Back-to-School Budget Tips for Parents

The smell of freshly sharpened pencils, the excitement of new backpacks, and… the sound of receipts adding up. Back-to-school season is full of possibilities for your kids, but it can also be a strain on your wallet.

At TopLine Financial Credit Union, we know that smart planning can make the school shopping rush into a manageable and, - even enjoyable experience. Here are our top tips to help you save money and start the school year strong.
 

1. Take Inventory Before You Shop

Before you buy anything new, check what you already have. Double check that a forgotten stash of notebooks from last year or barely worn gym shoes might save you a trip (and some cash). Make a list of what’s truly needed.

2. Set a Back-to-School Budget

Determine your overall budget, then break it into categories like clothing, school supplies, and tech. A clear spending plan helps avoid impulse purchases—and your future self will thank you when the credit card bill arrives. 

If you need help with creating a budget, check out TopLine’s Financial Learning Center!

3. Check Your State's School Supplies Tax Benefits

Many states offer tax-free weekends in late summer for school-related purchases. In Minnesota, make sure you save your receipts on school supply purchases to claim valuable K-12 tax benefits while filing your taxes next year! 

Two tax benefits can help Minnesota families pay expenses related to their child’s education: the refundable K-12 Education Credit (income limits apply) and the K-12 Education Subtraction (no income limits).

Most expenses for educational instruction qualify, including:

• Paper
• Pens and notebooks
• Textbooks
• After-school tutoring and education summer camps taught by a qualifed instructor

For more information, check out this article from the Minnesota Department of Revenue.

4. Compare Prices Online and In-Store

Sometimes the best price is just a few clicks away. Use price-comparison apps or your favorite store’s website to check for deals before heading out. Even small savings per item can add up fast when you’re buying for multiple kids.

5. Buy in Bulk – Then Split the Cost

If your child’s supply list includes common items like pencils, tissues, or glue sticks, consider teaming up with another family. Buying in bulk often brings the cost per item way down, and sharing the purchase keeps everyone’s spending low.

6. Consider Secondhand Clothing and Gear

Thrift stores, consignment shops, and even neighborhood swap groups can be treasure troves for gently used backpacks, uniforms, and sports gear. Kids grow fast—there’s no shame in letting your budget stretch further with pre-loved items.

Back-to-school shopping doesn’t have to mean back-to-budget stress. With a little planning, smart spending, and help from your credit union, you can send your kids off prepared and keep your finances on track!