Use these back-to-school tips to help budget for the changing costs of your child’s school supply lists
As your child gets older, his or her school supply list will change and often become more expensive. The required items may vary by school, and a supply list should be made available to you by your child’s teacher before the start of the academic year. However, we’ve created a list of the most common items they will need to help you prepare ahead of time. From crayons to calculators and college textbooks, learn more about the typical expenses you can expect by age group. Then use our back-to-school tips for making school supplies more affordable, and consider creating a back-to-school budget to prepare your checking account for your child’s ongoing school-related expenses.
School supply list staples to plan for every year
Starting in kindergarten, you will likely spend money on backpacks, lunch boxes, clothes and more each year when your son or daughter heads back to school. He or she will also need No. 2 pencils, pens, paper and notebooks. While you may not need to replace the larger items every year, it’s good to keep an eye on them to see when a new backpack is in order. As your child gets older, the bags can get heavier and may take a greater beating.
School supply lists for elementary students
A school supply list for an elementary student is fairly simple. Along with the basics needed every year, your elementary student will likely need the following craft and classroom materials:
- Glue bottle and glue sticks
- Crayons and markers
- Colored pencils
- Construction paper
- Watercolor paints
- Pencil sharpener
- Scissors
- Tissues
- Ruler
Common school supply lists for middle school
In addition to the basic supplies listed above, your middle school student may be required to have highlighters, paper clips, a dictionary, binders, pocket folders and locker organizers. To help minimize the amount you spend each year, it’s a good idea to keep an inventory of what you already have to determine what you will still need to buy. Also, if your child will be involved in any organized sports or out-of-town class trips, you may have more expenses. It’s wise to factor these into your back-to-school budget starting in middle school.
High school supply list
When your child enters high school, the cost of supplies will likely increase more than it has in previous years. If he or she will be taking Advancement Placement (AP) classes, playing high school sports or getting involved in extracurricular actives, your child may need course- or activity-related supplies, and the money you’ll spend on these supplies can add up quickly. Here are a few additional items you should budget for with your checking account when your son or daughter is in high school:
- flash drive
- Scientific calculator
- Foreign language dictionary
- Graphing paper
- Sports equipment
- Sticky notes or index cards
- Band instruments
- SAT/ACT test fees
- AP test fees
- Safety goggles for science labs or shop class
- Art supplies like photography paper, sketch pads or paint
Once your son or daughter is a teenager, you may want to consider preparing him or her for financial independence. Many banks will allow you to open a joint checking account with your teen. Later at age 18, he or she will be allowed to open a checking account for students alone. If your child is earning an allowance or has just started working, open a joint checking account and provide guidance while allowing your child to take ownership of the money he or she earns.
Back-to-school tips for your college student
If your child will be pursuing a post-secondary education, you’ll need to be prepared for the new expenses and determine how much your child is responsible for. In addition to the costs of tuition and living on campus, your child will need to purchase college textbooks, and a laptop or desktop computer may be needed to complete college papers and assignments. Consider opening a college savings account for your child early to ensure your family is financially prepared.
Budgeting for school supply lists with a personal checking account
Whether you child is in elementary school or heading off to college, back-to-school shopping can be an exciting time of year. Your child may ask for a brand new backpack, wardrobe or the latest piece of technology, making it easy to spend a small fortune. To avoid putting a strain on your checking account, create a budget each year before you head to the store. Look at last year’s back-to-school shopping receipts to help get a more accurate idea of what you spent and inventory the supplies left over that can be reused. Shop back-to-school sales before the school year begins and get even bigger end-of-season deals after classes are in session. Consider buying in bulk and save the supplies for next year if you find good deals.
Throughout the year, set aside money from each paycheck into a savings account that will help cover the growing costs of your child’s back-to-school expenses. Then when you’re ready to buy, transfer the money online from your savings account to your checking account and help make your child’s first day back to school a success.
Sponsored content was created and provided by Citizens Financial Group.