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5 smart ways to save money on back-to-school supplies

Ivana Pino · Senior Writer

Updated Sat, Aug 24, 2024 4 min read

Back-to-school season can be a stressful time for families, especially for those with multiple students under the same roof. The start of a new school year means it’s time for new clothes, books, shoes, and tech, which can place a major strain on household budgets.

The good news: There are several ways to shave down that back-to-school bill while checking off every must-have on your list.

Back-to-school by the numbers

Back-to-school expenses vary from family to family and will likely fluctuate as a student progresses through their educational career. But one thing is for certain: The cost of school supplies, clothes, electronics, and other necessities can certainly add up.

Total back-to-school spending in the US this year is expected to reach $38.8 billion, the second-highest figure on record, according to the most recent data from the National Retail Federation.

Families with children in elementary through high school plan to spend an average of $874.68 this back-to-school season, with K-12 shoppers budgeting $309.35 for electronics, $253.29 for clothing and accessories, $141.62 for school supplies, and $170.43 for shoes. College students and their families are expected to spend an average of $1,364.75 on items for the upcoming school year.

With back-to-school costs creeping into the thousands, many shoppers have held off on getting started as they wait for the best deals.

5 ways to reduce the cost of back-to-school supplies

Some back-to-school items have little wiggle room in terms of cost. However, there are several ways to trim your expenses by implementing some savvy shopping habits.

Buy in bulk

Shopping for non-perishable items in bulk involves a higher up-front cost, but can help you save more throughout the school year (and maybe even the next too).

You can buy items such as pens, pencils, paper, markers, disinfecting wipes, sticky notes, and more in larger quantities for a lower cost per unit. If you have multiple family members heading back to school this fall, you may benefit from buying supplies in bulk.

This also goes for food items that have a longer shelf life. Think of granola bars, trail mix, dried fruit, and other snacks that are easy to pack in a lunch box or backpack and won’t expire quickly.

Shop secondhand or refurbished

Buying secondhand or refurbished back-to-school supplies can be a great way to save money on items your student will likely use for multiple years, like electronics.

According to the NRF, 69% of back-to-school shoppers purchased a laptop, tablet, or other electronic device last year. Buying a previously owned item can help you shave some money off the retail price. To save even more, consider trading in your old device.

Many big box retailers, such as Target, Costco, Walmart, Staples, and Best Buy, will even accept an old device in exchange for store credit or a gift card.

Mark your calendar and shop during a tax holiday

A sales tax holiday is when a state removes the sales tax on a category of items for a certain period of time. These holidays vary by state and may not land on the same day(s) each year.

Here’s a look at the remaining 2024 tax holidays in each state that could be helpful to know for back-to-school shoppers:

Ask about student discounts

Many retailers offer discounts for student shoppers. Taking advantage of these deals can shave 10%–20% (or even more) off each purchase. Some major retailers that offer student-specific discounts and deals include Best Buy, Apple, Nike, Amazon, Dell, and Microsoft.

You can maximize these discounts by installing browser extensions such as Honey or Rakuten, which automatically find and apply coupons at checkout when you shop online. They also offer cash back at certain retailers, further reducing the total cost.

Budget for next year now

Minimizing the financial burden of a new school year starts by including your back-to-school costs into your budget ahead of time.

Review your receipts and bank statements to calculate how much you typically spend at the start of the school year and break that number down into monthly savings contributions. Then create a sinking fund, and include those savings as a monthly expense in your budget. This allows you to break down big spending into smaller, more manageable chunks and ensure your back-to-school fund is squared away for next year.

To maximize those savings, consider putting your back-to-school funds in a high-yield savings account (many of which earn 4% to 5% APY).