Consumer Corner: Cost-cutting back-to-school tips

There are financial supports available for those who are struggling with associated back-to-school expenses

Worryingly, the survey found that 29% are getting into debt compared to 24% in 2021, with the average debt coming in at around €339.

Back-to-school expenses can bring a lot of stress and this year even more so with costs rising. According to a survey from the Irish League of Credit Unions, (ILCU) parents are spending €1,518 on equipment and uniforms for secondary school children, which is up €27 from last year. At primary school level, parents are spending €1,195, up €9 from last year.

Worryingly, the survey found that 29% are getting into debt compared to 24% in 2021, with the average debt coming in at around €339.

Many school costs are unavoidable but there are some ways to manage the financial hit. Firstly, do an inventory of what you have at home. Try on the uniforms from last year and see how they fit before rushing to buy new ones. Check what you have in your drawers and cupboards. You could even make a game of it with the kids. See if they can find a highlighter or pen, and who can find them the fastest. These could be reused for the coming year.

The second tip is to wait for deals after the rush. You will often find that stores will discount the likes of lunchboxes and shoes after the initial back-to-school rush and if you can wait a few weeks you could bag yourself some good bargains.

Don’t be afraid to reuse what you already have too such as folders and copy covers. Also, give last year’s school bag a wash and it could come out looking like new, saving on the cost of buying a new bag.

Saving and planning ahead is also key to managing school costs. Putting a bit away every week of the month can help bring down costs. Even putting aside €10 a week for a year would amount to a €520 fund to help cover costs. Online savings plans like Revolut Vault are great for this.

Kevin Johnson, CEO of the Credit Union Development Association said that while it’s impossible to plan for the next 18 years of your child’s life, formulating and staying on top of long-term/short-term budgets is key.

“When it comes to paying for school costs, it is definitely a case of ‘you get out what you put in’. If possible, take your time and make a list of what you need in early August and spend a few weeks shopping around for the best value items. There are some really good bargains out there and while it may take you a little bit more time the savings you make could be well worth it.

“Also, remember that not everything has to be brand new. If your child has siblings, cousins or even friends who are a year or two ahead in school then it might be an idea to speak to their parents about maybe buying some second-hand items for a low price.”

The ILCU survey also found there has been a significant jump in the number of parents cutting back on extra-curricular activities this year, rising to 67% from 46% last year. It also revealed that 65% of schools are still seeking ‘voluntary contributions’ at €124 for primary schools and €146 for secondary, an overall average increase of €11 on last year.

There are supports available from the Department of Social Protection such as the Back to School Clothing and Footwear Allowance which will be paid to 124,000 families. This support will remain open for applications until September 30 and can be used to meet the costs of uniforms, shoes, and school books. MABS also has a list of supports available on their website.