As summer draws to a close, families across the country begin their annual back-to-school shopping traditions. For many, this can be a time of excitement, but it can also bring financial stress as parents pay for what their students need to succeed. The rising costs for this aren’t simply in your head. The burden of back-to-school spending has doubled since 2007, growing from $18.4 billion to $41.5 billion, with 30% of parents relying on credit cards to fund their purchases.

As a Christian financial institution, we believe that back-to-school shopping presents an excellent opportunity to practice good stewardship and recalibrate priorities in a way that pleases God. Here are our thoughts on how you can do that.

Planning and Budgeting

Before heading out to the stores or browsing online for back-to-school supplies, take the time to create a budget. List all the essential items your children will need, such as clothing, shoes, backpacks, notebooks, and other school supplies. Then, determine how much you can reasonably afford to spend on each category.

Proverbs 21:5 offers wisdom in this area: “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.” By diligently planning and setting a budget, you can avoid the trap of overspending and ensure that your financial resources are used wisely.

Distinguishing Between Essential and Non-Essential Spending

In our consumer-driven culture, it is easy to be swayed by advertisements and the latest trends. However, stewardship requires us to differentiate between essential and non-essential spending. Back-to-school shopping is undeniably essential, as it equips our children with the tools they need for their education. However, within this category, it is important to prioritize needs over wants.

Encourage your children to make a list of what they truly need for school. This is a great way to start a constructive conversation about money. Discuss the difference between essential items and those that are simply nice to have. This exercise can be a practical way to apply the teaching of Matthew 6:19-21:

“Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”

Comparison Shopping

One of the key principles of good stewardship is making informed decisions. When it comes to back-to-school shopping, this means taking the time to compare prices and look for the best deals. Many retailers offer back-to-school sales, and with a little research, you can find significant savings.

Consider shopping at discount stores, using coupons, and dollar stores. Online shopping can also be a great way to compare prices and read reviews before making a purchase. By being diligent and patient, you can stretch your dollars further and ensure you are getting the best value for your money.

Take Advantage of Sales Tax Holidays

Sales tax holidays offer a valuable opportunity to save on back-to-school essentials by allowing consumers to purchase specific items without paying state sales tax. These tax-free weekends typically occur just before the start of the school year and can include exemptions on clothing, school supplies, shoes, and even certain electronics.

By planning your shopping around these dates, you can significantly reduce your overall expenses. It's wise to check the specific dates and eligible items for your state, as each state may have different guidelines. Leveraging sales tax holidays is a smart and practical way to stretch your back-to-school budget further, ensuring you can provide for your children's needs without overspending.

Reusing and Recycling

Another important aspect of stewardship is being mindful of needless consumption. Consider reusing and recycling items from previous school years. Backpacks, lunchboxes, and even some school supplies can often be used again if they are still in good condition. This not only saves money but also teaches children the value of taking care of their belongings and being responsible with resources.

In addition, consider shopping at thrift stores or organizing a school supply swap with other families in your community. These options can provide gently used items at a fraction of the cost of new ones, and they promote a sense of community and sharing.

Generosity and Giving

While back-to-school shopping is primarily about preparing your own children for the new school year, it is also an opportunity to practice generosity. Many families in need struggle to afford basic school supplies. As Christians, we are called to love our neighbors and help those in need.

Consider setting aside a portion of your back-to-school budget to purchase extra supplies for children in need. Many schools and churches have programs that collect and distribute school supplies to families in need. By participating in these programs, you can bless others and teach your children the importance of generosity and compassion.

As Proverbs 11:25 reminds us, “A generous person will prosper; whoever refreshes others will be refreshed.” When we give generously and selflessly, we reflect God's love and provision to the world around us.

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Saving for educational needs is among the most important long-term savings goals! At AdelFi, we help people reach financial milestones while supporting institutions that agree with their values. AdelFi's Monthly Savings Calculator can help you get a head start on next year’s school supplies. Simply input a starting balance, a rate of return, and a savings goal to determine how long you’ll need to save. Try it as a family today!