Back To School Could Mean Extra Expenses!

​If you’re a parent or someone who’s going back to school yourself, that could potentially mean more back to school expenses.

Considering school supplies, classroom supplies, field trips, extracurricular activities, extra money spent on gas; after school and before school care, homecoming dances, sports (uniforms, etc.), prom, and curriculum costs (if you’re a homeschooling family). All these little expenses can add up quickly and could catch you by surprise if you aren’t prepared.

Below are a few things you can do to prepare for extra expenses your learners may bring this year.

1. Budget Look at your budget. If you don’t have one don’t worry, the simplest way to get started is to list all daily, weekly, monthly, and yearly expenses (All expenses: gas, hair, nails, etc.) and determine how much is left over after you subtract your expenses from your income.
This will also help you determine ways and areas you can cut back on (even if temporarily).
Having a budget will show you what you have leftover to use for additional things that may come up like an unexpected field trip to the Capital or Shoes for Homecoming.

2. Plan Sit down with your learner and determine what sort of activities they may be interested in this year or semester. It will help you get an idea of what you can expect to prepare to pay for. Having these conversations as a family at the beginning of each semester or at the beginning of the school year is suggested. And is a healthy family financial practice. Compare the plan to the budget to determine if that is doable this semester, in upcoming semesters or next year.

3. Prepare Also set aside 10 -15 % additional money aside for the unexpected expenses even after planning. Life happens but you don’t have to be cut off guard.

4. Searching for Substitutes There are always things you can do to substitute for a lower cost or free option. Searching and vetting local Free After School Programs, or mentorship programs can help your pockets and the children (giving them experience of different social settings). You can also search for other organizations and local businesses that may help with providing prom dressings and suits, shoes, etc.

5. Build a Village This doesn’t mean looking for a bunch of people to help you out, but that is a benefit to building a village. Joining a local parenting group, connecting with other families, family members, friends etc. that can help you transition your family into the school semester(s) always helps. The best thing to do is look for ways to barter. If you’re great at cooking, or braiding hair maybe consider providing those services for someone who could perhaps watch your children after school or before school.
 
  
We hope that these tips helped, and hopefully reminded you of some things that you could implement. Please feel free to leave your feedback or let us know if this article is helpful.