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7 Tips For Back To School

July 15, 2019 The kids will be heading back to school before you know it. Yes, it’s hard to think about backpacks and calculators when you’re swatting mosquitoes and soaking up after-dinner sunlight. But follow these tips to manage spending now and you’ll get to relax and enjoy the rest of summer.

1. Use your school’s website to get an idea of costs.

Most school websites have a basic list of must-have supplies and you can also typically find information about things like the cost of book rentals and sports fees. Don’t forget to plan for field trips and special events. Past experience and other parents can help you guesstimate these.

2. Talk to your kids about money.

Watching you plan ahead, check prices and cut spending in one area to afford something in another will prepare your kids to be better money managers. Make a list of spending categories: school supplies, clothing, extracurricular, lunch money and other. Then work with your kids to come up with budgets for each and, depending on their age, give them some power to choose how the money is spent. Encourage them to compare prices and look for bargains on supplies.

3. Make smart technology choices.

Paper, markers and Kleenex can all add up, but technology is where things really get expensive. Try searching for refurbished computers and tablets. They will cost much less than purchasing something brand new.

4. Resist the urge to buy new clothes.

We’ve all been conditioned to think back to school = new clothes. But stores have sales all the time. Unless your kids have gone through a growth spurt or their shoes are falling off their feet, there’s no real reason for a buying spree. Kids bugging you for something new? Revisit your budget discussion and help them prioritize. Can they babysit, mow lawns or do chores to earn money? Older kids might be intrigued by a clothing swap with friends and the adventure of thrift store shopping or distressing their own denim (YouTube and Pinterest are great resources for this).

5. Back away from new credit.

Sure, it can seem like a great idea to sign up for the store credit card when you’re about to drop $100+ and could be getting a discount right this minute. But the trade-off could be more credit than you can handle or the temptation to buy more. Put your purchases on your instead and earn some great rewards!

6. Save money every paycheck.

You’ll probably have multiple paychecks between now and the first day of school. Divide your total expected costs by the number of paychecks and put that money aside as soon as your paycheck hits your account.

7. Track your spending.

Check out Summit’s tool. It’s a great way to set and meet both short- and long-term financial goals. Own the school year now, then sit back and enjoy the rest of your summer. You’ve got this! **Smart money tips brought to you by ** , Summit’s exclusive financial wellness program. You might also be interested in Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. Here are some tips on how to prioritize your debts and bills, negotiate with creditors and get your late payments back on solid ground. Even in these challenging times, there's  whole lot of good happening! At Summit, we've always believed financial success happens together and that's been truer than ever this past month. Here's what "together" has meant for our community. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. If you’re not sure if something is a scam, it’s ALWAYS better to act like it could be! Fraudsters are always coming up with creative new ways to steal from you and quick to take advantage of a crisis. Here are some of the most popular recent scams to watch for. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Some scams go right for your money; others try to get you to part with personal information – like account numbers, Social Security numbers, passwords, and personal identification numbers (PINs). Find out what you should look for and how to protect yourself. The holidays can be stressful & that’s why it’s important to prioritize your self-care. Use these tips to reduce stress without draining your bank account. Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell. And if you can find a way to save money on those improvements or cut home expenses at the same time, well that sweet spot just got a little sweeter! Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA