Maximize Your Money: PenAir’s 2025 Back-to-School Savings Plan
With school starting soon and prices still sitting high, many families are feeling the pressure of back-to-school shopping. But don’t worry! PenAir has your back with smart, simple strategies to help you save.
1. Review List(s) and Make A Plan
Before heading to the store, take inventory. You may already have many of the basics, especially if your child is just starting school. Once you receive the official supply list, gather what you already own to reduce your shopping load.
Also, consider the wants versus needs. Items like trendy clothes or tech gadgets may not be essential. PenAir financial coach Amanda Chapa advises,
“Don’t get a whole new wardrobe. Styles and trends can change in the first week.”
If your student needs new clothes because of a growth spurt or to replace worn-out items, consider getting 1-2 new items versus 5-7.
Tip: Set a budget and use price comparisons, coupons, promo codes, and tax-free holidays to stretch your dollars. Check your state’s tax-free dates. Try saving a small amount from each paycheck to build your back-to-school fund gradually.
Need extra support? Explore PenAir’s flexible personal loan options designed to fit your budget and keep you on track. Personal loans often offer lower rates and predictable payments compared to credit cards.
2. Shop and Swap
One great way to save money is to buy in bulk. But if you don’t need a dozen scissors or pencils, find another parent to team up with and still benefit from the savings.
Consider organizing or joining a school supply swap with friends, family, or community groups. These events can help you access deals typically reserved for bulk orders or warehouse stores.
Combine school supply runs with grocery shopping to save time and reduce extra trips.
With school starting soon, you may be worried about how to cover school supplies as prices continue to rise, even if it’s your child heading to class instead of you.
Even if your child starts elementary school this year, it is likely that some necessary supplies are already available at home. Once you receive the required supply list, collect any items you already have. This can reduce your shopping list and provide clarity on what you still need.
Also, consider which items are essential versus optional, particularly those not specified on the supply list—such as new clothing, accessories, or technology—especially for high school students.
Tip: Look for local programs, non-profits or churches providing free school supplies. Some programs and events may offer other resources to help low-income or families dealing with difficult circumstances.
3. Get Your Student Involved.
Turn shopping into a teachable moment. Talk about the amount of money available and let your child help prioritize purchases and manage a budget. It’s a great way to introduce financial planning.
“Let them put items in the backpack but give them a budget as they mark things off,” shared Chapa.
Use apps or online tools to create a list and avoid distractions. Make it a game and challenge them to stay under budget. If they succeed, let them use the savings for something special or deposit it into their Youth Account.
Tip: Once this year is checked off, start planning for next year. Use a separate savings account or checking account to set aside the money you plan to spend. Set up automatic transfers from your checking account to a dedicated savings account to make saving easier.
Maximizing your money is all about planning ahead, collaborating, and looking for savings. If you’re able to set aside a little extra, consider building an emergency fund for unexpected expenses.
PenAir is here to help you master back-to-school shopping and stay financially fit—this season and beyond. Book an appointment with a PenAir financial coach to review your situation, create a savings plan, and set long-term savings goals for financial success.