INDUSTRY INSIGHT
SAVING MONEY
SPONSORED CONTENT
Back-to-School Savings Tips
Can you believe that it ’ s that time of year again ? Preparing to send our children back to school can be a very stressful time . To our kids , shopping for new clothes and school supplies might be the only happy thing about going back to the classroom . But spending a fortune doesn ’ t have to be a reality . Here are eight great ideas for how to maximize your dollar , while still being able to get everything that you need .
And don ’ t forget to ask your friends to invite you to Facebook groups like Kidz Steals and Deals , which provide sales notifications , recalls and links to coupons . n Use credit wisely – Pay with cash if possible . Try layaway if you need time to save up for purchases . If you have to use credit , limit purchases to items you can pay off in 90 days . If you have more than one credit card , use the card with the lowest interest rate to minimize the amount you ’ ll have to pay back . Remember , using a credit card is like taking out a short-term loan . n Set a budget and stick to it – Check how much money was spent last year and attempt to spend around the same amount or less . This will also help teach your child how to budget and to get what is necessary before purchasing the “ wants .” n Ask the family to pitch in – Ask family members to purchase sporting equipment , lessons or uniforms as birthday or holiday gifts . n Start a back-to-school savings account – Putting a little bit of money away every month is a lot easier than coming up with a large amount all at one time . If you start saving for back-to-school shopping in January by putting away $ 50 each month , you ’ ll have $ 350 saved by the time August rolls around . Your local community credit union is a great place to save those dollars !
Going back to school can be a stressful and exciting time for both our children and ourselves . Hopefully , if you follow these tips , backto-school time will be a little less stressful , you ’ ll have extra money in your pocket , and maybe , just maybe , you ’ ll even have a little fun this year ! n Take an inventory of school necessities – If you missed spring cleaning , this is a good time to pull out your child ’ s clothing , shoes and supplies for an inventory of what ’ s still usable . Have the kids try on clothes and shoes to see if they still fit . Consider donating clothes that no longer fit to Goodwill or the Salvation Army . Be sure to get a receipt , since the items could be applied to your personal income taxes as charitable contributions . n Raid the home office – Let your kids raid the home office for supplies and personalize them in unique ways , like decorating an inexpensive pen or plain binder with pictures or stickers . n End-of-Summer Sales – It ’ s a great time to shop end-of-summer sales to stock up on discounted clothing that can be worn throughout the year . Short-sleeve shirts aren ’ t just for the summer ! n Social Savings – Look for advance sales notices and exclusive coupon links from your favorite stores on Facebook and Twitter .
This Industry Insight was written by Wendy Kingsland . Wendy Kingsland is the CEO of Visionary FCU in Bridgeville . Prior to joining Visionary in 2011 , she was employed by Clearview FCU from 1991-2011 . Kingsland currently serves as Vice President of South West Communities Chamber of Commerce . She is active in the Pittsburgh Chapter of Credit Unions , serving as a board member since 1991 and currently serving as Treasurer . She also serves as a Director for the Pennsylvania Credit Union Association .
Chartiers Valley | Fall 2016 | icmags . com 9