Over the course of two weekends, Anne Zarifa and her children took the time to create a comprehensive list of clothes they would need for the upcoming school year. The Montreal mother of three understands the pitfalls of leaving back-to-school shopping until the last minute, especially during a time of high inflation. To avoid this, Zarifa starts her shopping early in August, giving herself more time to search for deals and ensuring that she doesn’t overspend. However, her biggest money-saving strategy is shopping second-hand through platforms like Poshmark, where she can find items at a more affordable price compared to her local mall.
A recent survey conducted by PC Financial reveals that 46 percent of Canadians are more concerned about their finances during this back-to-school season due to inflation. According to NerdWallet, Canadian parents who plan to shop for back-to-school supplies this year expect to spend an average of $524. To mitigate this, more than a quarter of parents plan to buy fewer school supplies than in previous years. Additionally, over half of the parents surveyed plan to take advantage of sales events to save money.
Natasha Macmillan, director of everyday banking at Ratehub.ca, acknowledges that Canadian parents are feeling the financial strain this year due to the rising cost of living. Macmillan suggests starting by taking inventory of supplies from the previous school year that can be reused, as this is the first step in cutting costs. Establishing a budget is also crucial to avoid overspending. Furthermore, Macmillan advises parents to shop strategically by looking out for coupons and deals on back-to-school items. These deals can be found as early as August or even a few weeks into September.
Robert Malcolm, a parent from Milton, Ontario, takes a unique approach to saving money on back-to-school shopping. He shops a season behind, buying summer clothing for the following year when stores clear out their seasonal inventory. However, he also plans ahead and searches for back-to-school items that his son will need for as far ahead as September 2024. Malcolm emphasizes the importance of saving money when it comes to constantly growing children and recommends participating in paid online surveys to earn gift cards that can be used for purchasing clothing and school supplies.
Malcolm believes that involving children in the shopping process makes it more enjoyable for both parents and kids. By including their preferences and opinions, it becomes a collaborative effort to find items that children will enjoy wearing. Zarifa agrees but cautions against going overboard with buying brand name items based solely on the child’s preferences. Practicality should always be considered when shopping for back-to-school items, especially as children get older and show more interest in specific brands.
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