Smart Ways to Budget for Back-to-School Shopping

Summer flies by, and before you know it, it's time to prepare for another school year. Whether you're replacing school supplies, buying new clothes, upgrading technology, or paying activity fees, back-to-school expenses can add up quickly.

 

The good news? A little planning goes a long way. By shopping strategically and taking advantage of savings opportunities, you can stretch your dollars.

 

Key Takeaway: The best way to save on back-to-school expenses isn't one big sale — it's combining money-saving strategies together.

 

Take a look at these tips and pick the ones that work best for you and your family to save more on your back-to-school shopping.

 

 

Before heading to the store, take stock of what you already have. That often means opening those backpacks you tucked away at the end of last school year.

 

Many supplies — binders, calculators, lunch containers, folders, and backpacks — may still be in great condition or have never been used at all.

 

Try This: Reusing even a few school supplies each year can make a noticeable difference in your back-to-school spending. Once you've checked what you have, make a shopping list for only the items you still need.

 

 

Technology can be a big back-to-school expense — but not every student needs a new laptop.

 

Many K–12 schools provide Chromebooks or laptops for classroom use, so check with your school before making a major purchase. If you're shopping for a college student or your school requires students to supply their own device, take time to compare models and choose one that fits the coursework — not just the latest features.

If your current laptop still meets your needs, consider waiting another year before upgrading. While there are still deals available, laptop prices have been affected by increased demand for computer chips used in AI technologies and data centers, along with supply chain and market pressures.

 

Try This: If your current device still works, don't feel pressured to buy a new one in August. Waiting for the right promotion — or taking advantage of education pricing from retailers like Apple — could save you hundreds. You could also consider setting aside a little each month in a savings account for future technology purchases.

 

 

Not all back-to-school deals offer the best value. Before you check out, compare prices across retailers online and in-store. One store may have the best deal on notebooks, while another offers better pricing on shoes or backpacks.

 

Shopping early also gives you a better chance of finding the sizes, colors, and supplies you need before popular items sell out.

 

Try This: Student discounts can provide even more savings. For example, Target offers eligible college students 20% off your entire order on qualifying purchases, and you can take an additional 5% off if you have a Red Card. Walmart has also announced the return of 14 back-to-school essentials at 2019 prices, like a $0.50 box of markers, to help families save on school necessities.

 

 

Many states offer a sales tax holiday before the school year begins, temporarily eliminating or reducing sales tax on qualifying purchases like school supplies, clothing, and shoes.

 

For customers near First Mid locations, sales tax holidays include:

• Illinois: August 7–16, 2026 
• Iowa, Missouri, and Texas: August 7–9, 2026 

Not in one of these states? Sales tax holidays vary by state. Check the dates and qualifying purchases where you live. 

 

Try This: Shopping online? If your purchase is shipped to a state with a sales tax holiday, qualifying items are generally tax-free — even when buying from an out-of-state retailer. Most major online retailers automatically apply the exemption at checkout as long as your purchase meets your state's eligibility rules and is completed during the tax holiday.

 

 

Before you shop, check whether your favorite retailers offer loyalty programs, digital coupons, or back-to-school promotions. Many stores provide exclusive discounts or bonus rewards to members, helping you save beyond advertised sale prices.

 

Did you know? Your First Mid Benefits Checking account includes access to a shopping rewards portal where you can earn cash back at thousands of online retailers. Whether you're shopping for school clothes or other back-to-school essentials, those rewards can help offset purchases you were already planning to make.

 

Try This: Consider buying frequently used supplies — like notebooks, pencils, tissues, and hand sanitizer — from warehouse clubs or during back-to-school sales. If you have multiple children or know you'll use them throughout the year, buying in bulk can help lower your overall costs.

 

 

Before you start shopping, decide how much you'd like to spend. Having a plan for major categories like school supplies, clothing, technology, and extracurricular activities can help you stay on track and avoid impulse purchases.

Back-to-school shopping doesn't have to strain your finances. With a little planning, comparison shopping, and smart use of discounts and rewards, you can send your student back to school prepared while keeping more money in your pocket.

Try This: Pass on smart spending habits by involving your children in back-to-school budgeting, comparison shopping, or setting a spending limit for a higher-priced item they can choose, like a backpack. You can also include them in grocery budgeting and let them help plan school lunches for the week.

Looking ahead? If you have a high school or college graduate at home, explore our financial checklist for graduates for tips on managing money, banking, building credit, and preparing for financial independence.