Brotherhood of St Lawrence savings tips

8 Back-to-School Savings Tips To Kick The Year Off Right

Getting good savings together can seem daunting, especially when you feel you don’t take home much money. Around back-to-school time can be particularly stressful, as we hustle to ensure the kids have everything they need to tackle the new year. But when you get good habits in place you’ll be amazed at what you can achieve. Here are just a few ways you can get ahead with your savings goals:

  1. Ask your school for an expenses list to see if you can pay for any costs via installments, such as school camps and excursions.
  2. Develop a budget and do your research to find the best Back to School bargains.
  3. Hold a get-together with school parents, with children of different ages, to exchange children’s school clothing.
  4. Label all school items, so that any lost property is more likely to be returned.
  5. Buy school supplies in bulk that you know will be used regularly.
  6. Start saving now for next year’s Back to School costs. Identify a small item you can go without such as takeaway coffee or magazines, and put the money you would have spent into savings. A $3 takeaway coffee every day for a year adds up to $1,000.
  7. Use a free money-tracking app like TrackMySPEND from MoneySmart to stay within your budget.
  8. Enquire about joining Saver Plus to have your savings for school costs matched dollar for dollar, up to $500, saverplus.org.au

This article is sponsored by Saver Plus. Saver Plus is available in 60 communities in every state and territory, 1300 610 355 or saverplus.org.au

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