Budgeting 'key' for back-to-school families

Mozo

Monday 31 January 2011

Australian families have been advised to draw up back-to-school budgets to help them deal with the various expenses that emerge at this time of year.

Budgeting 'key' for back-to-school families

Warwick James, general manager of communities at the Australian Scholarships Group, suggested that households draw up lists to help them prioritise their back-to-school spending and focus their energies on high-ticket items like uniforms, computers, software, internet access and textbooks.

"Shop smart by shopping around – buy it new cheaper at discount stores or online, buy it second-hand, or swap to meet your needs," he told the Sydney Morning Herald.

Aussies aiming to plan for future expenses could choose to compare savings accounts in search of the best returns. According to Mr James, parents could also seek to involve all the family in back-to-school budgeting and preparations as a means of encouraging financial responsibility among children.

Commenting on other money-saving measures, the newspaper noted that one contributor to the Simple Savings website had saved over $500 on school uniforms by recycling her four children's still-fitting uniforms while rejuvenating them dark blue fabric dye costing $11.95.

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