A new school year is beginning and David Sant, Chief Marketing Officer for Cyprus Credit Union, says that means it's time to get your kids prepared, whether that is back to school shopping or fitting in the last bit of summer fun.
He offers a few tips to help you out:
Start Planning Ahead
Consider waiting until after school has started to find some great deals on back to school clothing and supplies. While this may limit the style and size options available to you, it will help you save money and avoid the shopping rush.
It may be helpful to buy items that your child is likely to need every year, such as notebooks or pencils, and buy them in bulk when you find a great deal. That way, you`ll already have them around if your child needs new supplies before the end of the school year.
Have a Budget
As the school year approaches, you may see an uptick in the number of coupons that are delivered to your home. These can be a good line to help you set up budget guidelines. As your kids get older, you can start to include them in the budget planning and even come up with ways for them to earn their back to school money.
After setting your budget and a spending limit for your kids, only bring cash on your shopping trips. This will help your kids visualize how much money they have left and once it`s gone, it`s gone.
Before the hectic schedule of school kicks in, schedule doctor and dentist appointments for your children. Not only will it will be easier to find an appointment time that works for you, but many schools require well visits/immunizations before the school year starts. This is also a great time to schedule that much needed haircut. Picture day will be here before you know it!
With a new school year starting, consider opening an account for your kids. This is a good way to teach them extra responsibility. If they make a mistake with their finances at this stage it won`t be nearly as bad if they make a bigger mistake later on.
Open a joint account and inform your kids that they need to be responsible with their money. Make sure they know what expenses they will cover and what you will.
Summer always seems to end a little earlier each year. Plan some fun activities as a last hurrah leading up to the end of vacation. Some fun ideas include the planetarium, museums, Hogle Zoo, Living Planet Aquarium, a Bees game, the park, hikes, a picnic or even a mini-staycation. No matter your budget, you`re bound to find something fun for the entire family.
You can find more tips at: cypruscu.com.