In the northern hemisphere, August is considered the height of the summer vacation period: when schools are on holiday and offices get into a lull because many employees take their vacation at that time. However, August also signals the end of summer and the start of the new academic year for students, for which new books, school supplies, uniforms, etc., will be needed. For working adults, September can seem like a new start, which depending on the organisation may grow more hectic as we approach the end of the year.

In changing gears from vacation to back to work or school, here are some shopping tips that can help you prioritise your spending and save you money.

 

1.  Create a list and prioritise your needs

It almost goes without saying that the first order of business is to know what you need – what new items you need to buy, what needs to be replaced and what might need to be repaired, refurbished or serviced. Once you have created that list, it is recommended that the items are organised in order of priority, and as such, identify the most crucial items that ought to be tackled first.

 

2.  Establish a budget

Once you have created your list, it is time to create a budget. At this stage, it is a good idea to do some research to determine exactly what items you will be buying, in terms of the make/brand and model, along with what might be the best prices to which you have access. It is suggested that you include all of the items on your list in your budget so that you have a true sense of how much you may need to spend in total to secure all of what you have listed.

 

3.  Save over time

The odds are likely the spending money that you have allocated from your August paycheques may not be enough to cover all of the items on your back-to-school and/or back-to-work buying list. The trick, therefore, is to put money aside over time for the purchases you would like to make.

If you are just starting to save, it may mean that you may only be in a position to buy certain items either a few weeks or months from now. Although it may not be convenient to delay some purchases, the focus is on being financially responsible, which means not putting yourself in undue debt to have something now.

 

4. Spread out the shopping

Following from the previous point in accumulating the funds over time for your shopping list means that you may not be able to purchase all of the items at one – which is not necessarily a bad thing. First, picking up items a bit at a time will allow you to continue to refine your shopping list. Depending on what you have been able to purchase, some items may no longer be as urgent, whilst others might become more important. Second, you can take your time evaluating prices and products to ensure that you get value for money and that the purchase will suit all of your needs.

 

5.  Take advantage of sales and other discounts

August and September are popular months for sales, so do take advantage of them if they are available in your area. Also, if discount coupons are being offered, or there are tax breaks to coincide with the back-to-school period, use them to save money on your purchases during this period.

Having said this, do read carefully the conditions for the sales and discounts being provided, as they may not necessarily apply to you or the items you wish to purchase, or they may not apply exactly the way you had expected. Sales can cause us to impulse-buy, more so to not stick to the items on your list. In the long run, you may end up spending more money than you had planned.

 

6.  Shop second-hand

As much as you would like to have brand new stuff, it may not always be necessary or practical to do so. Consider purchasing some pre-owned items, such as shoes, bags, accessories and some electronic goods. Depending on where you live, there may be some good consignment shops or thrift stores you can check out, and also check online as well.

 

7.  Be a smart shopper

Finally, and although an important emphasis of this list is to help you save as much money as you can, it is also crucial to know when to save and when to invest in certain items. In other words, there are items on which it is not advisable to skimp – either in terms of price or quality.

For example, when buying clothing and supplies that take a lot of wear and tear, such as jackets, shoes, coats and backpacks, the quality and consequently the durability of these items ought to be considered. It may require you to pay a bit more than for a ‘cheap and cheerful’ option, but you are likely to realise greater value for money in the long run.

 

 

Image:  Estée Janssens (Unsplash)