The National Retail Federation predicts combined spending for back to school and college is expected to reach $74.9 billion, or $669.28 per family on apparel, shoes, supplies and electronics, up 5 percent from last year. That’s quite a bit of money for many Oklahoma families, so it’s best to try and make that dollar amount stretch as much as possible.
Here’s a tip from Oklahoma CPAs on a way to ace the budget:
Check the closet first.
If often seems young children grow out of their clothes quicker than you can buy new items. However, before hitting the shops, take a look in the closet to check to see what still fits and what is worn out. Maybe an older sibling’s gently-worn clothes could be used to supplement a younger child’s back-to-school wardrobe. Also, don’t forget to check out some resale shops for cool vintage clothing at a fraction of the retail price.