Back to school budgeting

Now, it’s time to face the reality of how far I’ve strayed from my budget and find ways to get back on track as the school year begins.

Here are four back to school tips for parents. These are practical steps you can take as the kids go back to school to help you stay on track with your money goals:

Look at where you spent the most money and why. Understanding your spending habits helps you anticipate where you’re most likely to go over budget, allowing you to plan accordingly. To prevent overspending, consider using cash for shopping and outings to limit yourself to a set amount. Many places are now cashless so perhaps using a card where you can transfer a set amount of money to a debit card to avoid going over could be helpful.

September is a great time to find bargains on school essentials like uniforms, stationery, shoes, and coats. Some stores and supermarkets offer significant discounts on unsold stock. Do some research to find the best deals in your local stores for their back to school sale. Also try markets both in person and online that could offer a range of cost effective school items at a bargain.

Food costs usually take up most of the budget along with rent and utilities — especially with growing children. This September, consider shopping in the reduced-price aisles or during times when supermarkets offer last-minute deals. Stocking up on tinned and non-perishable goods can also help with meal planning. There are particular apps and websites that provide places to get heavily discounted foods if you have flexibility to collect food and if you are concerned about food waste.

With October half term only several weeks away the children will need to be fed and entertained. Planning now can help you find free or low-cost events, saving you money. As a starting point, use some of the ideas explored on this page to give you peace of mind and practical support. And yes, it’s time to start thinking about Christmas! The cost of gifts is increasing yearly so having that in mind now could be helpful in planning what presents to buy your loved ones and how much to spend.

Summer 2024 is over, and kids across the country are now back at school. You’re doing an incredible job as a parent or carer navigating these challenging times, with the cost of essentials rising. Here is our free online budget sheet to help you plan your new autumn budget.

Find out if money coaching is happening near you by going to capuk.org/get-help/money-coaching.