Posted in finance, loan companies, savings

Consumers Expect To Spend More On Back-To-School Shopping

Consumers Expect To Spend MoreMany consumers use the back to school season to shop for much-needed items for the year, but it’s important not to break the bank in the process. Before you hit local retailers to buy your children new clothes and school supplies, make sure it fits your overall budget. According to a recent survey conducted by Deloitte, 88 percent of households plan to spend just as much, or more, on back-to-school shopping this year as they did in 2021. However, the average price of goods has increased, so consumers may not get as much for their dollar.

Specifically, nearly 58 percent of respondents said the main reason they plan to spend more on back-to-school shopping this year is due to the rising cost of goods, not because their financial situation has improved. Meanwhile, 34 percent said they will have to spend more because their children require more expensive items.

A growing number of households also revealed they plan to have their children contribute to these expenses. The survey found that 68 percent of parents expected their children to spend $51 or more on back-to-school shopping. This is an increase of 18 percentage points from last year. In other way, you could find yourself using a personal loan program to cover your monthly expenses until your next paycheck arrives. However, even if you plan to have your children help pay for back-to-school shopping to take some pressure off your budget, there are still a number of ways to save more money.

Steer Clear Of Trends

Buying your children the newest styles and gadgets just so they go back to school sporting the latest trends is a quick way to break the bank.

Many trends are no longer seasonal. In fact, if you pick up the newest products for your child today, they will most likely be old news by the time the school year starts. If you still insist on buying your children the latest trends, try to hold off until the last minute, so you won’t have to go shopping again in a few months.

Look For End-Of-Summer Sales

Another advantage of holding off on your back-to-school shopping is you may be able to take advantage of end-of-summer sales. Most of the clothing you find on sale at the end of the season should be wearable well into the fall weather, so take advantage.

Additionally, if one of your children hits that inevitable growth spurt shortly after you buy all of their back-to-school clothing, you may find yourself on another shopping excursion if the first was premature.

Make A List And Stick To It

One of the quickest ways to exhaust your back-to-school shopping budget is to buy items you don’t really need. To prevent impulse purchases, create a list of exact items and stick to it. Some schools even create checklists for you.

Meanwhile, if your children are persuasive about buying an item off the list, try to sleep on the decision. You might wake of the next morning with a sense of regret if you act on your impulses.

Buy Generic

While it can be difficult to find generic clothing brands, there are usually a number of options when it comes to school supplies. Major office chains, such as Staples and OfficeMax, stock generic items that carry their own labels. Since many of these products are comparable to popular brand names, it could be worth comparing prices.

Posted in currency, finance, online payday loans, savings

Tips for finding the best savings account

When you want to save money you could see that it is going to be difficult at times. That is when you should know that you can have some tips for fining the best savings account. Now you may not think that it is going to be that difficult, but you need to realize that without some tips you could easily be taken advantage of and that could lead to you not being able to save the money that you need to.

One tip that can help you in finding a savings account will be to look at your local banks. Now you may think that you can use the Internet banks that are present, but you need to realize that this could easily be a mistake because if you need the money right away you may not be able to have instant access to the money like you would if you stayed at the local bank.

Another tip that can help you in finding the best account for your needs is to compare savings accounts. This can be a difficult thing to do for many people, but you need to realize that by doing this you can see which bank is offering the best rate. However, you can also find out what kind of minimum qualifications each one of the banks is requiring to determine if you can meet those requirements or not.

Being able to save money is a wonderful thing for many people. However, what people may not realize is that they need to shop around to the various banks that are present. By shopping around at the local banks and even the Internet banks you will be able to see which one of these banks is going to suit your needs even better than what you thought.