Back-to-School Budgeting: How to Spend Less and Get More for Your Kids

The new school year is fast approaching, and you want to make sure your kids are ready for it. You want them to have everything they need, from textbooks and uniforms to gadgets and tuition fees. But you also know that these back-to-school expenses can put a dent in your budget, especially if you have a fixed monthly income. How can you balance your finances and provide for your kids’ education?

Here are some smart budgeting tips you can apply to avoid overspending in the upcoming school year.

These tips are provided by Home Credit, a leading consumer finance company.

Tip #1: Make a list of school essentials and other important expenses
Before you go shopping for school supplies, make sure you have a clear idea of what your kids will need and how much they will cost. A detailed list can help you prioritize the essential items and fees, and avoid buying things that are unnecessary or redundant.

To make your list more accurate, check your kids’ school supplies from the previous year and see what can be reused or recycled. This way, you can save money and reduce waste at the same time.

Tip #2: Set a realistic budget based on your income and expenses
Once you have your list, you can estimate the total cost of your back-to-school needs and compare it with your income and other expenses. This will help you set a realistic budget that you can stick to without compromising your financial stability.

To make your budget more effective, try to track your spending habits and identify areas where you can cut costs or save more. For example, you can cook more meals at home instead of eating out, or use public transportation instead of driving. These small changes can add up to big savings over time.

Tip #3: Look for deals, discounts, and sales
One of the best ways to save money on school supplies is to shop smartly. Look for deals, discounts, and sales that can lower the prices of the items you need. You can also buy in bulk or stock up on supplies when they are on sale, so you won’t have to buy them again later in the year.

Another benefit of shopping smartly is that you can stretch your budget further and buy additional items for your kids or allocate the saved money to other essential expenses at home.

Tip #4: Apply for a back-to-school cash loan from Home Credit
If you need extra cash to cover your back-to-school expenses, Home Credit has the perfect solution for you. Home Credit is a financing company that offers a back-to-school cash loan promo for its eligible customers until August 31, 2023.

By using the My Home Credit App, you can easily apply for a cash loan anytime and anywhere. You can borrow from PHP 3,000 up to PHP 150,000 to pay for your kids’ tuition fees, school supplies, gadgets, and more. You can also choose from flexible payment options that range from 12 to 60 months and get up to five months of free installments if you pay on time.

To qualify for this promo, your account must be active and in good credit standing during the offer period. You can also enjoy Home Credit’s ongoing promotions even after participating in the back-to-school cash loan promo.