The smell of new notebooks, the buzz of supply lists, and the promise of fresh starts — back-to-school season can be exciting. But for many families, it can also bring financial stress. From clothes and backpacks to lunch gear and electronics, back-to-school spending adds up fast. In 2024, parents spent an average of $584 per child.
If you’re feeling the pressure to “keep up” or worried about how you’ll afford it all, you’re not alone. At SolveYourDebts.com, we work with hundreds of families each year who are doing their best to stretch every dollar. The good news? With a few smart strategies, it is possible to send your kids back to school prepared, without going into debt.
1. Start with a Budget (Yes, Really)
Before you start shopping, take stock of your financial situation. What can you realistically afford this month without dipping into savings or adding to credit card balances?
Make a back-to-school budget that covers all the essentials, like shoes, supplies, lunch containers, and any class-specific materials. If you know your child will need things later in the year (like indoor shoes or winter gear), plan for those costs separately so they don’t eat into your September budget.
If your income is tight, prioritize the absolute must-haves for the first few weeks of school. You don’t have to buy everything at once.
2. Inventory What You Already Have
Before heading to the store, take a good look at what’s already in your house. Last year’s backpack might just need a quick wash. Those jeans from spring might still fit. And half-used notebooks? Perfectly good for home practice or rough work.
Involve your kids in this process and turn it into a treasure hunt. They may be surprised at how many supplies are hiding in desk drawers, closets or under the couch cushions.
3. Set Limits on Wants vs. Needs
Kids are great at asking for extras — brand-name sneakers, trendy lunch boxes, new water bottles for each day of the week. It’s natural for them to want what their friends have. But part of your job as a parent is teaching them the difference between needs and wants.
Talk to your kids about the budget and set clear expectations. Give them choices within limits. For example, “You can pick one new hoodie or two t-shirts, it’s your choice.” Consider letting older children contribute their own money for non-essential items.
4. Shop Smart — and Late
Retailers count on parents to panic-buy in August. But here’s a secret: many of the best deals actually come after school starts. If your child doesn’t need everything on day one, wait a few weeks to pick up extras when they go on clearance.
Also, don’t forget:
- Buy used: Thrift stores, Facebook Marketplace and parent swap groups are goldmines for clothes, calculators and even sports gear.
- Use reward points: If you collect grocery or credit card points, now might be the time to redeem them.
- Price match: Many big-box stores will match competitors’ prices, so don’t be shy about asking.
5. Avoid the Trap of “Back-to-School = New Everything”
There’s a lot of pressure — especially on social media — to treat back-to-school like a second Christmas. But the truth is, your child doesn’t need a completely new wardrobe or the latest gadget to succeed in school.
What they really need is support, encouragement and a stable home environment. New clothes and fancy supplies are nice, but they aren’t the key to academic success, and they definitely aren’t worth financial stress or added debt.
6. Talk to Your Kids About Money
Back-to-school season is a great time to start teaching kids financial literacy. Involve them in budgeting decisions, compare prices together and talk openly about family values around spending.
Kids who understand how money works — and how much things really cost — are more likely to grow into financially responsible adults. And that’s one of the best back-to-school lessons you can give.
7. If You’re Already Feeling the Pinch, Reach Out
If you’re struggling with back-to-school expenses and relying on credit to make it through, you’re not alone, and help is available. Credit counselling offers free, confidential support to help you manage debt, create a realistic household budget and find breathing room.
There’s no shame in needing help, especially in today’s economy. What matters is taking steps toward financial stability for you and your family.
Need help managing debt or building a budget?
For over 30 years, SolveYourDebts.com has helped Atlantic Canada families pay their debts through free, non-judgmental credit counselling. Book a free consultation today and let’s make this school year a fresh start — for your finances, too.
