenses, but they don't have to catch you off guard. A little preparation today can help your family start the school year and your budget on the right foot.