Media City Credit Union, a local financial cooperative who returns its earnings back to its Member-Owners, focuses on helping people and giving back to its community. As a new school year approaches, Media City CU understands the importance of budgeting and saving on back-to-school shopping, providing great tips to help you stay on track.
Starting a new school year is exciting for students across all levels of education. However, back-to-school supplies and expenses can quickly add up and impact your usual spending habits. We have narrowed down the best financial tips to help you remain in control of your back-to-school spending:
- Take advantage of sales and discount stores. During the summer months leading into fall, major retailers often offer special back-to-school sales for traditional school supplies. Discount or “dollar” stores are also a great place to shop for the bare essentials or buy in bulk without breaking the bank. Utilize these sales and discount stores to your advantage by purchasing standard items at a discounted price.
- Search for sales on specialty items. Technology has become essential in the educational landscape, but consumers often find themselves in a bind when needing to invest in new equipment for school while on a budget. Be on the lookout for special sales on items like tablets, phones, laptops, etc. prior to the beginning of the academic year. Tech device retailers tend to run education sales for consumers to take advantage of. In addition, companies like Apple offer education pricing year-round to help offset the costs of incorporating top-of-the-line technology into your education routine.
- Compare product prices online and in stores. While looking at specific products, be sure to compare the in-store price with the online price as sometimes you can save money on one versus the other. Always double check online retailers to look for savings opportunities before making a purchase.
- Swap/trade school supplies. If you are looking to really save on school supplies try trading gently used supplies with another student or handing down supplies from an older sibling. Friends and siblings often can save money by passing down textbooks, gently used equipment, and even tech devices.
- Buy used or refurbished items. Higher-priced items like laptops and textbooks can be costly, but there are savings to be had when purchasing a used or refurbished option of the same item. Buying used can often knock off hundreds of dollars on an expensive item, which is great for textbooks that will only be used for a portion of the school year.
- Stick to the list. Schools, universities, and academic institutions often provide a specific supplies list with the expected and/or required materials for the school year. Certain classes have specific equipment needs, while other courses require general note-taking materials. While it can be tempting for you or your student to stray from the list and buy unnecessary items, sticking to the provided list can really help you stay on track and in control of your budget, potentially saving you hundreds of dollars in unnecessary spending.
- Teach your children/students about budgeting. Use back-to-school shopping as an opportunity to teach an important lesson to your student about financial planning. There are apps and other fun ways to get children involved in financial literacy and make the task of budgeting seem more approachable. Not only will this help them with saving during school shopping, but it will also instill positive habits that will aid them in their financial future. Bonus tip: you can sign your student up for a youth account with MCCU to help them become more acquainted with financial responsibility.
Back to school shopping does not have to be a daunting task. Plan, prepare, and do your research in order to find the best deals and ways to save on essential school items. To learn more about services offered at Media City CU, reach out to our team or visit our website at mediacitycu.org.
About Media City Credit Union
Media City Credit Union has served its members since 1936 when we were founded by
employees of Helms Bakeries. A credit union is like a bank, only better. Media City offers checking, savings, credit cards and loans, yet profits are returned back to members in the form of reduced fees, higher savings rates and lower loan rates. Media City CU is a financial cooperative, giving back to its member-owners.
The credit union provides fee-free access at 75,000 ATMs worldwide and provides online account access. If you live, work, worship, or attend school anywhere in Burbank, or if you have a relative who is already a member, you can become a member too. As soon as you join, your family members also become eligible. Media City CU partnered with the ChangeWorks Foundation and by making a minimum $25 donation to this wonderful cause (Media City matches the $25 donation), you also become eligible for membership. New members enjoy immediate access to all services, including loans.
