While Oklahoma school children anticipate returning to school, parents may be feeling a little anxious about the back-to-school shopping frenzy and extra expenses. 

 

The good news for caregivers is there is no need to bust the family budget. 

 

"Planning ahead is key to managing back-to-school expenses without straining your budge," said Mengya Wang, OSU Extension personal finance specialist. "Setting a spending limit, researching prices, and prioritizing essential purchases can help families stay on track financially."

 

Begin by creating a budget for the amount the family wants to devote to school-related purchases. Factor in costs such as instrument rental, school pictures and sports participation, as well as the cost of driving students to and from school. 

 

Parents of high school seniors should think ahead and consider costs of senior pictures, college application fees and dorm room needs. 

 

After establishing the budget, family members should research their options based on the amount of funds available, then come to an agreement on all purchases. 

 

"Creating a budget and discussing spending limits with your children beforehand can prevent impulse purchases and financial stress," Wang said.

 

If the children change their minds or want to add to the shopping list once they get to the store, parents should help them make decisions that will allow them to stay within the established and agreed upon budget. 

 

"Shopping when you’re rushed or stressed can lead to unnecessary purchases," Wang said. "Take your time, compare prices, and shop when you’re in a good frame of mind to make thoughtful financial decisions."

 

Families looking to save a little money should pay attention to sales, as well as the Oklahoma Tax Commission’s annual statewide sales tax holiday, which allows shoppers to purchase certain clothing and shoes free of state, city, county and local municipality sales tax. 

 

Even with a break on sales tax and strict adherence to a budget, some may struggle to cover back-to-school costs. For assistance in those cases, check the nearest county OSU Extension office for community organizations offering supplies for free or at a reduced price. 

 

Finally, families may consider building anticipated school expenses into the overall household budget as a wallet-friendly strategy that also can cut down on parents’ stress level.

 

“Planning for back-to-school expenses doesn’t stop at the first day of school," Wang said. "Setting aside money for ongoing costs like field trips, school events, and seasonal clothing can help families stay financially prepared.”