August is a time of shifting seasons, the winding down of summer and back to school beginning. Any parent can relate to the expenses that accumulate this time of year! As a Financial Coach, I wanted to share some budgeting tips and tools to help support any easy transition and financial success during the back to school season.
Budgeting can feel like a ‘4 letter word”, overwhelming and difficult. But it doesn’t have to be that way! Start with some basics. Food, shelter, transportation and clothing make up your “4 Walls” in your budget, your foundation for making sure needs are met. The added back to school expenses are in addition to these 4 walls. Check out this Ramsey Solutions Article for more information on budgeting.
https://www.ramseysolutions.com/budgeting/budgeting-doesnt-have-to-be-scary
It’s important to plan ahead for back to school expenses so they don’t sneak up on you. I would recommend setting aside money in May, June and July to make sure you are covered before the school year starts. Some schools will even post their school supply list on their websites early in the summer. Take a peek early to estimate what you might need.
In the back to school season, clothing doesn’t mean all new wardrobes. Look at what your student needs vs wants. Are there items from last year that will work for them in the new school year? Did they outgrow their shoes? That’s a need. The brand name backpack? That’s a want, especially if last year’s is in good condition. Collect and assess the school supplies they used last year to see if they are still in good working order. New scissors or pencil boxes may not be needed, but if the markers are dried up then they go on the shopping list. Shop the sales and try to avoid ordering on Amazon to get the best deals.
What our your favorite tips?
Getting a Financial Coach in your corner can make a huge impact to your financial success. Contact us at admin@opendoorscounselingaz.com to learn more about our Financial Coaching Services.
Kelly Gutowski, LCSW is a Counselor, Coach and Clinical Social Worker at Open Doors Counseling, Coaching and Consulting. Learn more at www.opendoorscounselingaz.com
