A recent poll from Morning Consult found that only 36% of parents can afford back-to-school shopping this year without any issues. The National Retail Federation’s latest back-to-school shopping survey also shows a third of families plan to cut back on other spending areas — in order to cover the cost of must-haves for the new school year.
Despite all of these challenges, there are some simple tips and tricks to save every penny you can for back-to-school shopping and beyond:
- Look for Student and Seasonal Discount: Flash your student ID and many popular stores will give you discounted rates. You can also take advantage of student discounts through sites such as Unidays and Student Beans. College students usually get the most discounts but many stores have savings for grades K-12 too.
- Spread Out Payments Over Time with Reliable Buy Now, Pay Later Options: With rising costs, many consumers are looking for greater payment flexibility when making back-to-school purchases. Pay Later with PayPal lets you spread payments out over time. For purchases between $30-$1,500, you can select Pay in 41 and break the cost into four interest-free payments with the first payment due at time of purchase. For those larger back-to-school purchases, you can select the new Pay Monthly2 option and break the total cost into monthly payments over a longer period of time. Pay Later with PayPal gives you more choice in how you pay for purchases so you can select the option that works best for your budget. Learn more at paypal.com/buynowpaylater.
- Use browser extensions for coupons and cash back: You might think you’ve found the best deal out there, but there’s a good chance there are even better prices still waiting to be discovered. The Easiest way to make sure you’re paying the lowest prices — is to Install the PayPal Honey1 desktop “browser” extension. This online shopping tool automatically discovers coupons at your favorite stores— and applies the best ones it finds at checkout. It even helps you layer savings by finding rewards that you can redeem for cash back. You can find it at: www.joinhoney.com
Shop Refurbished: There are plenty of apps and sites out there to help you track down any used or refurbished items on your list. Whether you’re shopping for textbooks, electronics or clothing, you’ll pay less than if you were to buy the item brand new. Plus, you can usually find discounted items in “like new” condition on many platforms for free.
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