While our son is too young for school, we like to look ahead.
We’ve planned for his RESP, know how much it costs to raise him and now we’re saving money on his (future) school supplies.
Stationery
By making a list of what he’ll need, we’ll be prepared and avoid unnecessary spending. This includes reviewing store flyers, considering what they might already have, and saving hand-me-downs from older siblings. Even the stores you shop at will make a huge difference. While great prices can be found at the usual department stores and office supply stores, have a look in dollar stores and warehouse stores as well.
Clothing
Another huge part of back-to-school shopping is getting our children some new clothes. We might check out some garage sales, or craigslist and kijiji, but a great way to save money on clothes is to host a “clothing swap party.” We will invite other parents to bring their children’s clothes that no longer fit. All the clothes will be combined in a pile and each parent will take a turn picking clothes that will fit their children. We’ll still take away just as many clothes that we brought to the party, but now we’ll have something that fits our children!
While we may be prepared for his school days, we’re in no rush for the little one to grow up.
Tom Drake is the owner and head writer behind Canadian Finance Blog and also works as a financial analyst for a major retailer. Tom and his wife Amanda welcomed their beautiful baby boy Christian in October of 2009. To read more of Tom’s posts, subscribe to Canadian Finance Blog’s RSS feed and follow @CanadianFinance on Twitter.