It is that time of year again: Back to school! That means pens, paper, books, gadgets, backpacks, and new clothes. The costs can really can add up unless you are planning on shopping like a pro. If you are new to the game, we have some tips for you to save when it comes to back-to-school shopping. Also, If you want to turn the back-to-school season into a good investment, we are sharing a few ways to invest!
How To Save on Back to School
Shop Amazon Deals
- This year’s Amazon Prime Day was in July and parents used Prime Day as an opportunity to get a jump on back to school shopping. With this year’s Prime Day sale surpassing its 2016 Black Friday and Cyber Monday results, Amazon has kept some of those deals going.
- No one says you can only shop for school supplies in August and September. Keep an eye out through the school year so that you can stockpile (lol) school supplies when they go on sale. Next year, your savings could be huge because you already have supplies in your own personal stock.
Tax-Free Shopping Weekend
- I had never heard of a tax-free shopping weekend before. The weekend aims to help parents save around back-to-school time. Check out if your state is having a tax-free weekend and what the dates are to load up on supplies without any sales tax.
Coupon and Thrift Shop
- Couponing has always been one of the best savings boosters. Join Coupon Groups on Facebook, subscribe to online events like Coupon Cabin, and shop with physical coupons when you can. Thrift shops like the Dollar Store and Goodwill can provide some treasure if you know where to look. One Goodwill tip is to shop at the one closest to the expensive part of town. The wealthy are more likely to turn over clothes more quickly and donate instead of throwing things away. You could score some quality clothes for cheap!
How To Make $$
According to the National Retail Federation, spending on back-to-school is expected to reach $83.6 billion in 2017. Every buying frenzy creates an opportunity for savvy investors to profit. We are here to shed light on a few picks that might potentially benefit from this time of year:
Newell Rubbermaid (NWL)- Unbeknownst to kids, the same company that makes their family’s Rubbermaid food containers also produces Sharpie magic markers, Mr. Sketch scented markers, and Uni-Ball pens.
Staples (SPLS) -This office supply chain launched its Back to School Center in late June and is normally the go-to for parents looking for paper, pens and school supplies.
VFC Corp (VFC) – For back-to-school shopping. VFC owns popular companies like The North Face, Vans, Wrangler jeans and the backpack supplier JanSport.
Apple & Best Buy – Every year, schools become more digitally integrated. Smartboards are replacing chalkboards; netbooks are replacing notebooks. New laptops and iPads have become a staple, and parents and kids might look to Apple and Best Buy to fill those needs, increasing revenue. Buy gift cards of Apple stock here.
If you want to skip the expensive gadgets, clothes and school supplies and instead invest in your child’s future, set up an UTMA account today.
Don’t know what exactly an UTMA account is? We cover it for you here: What is an UTMA?