As we soak up the remaining days of summer, the month of August signals the start of an important time in many households, back-to-school season! While the excitement of a new school year and a fresh start builds, many families are hitting stores, school supply lists in hand. According to the National Retail Federation and Prosper Insights and Analytics’ annual back-to-school spending survey, families with children in elementary school through high school are expected to spend an average of $696.70, which would top the record of $688.62 set in 2012. Families with college students are expected to spend an average $976.78, which is up from last year’s $942.17 and would top the previous record set in 2017 of $969.88. With expenses like that, getting ready to start a new school year without breaking the bank can be challenging. Luckily, with a little more time and research, it’s possible to check off every item on your list without blowing your budget. Check out our back-to-school savings tips:

Shop online: It's easier to stick to your list and compare prices when you can see all of your options at once, from the comfort of your own home. Sites like Amazon and Target often offer free shipping and carry the same products you would find in stores.

Keep an eye on ads: While you might normally ignore ads from retailers that you receive in the mail or your email inbox, now is a good time to pay attention to them. Many stores offer limited-time back-to-school deals to get people in the door. 

Make a list of what you already have: Check junk drawers, backpacks and closets for unused supplies that have been sitting around all summer.

Take advantage of tax holidays: Many states offer tax-free weekends, which allow you to purchase your supplies without having to pay tax. Do some research before you head to the store to see which items are covered.

Use your student discount: When it comes to purchasing electronics, many brands offer discounts and special deals for students. Research online or ask a sales associate before making a purchase.

Comparison shop for textbooks online: Online textbook retailers often have lower prices than campus bookstores. Take the time to explore all of your options including older editions, eBooks and rental textbooks.

Check out garage sales and thrift stores: Whether you’re in need of dorm supplies like furniture or household essentials, new clothes, backpacks or notebooks and pencils, you can often find like-new items for cheap at garage sales and thrift stores.

We hope everyone enjoys the finals days of summer break and we wish all of our local students and teachers a fun and successful school year!

About First Community Bank and Trust

First Community Bank and Trust is a privately-owned bank. Established in 1916 First Community Bank and Trust has been serving Beecher, IL, Peotone, IL and the surrounding communities for over 100 years. Our commitment to providing the best banking products and services is matched only by our outstanding customer service. We offer traditional community banking services, including mortgage, consumer, and commercial lending, as well as state of the art electronic banking services.

Press Contact:
Bridget Goedke, Marketing Assistant
First Community Bank and Trust
(708) 946-2246