Near the end of every summer, parents of young children face one of their largest single expenses: getting their kids ready for a new school year. They extend their budget for children’s clothes and school supplies often forgetting to plan ahead in the process.  Unfortunately, this expensive annual tradition has not been adapted to a time when there are more single parents and, in general, less money in the average family budget.  Some important things to remember for smart back-to-school shopping:

Create a budget.  When preparing a back-to-school budget, start by taking a thorough inventory of what you already have and then develop a budget for what you still need. Then, list each item in priority, from most important to least important. By having a prioritized, budgeted shopping list, it can be trimmed easily by cutting from the bottom.  Don’t forget often overlooked expenses such as yearbooks, extra-curricular uniforms, field trips, and immunizations.
Take advantage of the Sales Tax Holiday.  In August, Texas families can purchase most clothing and footwear priced under $100 tax-free.  Primarily created to assist parents with back-to-school shopping, the fifth annual Sales Tax Holiday fills the local malls to capacity.  The Sales Tax Holiday is not just for back-to-school items.  Baby clothes, diapers, raincoats, work uniforms and pajamas all fall under the tax exempt status as well.  For a complete list, visit www.window.state.tx.us.

Keep your perspective.  Particularly for younger children, getting the best value for your dollar means buying clothes they like to wear.   While everyone wants their child to look their best, try to remember that kids get dirty, grow quickly and are very hard on clothes.  Also, be sure to check in with your child’s school on dress code policies before purchasing any clothing.  

Save on school supplies. Shopping the “back-to-school” section at an expensive retailer may be convenient, however comparing prices with lower priced outlets and office supply stores could save you money. Keep in mind that each teacher will have their own requirements so have your supply list in hand prior to making any purchases.

Involve your children.  Shopping for school clothes and supplies also gives parents a great opportunity to teach their older kids about spending habits. Sit down with your children and decide on a budget. Not only will they learn about smart shopping, they will value what you buy for them much more.