For many families and students, August means trading in beach days for book bags and sunny afternoons for study sessions. But it also means preparing for one of the year’s most expensive seasons. From classroom supplies and school fees to transportation and meal plans, back-to-school costs can add up quickly.
Whether you’re sending a kindergartener to their first classroom or a college senior back to campus, the right financial game plan can help keep the season exciting instead of overwhelming. At Community Bank, we’re here to help you manage these expenses with confidence, using smart planning and digital tools like CB2GO to make the process easier.
Table of Contents
1. Start with a Clear Back-to-School Budget
Before shopping or paying deposits, take a step back to outline your total expected expenses. This might include:
- School supplies: notebooks, backpacks, calculators, and art materials.
- Technology: laptops, tablets, and software subscriptions.
- Clothing: uniforms, shoes, and seasonal essentials.
- Fees: sports, activities, parking, and lab fees.
- Food and meal plans: groceries, cafeteria meals, dining hall passes, or packed lunch supplies.
- Transportation: gas, bus passes, or ride-share costs.
Once you have a complete list, divide it into must-haves and nice-to-haves. This will help you prioritize spending if you need to make adjustments.
CB Tip: Use CB2GO to create a category-specific spending plan and track your purchases in real time. This helps you see where your money is going and make quick adjustments if needed.
2. Take Inventory Before You Shop
It’s tempting to start fresh with all-new supplies each year, but you may already have items you can reuse. Check closets, drawers, and last year’s backpacks for gently used supplies that are still functional for the new year.
For college students, take stock of dorm essentials such as lamps, bedding, kitchenware, etc., before buying new. You might be surprised at how many items you can carry over.
CB Tip: Involve your kids in this “inventory day” to teach them about resourcefulness and money management.
3. Time Your Purchases for Maximum Savings
Not all school shopping needs to happen at once. Spread out purchases to take advantage of seasonal sales and promotions. Many states also offer tax-free weekends for school-related items, so be sure to check your state’s schedule before heading out.
Wondering when it’s a good time to buy the typical back-to-school items? Here’s a tentative schedule:
- Early August: Stock up on supplies during early back-to-school sales.
- Late August/Early September: Watch for clothing markdowns once the rush is over.
- Throughout the semester: Buy bulk snacks and essentials when they’re on sale.
4. Plan for College Costs
For families with college students, tuition and housing are just the beginning. Additional costs, like lab materials, club fees, travel, and more, can strain the budget if not anticipated. Here are some tips to help you manage this:
- Set a semester budget that includes discretionary spending like coffee, takeout, or entertainment.
- Encourage responsible card use by setting spending alerts through CB2GO.
- Consider a dedicated savings account for education-related expenses to avoid dipping into emergency funds, and if you need additional funding, explore Student Loans from Community Bank, which offer competitive solutions through our partnership with Sallie Mae®.
CB Tip: Use CB2GO to transfer money instantly between accounts or send funds securely if your student needs help during the semester.
5. Leverage Technology for Smarter Spending
The CB2GO mobile banking experience is a powerful tool for managing back-to-school budgets on the go! With it, you can:
- Track spending by category to see where your money goes.
- Set custom alerts for specific transactions or account balances.
- Deposit checks remotely, saving time during busy weeks.
- Turn debit cards on or off instantly if they’re misplaced.
- Plus many more helpful features!
This level of convenience and control helps you stay within budget while giving students the financial flexibility they need.
6. Shop Smarter with Cash-Back and Rewards
If you’re using a rewards credit card, plan your purchases to maximize benefits. Many cards offer bonus points or cash back on specific categories like groceries, gas, or office supplies during the back-to-school season.
CB Tip: only charge what you can pay off in full each month to avoid interest charges.
7. Involve the Whole Family in the Process
Budgeting for back-to-school doesn’t have to be a solo task. By involving children or teens, you can turn it into a valuable learning opportunity. Here’s some strategies to get started:
- Have younger kids help compare prices or choose from a set budget — and consider opening a Minor Savings account so they can start building a secure financial foundation while learning the value of saving.
- Encourage teens to contribute from summer jobs or allowance.
- Show college students how to track their own spending with CB2GO.
These skills will serve them well in school and prepare them for life after education.
8. Plan for the Unexpected
Even with the best planning, unexpected costs, like replacing lost supplies or paying for a last-minute field trip, can arise. Build a small cushion into your budget to handle these without stress.
If larger expenses come up, explore financing options or personal loans from Community Bank that fit your needs without derailing your long-term goals.
9. Make Use of Smart Banking Solutions for Students
For high school seniors heading to college or college students returning for another semester, managing money is an important part of the back-to-school checklist. Community Bank’s Student Direct Checking account is designed specifically for students, making it simple to handle everyday expenses while focusing on classes.
With this account, students enjoy:
- No monthly fee: More money stays in their pocket for books, meals, and activities.
- No minimum balance requirement: Perfect for students just starting to build good banking habits.
- Secure debit card: Convenient for everyday purchases and ATM access.
- Mobile check deposit: Deposit checks anytime, anywhere with CB2GO.
- Direct deposit: Get funds from jobs, scholarships, or family quickly and securely.
- E-statements: Stay organized and reduce paper clutter.
- Account alerts: Keep track of balances and transactions in real time.
Paired with CB2GO, Student Direct Checking gives students the flexibility to track spending, transfer funds, and pay bills from anywhere, whether they’re across town or across the country.
Learn more about Student Direct Checking here.
Start the School Year Strong!
Back-to-school season should be about fresh starts, not financial strain. By planning ahead, tracking your spending, and using the right tools, you can set your family and your student up for success.
Community Bank is here to help you every step of the way, whether it’s setting up a savings account, exploring student-friendly banking options, or using CB2GO to keep your finances at your fingertips.
Explore more financial tips and tools on the Community Hub.Follow us on Instagram @mycommbank for seasonal money tips and community updates.
Disclaimer: The information provided in this article is for general informational purposes only and should not be considered financial advice. Interest rates, terms, and conditions mentioned are illustrative and do not reflect actual rates offered by Community Bank. For detailed information and personalized advice tailored to your specific situation, please consult with a financial advisor.
