How To Shop Smart For Back-To-School Costs and Save

The Australian Scholarships Group (ASG) has released Back-To-School Smart Shopping Tips to assist families negotiate the financially stressful 'back-to-school' period.

"Feedback from ASG's members indicates preparing their children for Back-To-School is financially stressful because it comes straight after the holidays and the gift-giving period when the credit card bills arrive, so requires careful budgeting for education expenses. These expenses include school tuition fees and levies; requisites; uniform and clothing requirements; incidentals; and computer and internet costs," ASG's General Manager of Communities, Warwick James says.

The Australian Scholarships Group is Australia's largest independent friendly society specialising in education benefits programs. Its mission is to help parents provide education opportunities for their children. ASG's members provided estimates for the cost of the formal years of education (preschool, primary, and secondary schooling) for a child beginning preschool in 2007 to amount to more than:

* $100,000 for a child in government education, or
* $178,000 for a child in independent/denominational education, or
* $330,000 for a child in private education.

"Really, there's no secret to managing education costs across the board and planning to meet your children's education expenses," Warwick James explains, "it all begins with getting organised, prioritising, planning and budgeting, focusing your energies on the high-ticket items where you'll gain the greatest benefits, and shopping around."

Here's an overview of ASG's recommended steps to saving on Back-To-School costs:
1. Getting organised is the best way to control your finances - use lists and plan - start sooner rather than later

2. Prioritise your needs and expenses - these are your goals

3. Plan how to meet your goals through the preparation of a budget

4. Assess what you already have that can be recycled for different purposes and children

5. Focus most of your shop smart energy on your highest cost items - uniforms, computer, software and internet access, as well as, textbooks, tend to be the higher cost items for most families

6. Shop smart by shopping around - buy it new cheaper at discount stores or online, buy it second-hand, or swap to meet your needs

7. Becoming more financially savvy and encouraging the development of financial responsibility among the family is essential for meeting long-term education goals

ASG believes the process is a personal experience for each family, but recommends involving all the family in Back-To-School preparations and making bargain hunting and smart shopping a fun responsibility for each family member.

"This way families can avoid Back-To-School blues and a major slug on the hip pocket," Warwick James says. "It's a subtle way of introducing or reinforcing budgeting skills and financial responsibility in children - two really valuable skills for adulthood."

1. Getting organised is the best way to control your finances - use lists and plan - start sooner rather than later

* You are more likely to avoid the overspending trap if you are organised.
* Identify your expenses for each of your children, including: