Schools will be back in session very soon. As your children adjust to the rhythm of routine again, you may be making your own preparations.

Getting ready for classes can be stressful for children. Likewise, the feeling spreads if you factor in how much you expect to spend on school supplies, extracurricular activities, and more.

Education expenses can be unavoidable for many families. Therefore, savvy spending is crucial to stretch your dollar further. Here are a few recommendations to help you and your family navigate the back-to-school season.

Plan Expenses, Prioritize Purchases, and Time Your Savings

Education expenses can quickly add up. That’s why it's important to set a budget well before buying new supplies.

After getting your school supplies list from your child’s school, make a list and take stock of what’s needed. Determine in advance how much you’re willing to spend.

Get an idea of the average price points for each item. Having a general feel for how much items cost now will prevent sticker shock at the register later.

You can also “procrastinate” on some purchases. While putting things off for later is generally frowned upon, the situation is different when saving money.

For example, if your child loves doing certain sports for extracurricular activities, they may only need the related clothing or equipment later in the school year. You can save some money now and wait until the season begins before making purchases.

Reuse School Supplies Where Possible and Team up With Your Neighbors

The first way to lower total supplies costs is by reusing what your family already has. In most cases, the stuff your young scholar used last year is still just as good now.

Everyday items that generally can be carried over from one school year to the next include:

• Binders and folders
• Pencil sharpeners
• Reusable pencils and pens
• Clothing and footwear
• Backpacks and lunch boxes
• Calculators, tablets, and e-readers
  

Sift through your old items and see if you can reuse or repurpose your finds. Hand-me-downs from siblings can also go a long way towards supplying younger students.

It may also be helpful to get your neighborhood involved. Coordinate with your peers to organize a swap meet to trade items. Your neighbors and extended family may have something to offer to increase everyone’s savings. Conversely, you may have something your neighbors’ children could use.

Naturally, there is no denying the thrill of getting something new. If your child worries about not getting anything shiny, now is a great time to foster teachable moments with money.

Try to understand your child’s wants and see if you can compromise. Propose substitutions and make offers.

This is also a great time to “upcycle” older items. A reused binder, for instance, can get a new lease on life if you decorate it with stickers. Compare this low-cost DIY solution to buying a branded notebook with a mascot character printed on it.

Take Advantage of the Florida Sales Tax Holiday: July 29 – August 11, 2024

Sales tax raises bills significantly since it’s charged on virtually anything you buy at stores and restaurants. The costs can add up, especially if you have to stock up on school supplies.

Fortunately, Florida residents can save money on education expenses. The state government establishes several points in the year when certain items are exempt from sales tax. Recently, these “sales tax holidays” coincide with the resumption of classes in the fall and after the winter holiday season.

The 2024 “Back to School” Sales Tax Holiday occurs from July 29 through August 11. You won’t have to pay sales tax on qualifying purchases when you shop at stores. According to the Florida Department of Revenue, items eligible for tax exemptions include:

• Learning aids and jigsaw puzzles selling for $30 or less
• Most school supplies selling for $50 or less
• Clothing, footwear, and accessories selling for $100 or less
• Computers and related accessories for $1,500 or less (when purchased for non-commercial and personal use)
  

Learn more about the Back to School Sales Tax holiday here. This page also includes links to FAQs that clarify qualifying purchases and other important information.

These sales tax holidays are a great way to save some money. Florida residents should also know that similar sales tax holidays are active to help prepare for hurricane season, natural disasters, and even home improvement tools. Visit the Florida Department of Revenue’s site to learn more.

Don’t Forget About the Groceries

Learning never happens on an empty stomach. Retooling your grocery budget can save money as your family enters the school year.

It’s a great time to practice your fundamentals of grocery shopping and budgeting. Some quick tips include:

• Make a shopping list and stick to it
• Clip coupons and take advantage of grocery savings apps
• Try to buy non-perishables and dry goods in bulk
• Use your freezer to make fresh ingredients last longer
  

With studies and extracurricular activities picking back up, your household may become very busy. Practice meal prep techniques to save everyone’s time during the week.

Prepare and freeze meals in advance. Prepackaged items like breakfast burritos and meal bowls are often sold at a premium, and their preparation is similar to cooking fresh. You are paying for the convenience, after all.

Instead, cook and prepare these recipes and store them in freezer-safe containers for later. It may take a little extra time out of your weekend, but it can be a lifesaver as the week goes on.

By planning and spending smartly, your family can start the new school year on the right track.

First Florida is your partner during the back-to-school season. Help your child grow with our It’s a Money Thing financial education series. We cover many topics that empower students to get smarter with their money.