Tips for parents as the cost of back-to-school supplies rises

August can be a stressful time for parents ahead of children heading back to school, and with prices continuing to rise some families are left scrambling.

On Aug. 15, White Buffalo Youth Lodge in Saskatoon handed out 4000 backpacks filled with school supplies to families in need.

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The backpacks contained items like pens, pencils, erasers, binders and more, costing an estimated $130 each.

Saskatoon father James Smith was at the lodge event to get supplies for his 11-year-old daughter Jasmine. He said it’s getting harder to keep up financially.

“As we get into the higher grades, it’s getting tougher and tougher to make sure they have all the supplies,” he said.

Smith said the free backpack had given him some peace of mind.

“One less thing to worry about. We’re still going to have to buy a few things,” he said. Nonetheless, we’re ready for it.”

Smith said it’s really important to craft a road map for back to school shopping.

“Careful planning, strategizing, just thinking ahead,” he said. “Playing the tape and seeing where you want to be at the end of that tape, so to speak.”

Tre Bynoe, financial planner at TCU Wealth Management, said he recommends looking at back-to-school shopping as more than a one-off event.

“Buying in bulk, things that we know children are going to need in future years,” he said. “Buying it all at once makes a big difference … (and) splitting that cost with other parents can help save a significant amount.”

Bynoe also said with some supplies it’s better to get quantity over quality, especially items like pencils that kids tend to lose.

“The thing about children is that they tend to lose a lot of things,” he said.

“So a big saving can be investing in the children’s financial education early, like making a budget helping the children then buy their own back-to-school items.”

Some parents like to spread back-to-school shopping out over the entire summer so they aren’t spending a huge lump sum and Bynoe said he encourages that, adding parents should also keep an eye out for opportunities to save money.

“It’s wise to look for sales,” he said.

“Create a list of everything you need and be on the lookout. It’s not really a case of doing it all at once or spreading it out, it’s being in a position to take advantage of the deals as you see clearances.”

Bynoe said he encourages parents to teach their kids that money isn’t an unlimited thing.

“Learning that you can’t have everything, that there are trade offs,” he said. “If you want this type of backpack, it means you won’t be able to buy these types of shoes.”

Bynoe said he had noticed back-to-school shopping costs had “jumped all across the board” over the last five years.

“It’s a lot more expensive than it used to be, but you can shop around a little bit easier,” he said. “There are a lot of companies that put on back-to-school specials.”

Bynoe said places to look for deals include Amazon, Walmart, thrift stores, and Facebook Marketplace.

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