It's hard to believe it's Back to School season already!
In just a few short weeks, students will be going back to school for another exciting year of learning, growth and development.
CommonWealth One is invested in your student's education in a lot of ways. While you're running around collecting school supplies, be sure to stop by a CommonWealth One branch and set up a savings account for your student! Our kid-friendly accounts come with educational tools for kids and user-friendly parental controls! We're excited to help your student's year get started on the right foot!
You're probably already seeing displays at local stores with pencils, notebooks and more. According to the National Retail Federation, families with children in elementary through high school could spend an average of $890 on school supplies.
But how do you know that you're getting the best deal on the items on your supplies list? Here are 10 ways to beat inflation this month when you shop for school supplies!
Set a budget and stick to it! Create a realistic budget for your back-to-school shopping and stick to it. Start with a list of essential items and set a target amount for each category. This will help you avoid impulse purchases and stay within your financial limits.
Start early and plan ahead. One of the best ways to save money is to start shopping early. This will help you take advantage of sales and avoid the last-minute rush when prices may be higher.
Take inventory of what you already have. Before heading to the stores, check out the inventory of supplies and clothes you already have at home. This can help you avoid buying more of what you already have and save a lot of money.
Shop during tax-free holidays. Many states offer tax-free holidays, where certain items are exempt from sales tax. Plan your shopping around these dates to maximize your savings.
Buy in bulk. For items you’ll need to buy many of, like notebooks, pens and paper, buying bulk can be cost-effective. You’ll generally find discounts on bulk purchases at warehouse stores and office supply retailers.
Use price comparison tools. Harness the power of technology to find the best deals as you shop for school supplies, gear and clothing this season. A price comparison website or app will automatically compare prices across different retailers to find the best deal.
Consider secondhand options. Thrift stores, consignment shops and online marketplaces, like eBay and Facebook Marketplace, can be treasure troves for gently used clothing, backpacks and other school supplies.
Choose quality over quantity. While buying the cheapest option available may be tempting, investing in high-quality items can save you money in the long run.
Take advantage of student discounts. Many retailers offer student discounts on many items, from clothing to electronics. Check out the sites of your favorite retailers to see what they offer before completing a purchase.
Leverage cashback and rewards programs. Take advantage of cashback and rewards programs, like CommonWealth One's Kasasa Cash Back Checking account, which offers cash back on purchases made with your CommonWealth One debit card. Additionally, our Platinum Rewards and Signature Rewards credit cards provide extra rewards on your spending. Remember, it's best to use these options if you can pay off the credit card bill in full shortly after.
Feeling generous? If you live in the Harrisonburg area, please pick up some extra school supplies and drop them off at our Harrisonburg Regional Branch. We are collecting donations through August 7 for the United Way of Harrisonburg and Rockingham County Tools for School Drive.
Have a great school year!
