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Planning: Tools & Services > Education Center > Doing Your Homework for Back-to-School Shopping
Doing Your Homework for Back-to-School Shopping

Major retailers tell us that their back-to-school sales figures are eclipsed only by the Christmas shopping season. And with families spending an average of $500 per child on back-to-school items, it’s no wonder why stores’ smiles grow wider at summer’s end.

Families generally cannot avoid the need for back-to-school shopping, but there are ways to make it less costly and to frame it as an opportunity to teach good money management skills to kids. Consider these age-old lessons:

  • Do your homework. Kids and parents should sit down together to discuss what is needed. Remember to decipher between wants versus needs when you are pulling together those shopping lists.
  • Walk, don’t run … to get all of your shopping done. Take some time to comparison shop. Help kids spot special sales and scan ads for the best prices on certain items before hitting the mall.
  • Take turns. Have kids be responsible for covering some of the costs of back-to-school items. It will teach them how to stick to a budget to get all that they need. Their parents should not forget to model the same accountability in their own spending on back-to-school items.
  • Share. Avoid getting caught up in a "spend, spend, and only spend money on me" mode. How about donating something to families who don’t have the financial resources to prepare their kids for school?

 

 
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Thrivent Financial for Lutherans, Appleton, WI 54919-0001, is authorized to conduct business in all 50 states and the District of Columbia. NAIC # 2938-56014. Products issued by Thrivent Financial for Lutherans are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Not all products described are available in all states. Thrivent Financial representatives are licensed insurance agents. Insurance and retirement products, where available, are individual contracts, (not group coverage), and issued by Thrivent Financial for Lutherans. Investment products are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415-1665, a wholly owned subsidiary of Thrivent Financial for Lutherans. Member FINRA. Member SIPC. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc.

Bank products and trust services are offered through Thrivent Financial Bank, 2000 E. Milestone Dr., Appleton, WI 54919-0006 (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, investment products, securities, trust, and investment management services and accounts are not deposits, are not FDIC insured, are not insured by any federal government agency, and are not guaranteed by Thrivent Financial Bank. Variable insurance contracts, investment products, trust, and investment management accounts may go down in value.

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This document was last updated on Friday, June 28, 2002 at 2:56 PM