Back to school shopping is like a private pep rally for each student. It symbolizes new beginnings, grand social plans, and, as every kid will tell you, aspirations for academic excellence. And kids don’t care about how much things cost.
That said, back-to-school shopping qualifies as a splurge occasion for your children. You want them to look and feel confident going into the new school year. It’s important to do your splurging with a spending plan already figured out. Think of it as your personal contribution to bringing more order to the world…that also saves a ton of money. This will encourage kids to make judgment calls between needs and wants in a tangible way. It will also instill a better understanding of the weight of monetary purchases.
2021 Back-To-School Trends
- College students and their families are expected to spend an average of $1,200.
- The emphasis has switched from chairs, desks, and headphones to t-shirts, jeans, and sneakers.
- The Advance Child Tax Credit is playing a role in getting more kids to join after-school and league sports teams.
- Many kids just want to get on with their lives and are eager to return to normal.
So it’s a different kind of mood this year as we go back to school; everything is subject to external factors beyond our control. Especially our sense of well being — but if you’re the type who tries to find lessons in real life for your kids, then you will have plenty of material to work with. So there’s that! For all we know, they may end up being gifted with improved emotional intelligence compared to their parents 😉
Judith Heft & Associates’ Financial Concierge services include working with kids to teach them the value of money. We instill proper bookkeeping and realistic forecasting into their young minds. We can help them prepare a spending plan for their back-to-school shopping, so they take pride in getting good deals and being frugal. For more information, contact us.