Money hacks to help you survive another year of school expenses | ABS-CBN

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Money hacks to help you survive another year of school expenses

Money hacks to help you survive another year of school expenses

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Many schools around the country have started opening their doors (literally!) to students for the first time in nearly three years. For parents and students, this also means having to open their wallets for a new round of school expenses.

Paying tuition alone is already tough for most families with many having to take out a loan. Some parents prefer to avail of instalment payments with the schools directly, others have to rely on their credit card, or apply for a personal loan with their employers or from banks and other financial institutions.

Unfortunately, tuition is usually just about half or 2/3 of the expenses. Next comes books, then uniforms, then school supplies, then allowance. Are there ways you can help your wallet survive another year of school expenses? Money-savvy parents come to the rescue, and here are 7 of their best advice.

#1 Don’t be quick to buy all the textbooks from your school.

With every school year, students need a new set of books and your school is expected to provide them at your convenience, for a fee. For public school students, the books are supposed to be free but they are in short supply so some parents still need to go out and buy so their children won’t fall behind. Don’t buy all books at once, and from the school. Check out local and online bookstores that sometimes offer them at lower cost. Reach out to parents too, as some of them may have older children who can pass on their books to you, for free or cheaper.

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#2 Hold off on shopping for all the school supplies too.

Teachers provide students a list of all the school supplies they will need for the year. Sadly, this list is not always 100% accurate, meaning some items are not used at all. Look over the list and if possible, ask the teachers when they are needed. This way, you can shop for the ones needed now, and postpone the purchases for others later.

#3 Check your school supplies at home, and reuse and recycle as you can

This year’s list may include a calculator, but you have one from last year that is still in good condition. That’s one item you can strike off your shopping list. How about notebooks that still have many unused pages? Glue? Scissors? Art paper? Pens? It is impossible that all of last year’s school supplies cannot be reused and recycled for a new term. You just need to set aside time for spring cleaning and home organization.

#4 Sell off books and supplies you no longer need

While doing your spring cleaning, you will likely come across items that you or your child no longer needs but still in good condition. Everything from rulers to maps to dictionaries. Organize them into a list and share with other parents. You may be able to sell them or even trade them for supplies that you need for this year. So go ahead and convert those clutter into real savings.

#5 Transform last year’s uniforms into good as new

Uniforms can be expensive, especially if you will buy a new set for the school year. Before you place your order, check if your child can still wear last year’s. Maybe you just need to lengthen the hems for girls, or the pants for boys. If yes, then you won’t need to buy at all, or you can follow the trick of some parents: buy one new set this year, and use two older sets from last year. If you do your laundry 2x a week, you’ll have enough for the school week.

#6 Wait for sales and price markdowns

Remember those school supplies you did not buy yet from #2? Keep an eye out for sales and price markdowns during the next few weeks and months, and buy at the right time and get a better deal. After everyone has shopped for school opening, and the fuss has died down, bookstores and other retailers will try to move their inventory by offering discounts. This is your cue to finish shopping for your school supplies.

#7 Discover libraries and free online resources

Apart from the list of books provided at the start of the school year, students also need reference materials throughout the term. You can buy them, or you can check out your school libraries, even community ones if any. Unless you will need the reference book for months, then just borrowing them for a week or so should be enough. Make sure to also take advantage of free online resources. Many classics that are required reading in Literature are available for free via the internet. Before you open your wallet, open your browser first and see if you can get it for free instead.

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