Tips for parents: Back to school budgeting in 2024

Working out your back to school finances should be straightforward and simple; it’s a matter of priorities. Our first tip is to work out what they need vs. what they tell you they do. If this is your child’s first year in school then they’ll need the basics like stationery, a bag, shoes and their uniform.

If your child is returning to school, check their coats, shoes and bags during the holidays and work out if they’re OK to be worn for another term. Kids can feel the pressure to keep up with the latest shoes or bags their friends have, but if their coat looks unworn and their bag is in great shape, you don’t need to worry about replacing them.

If your child insists on having the latest bag or pair of shoes, why not suggest they save their pocket money for them or discuss perhaps buying them a new one for next term.

If your child is going back to school, it’s likely some of their uniform is in good shape to be re-worn so make sure they try it on first. If they’ve grown out of it, try asking local parent groups if anyone has any secondhand uniforms, as we’ve covered in our back to school guide for parents.

If they have older siblings, reusing their backpacks and coats is a great way to keep costs and waste down for their first term.

There are some great secondhand clothing apps available for those extra PE kits or jackets too, helping keep costs down and saving the environment at the same time.

Shop online for those essentials such as back to school stationery and lunch boxes. If you have points with a supermarket, keep an eye out for any deals on stationery and other bits when shopping and gain more points or offers in the process.

If you’ve got more than one child going to school, look out for handy bulk deals like 3 for 2 online throughout the summer so there isn’t a big spending rush a week before term starts.

Try to shop online in places that offer free delivery or a free collection too, saving money where you can will help add up.

As parents, it’s hard not to think about where every pound goes but for kids who are just learning, it’s a great opportunity to teach them all about budgeting.

If your child is starting secondary school or trying the bus for the first time, they’ll need to know what their budgets are for the week before they start. We discuss secondary school and money matters in our secondary school and pocket money guide which helps you decide just how much to give. Having a conversation with them about budgeting during the summer holidays is a great way to get them thinking about money and how they spend it.

The Rooster Card* can help you to manage budgets by setting up a weekly allowance with your child and allowing you to receive notifications whenever they buy something.

Give the Rooster Card a go – you can get one month subscription free. Check out the feature list to see what you get* .

– It gives kids the independence they want, and the reassurance you need.
– Helps kids to start building good money habits – especially around budgeting.
– Instant alerts let you know what’s been spent and when.

Whether you choose to give them a weekly allowance with a Rooster Card, or a set amount to spend every day, teaching your children about back to school budgeting can set them up for a lifetime of good money management. Remember the back to school budget is a matter of needs vs wants. If you draw up a list and stick to it without going overboard, you’ll be able to tackle back to school finance successfully. If you are looking for more back to school tips and tricks read our handy back to school guide for parents where we help you get ahead with tips on sleep routines and school uniforms.