School Supplies on a Budget

On a day-by-day basis, the cost of living is constantly increasing. This includes increased gasoline, electric, medical and housing costs. However, for the majority of us, our wages are staying the same and not increasing with the changing times. When it comes to buying school supplies, follow this advice: Do not wait until the last minute! Shopping for school supplies should be a year round venture. Your child's school supplies should fit into your household budget. What? You do not have a budget plan? Shame on you! Well it is never too late to start.

A budget plan looks simple on paper. However, it is difficult to follow if all working individuals do not act as a team. This even includes the child who makes money by delivering newspapers or babysitting. Every part of the income should be allocated into different sections. Sometimes it may be necessary to have different checking or savings accounts. Below is an example household budget plan:

Housing 20%-Even if you do not have a mortgage payment, this money can be used for repairs
Car 20%-This includes the maintenance your car needs
Electric/Oil 10%-Oil if you heat your house
Personal Debt 10%-This is for personal loans and credit cards
Savings 5%-This can be higher if you do not have to pay a certain bill during the week
Cable/Phone/Internet 5%-And any online entertainment you are engaged in
Groceries 5%-This includes take out food and going to restaurants
Medical 5%-This includes prescriptions and co-pays
Clothing 5%-School, play and work clothes
School Supplies 5%-What your child needs for school. See it fits in the budget!
Spending 5%-If you really must buy that new gadget that you do not really need
Entertainment/Vacation-5%-For doing something with your family

The rule of thumb of the budget is that it can be flexible. For example, if you do not buy clothes one week, you can put that money into the savings account.

For some people a budget just does not work. For example, a family may have too much credit card debt where ten percent of the weekly income will not even be enough to cover the monthly payment. To be able to buy school supplies, these people can try to set aside a specific amount of money, such as $20 a week, into the savings account. In order to do this, they have to find ways to cut back on money. Here are some tips that will help them to not only cut back but to allow them to save money.

Canceling Club Memberships-Why waste your time at the gym when you can work out in your home? Are you even getting your money's worth by going to the gym? You can find good exercise equipment at garage sales for a reasonable price.

Brown Bag It-For the convenience, people tend to use the vending machines at work to buy lunch. However, a sub can cost up to $3.00 and a 20 ounce bottle of soda costs $1.50. You can save money by making your own lunch and bringing it to work. This is even true for your children. It is cheaper to make their lunch than buying it at school.

Look for bargains whenever possible-If there is something that you absolutely must have, you can save money by comparison shopping. If you are patient, you can find something at the lowest cost possible.

Finally, you can make more money. If you have items collecting dust in the attic, sell them. You can either have a garage sale or, if you want to make more money, sell the on http://www.ebay.com.

Buying school supplies on a budget can be challenging. However, by either following the budget plan or learning to cut back as little as $20 a week, your shopping experience will be easier.