GREEN BAY, Wis. (WBAY) - Before you hit the store to shop for the items on your back-to-school list, you'll want to sit down and budget.
The average family spends more than $600 for supplies and clothes.
Back-to-school spending is second to holiday shopping.
Action 2 News This Morning spoke with local financial professional Kevin Klug. He gave us insight on how to save money.
First, take inventory of what you already have and recycle supplies.
Backpacks and lunch bags in good conditions can be re-used.
Write down your budget and use that as a guideline for how much you want to spend and where you want your money to go.
Klug recommends getting kids involved. It's a great time to teach them budgeting basics.
"Let's say they want that super heroes folder or super heroes notepad. Show them the difference between the cost," Klug says. "I was looking around last night and it's almost twice as much. So if you can save a dollar on a folder and go with more generic version, let them keep the difference. To help them understand how a budget works and if you go under budget what you can do, you can save that money and maybe use it for something else."
We know kids are always excited about new outfits, but Klug suggests avoiding overoing clothes shopping before school starts.
You can get good deals on clothes at the end of the season.
This one might be hard for parents, but Klug suggests using cash over credit. It's easier to overspend on plastic.
Back 2 School on a Budget:
1. Set realistic budget & stick to it
2. Take inventory and reuse supplies
3. Get your child involved, reward them for sticking to budget
4. Choose practical over pricey (save money by avoiding brand name or superhero character supplies)
5. Cash over credit