It’s that time of year again, back-to-school! Can you believe this summer is almost over and fall is just around the corner? Going back to school can be an exciting time for parents and kids, but can also mean a sudden drain on your cash.

School supplies aren’t necessarily cheap and there are always unexpected expenses, (yearbook dues, increased costs of school lunches, etc.) At this time of the year, a budget can be a parent’s best friend.

You Better Shop Around
It doesn’t take much to turn buying school supplies into a full-on shopping spree. Before you invest in anything, (pencils, notebooks or expensive calculators.), try to estimate how much you can afford to spend overall and what the costs are likely to be. Most stores have websites now, so comparing prices online can help you save a bundle. Also, check the Sunday paper for money-saving coupons on school supplies before your trip to the store.

Get the Kids Involved
Have your kids join in the back-to-school shopping preparation. Younger kids can help clip coupons and older children can help compare costs and tally them up. Have the kids pitch in to make easy-to-read charts for tracking back-to-school spending. You could even turn it into a game where the goal is staying under budget. Look at it this way; it’s kind of like a math lesson that benefits both parent and child.

Get Creative
There is a more-than-good chance that school clothes are the biggest chunk of your back-to-school budget. But who says they have to be brand new? Hosting a swap meet with another family or hitting consignment stores can help you save money and send the kiddos back to school in stylish clothing. Additionally, check online stores like eBay or Overstock.com to find some great last minute deals on back-to-school apparel.

Arvest is happy to offer products like our Spending Card and our all-new Family Card feature, for existing credit card holders. Products like these can help your family manage money and are also safer than cash.

For more information on back-to-school budgeting and other financial topics, click here.