Back-to-School Reminders for Consumers

As back-to-school season approaches, many consumers are preparing to spend once again on school supplies and other education-related expenses.  According to surveys, merchants consider the back-to-school season as the second busiest time of the year.  August until September, consumers will be making their way into shops and establishments, filling their carts with notebooks, pens, books, etc.

student loanPreparing for Back-to-school Season

Being prepared is the best way to avoid debt problems which can result from overspending or splurges.  Consider the following reminders on how you can be more prepared this season:

 

 

Set a limit to your credit card use.

If you plan to purchase some items with your credit card, see to it that you will be able to pay back the full charge on or before your due date.  Don’t forget that if you will carry a balance, you will incur interest rate charges and it would mean paying more on your purchases.  You must also check your account before taking your credit card with your shopping.  You want to make sure that you will not be maxing out your credit which could pull down your score and increase the risk of bad credit.

 

Make a shopping list.

Never go to the bookstore without creating your shopping list before hand.  Jotting down the items you plan to buy will give you the time to consider carefully whether you really need to purchase one item or not.  Having a list will also give you an idea as to how much you need to prepare, whether you’re paying in cash or with a credit card.

 

Say no to extras.

Upon check out, you might be offered other items at a discount.  While it may seem like a great way to save money, accepting all those extra things in exchange for a few more bucks can prove to be costly.  You could end up exceeding your budget if you’re going to take all the offers you get.  So be prepared to say no!  If it’s not on your list, don’t purchase it even when you can buy it at half the price.

 

Review the receipt.

Most consumers do not bother to review the items in their purchase receipt but you might be paying for items that you did not put in the cart in the first place.  In case, you discover an error in your receipt, keep in mind that you have the right to dispute.

 

Check your credit card billing statement. 

Cardholders are advised to check their billing statement each month but you need to pay special attention this season to make sure that you are not being charged for purchases you did not make.  Exercise your right dispute and save money.

 

Talk to your kids.

Mothers are advised to talk to their kids about how much is allotted for their school needs and to make their back-to-school shopping list with their children, so they can understand the value of budgeting and saving money.  When your kids understand what’s going on, they would be inclined to only choose the things that they need for their studies.

 

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Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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