Ina Poecher heard about a back-to-school sale at J.C. Penney on the radio. So with a mental list of wardrobe needs for fifth grade, the Vadnais Heights 10-year-old spent a recent Saturday morning with her head in the clearance racks.
In the past, her picks would have been paid for with her mom's credit card. Not this year. "With the economy being as bad as it is, we started a budget program. And we try to be within our means for the first time," Ina's mother, Kirsten, explained.
That meant first stopping at the bank to withdraw $60. The shift is OK with Ina.
"It's just showing me that you should actually watch your budget or you're just going to go overboard and like get all the expensive clothes and not watch for sales," she said, grasping a bag bursting with deeply discounted tanks, T-shirts and shorts.
The back-to-school shopping season is second only to the holidays in terms of consumer spending. The average family will spend about $600 on school clothes, supplies and electronics this year, according to the National Retail Federation.
This presents a perfect opportunity for parents to teach kids about comparison shopping, assessing wants and needs and stretching a dollar.
Molly Snyder of St. Paul, who writes a blog at www.theSnyder5.com after her three sons are in bed, uses back to school as a chance to teach the older ones, ages 7 and 8, "that you can't have everything be the best all the time. ... If you want the $15 lunch bag, we're just going to get the plain notebook." As for clothes? Her sons don't care too much -- yet. So she's able to buy off-season, on sale and a size bigger without consulting them. Six out of 10 parents who answered the retail federation's survey said their kids influence at least half of their back-to-school purchases.
When shopping at the Albertville outlet mall last week, Tony Gleason's 7-year-old fell in love with a pair of Tony Hawk skateboard shoes. But the MassMutual financial adviser stuck to his guns and left without the showy sneakers. "We explained that those are trends and we have to buy what we need." They settled upon a couple of pairs that were on sale because they were last year's style. Many parents rely on the "if you really want it, then buy it yourself" philosophy, especially as kids get older and allowances increase or part-time jobs enter the picture.
When New Prague High School senior Rebecca Enrooth is eyeing a particular name brand, such as Miss Me jeans or Banana Republic blouses, she'll splurge on those items and make up the cost by purchasing basics on the cheap. The teen, who is on the Mall of America's Trend Board, buys her back-to-school clothes with a mix of money from her parents, earnings from waiting tables and money she makes selling her unwanted clothes at Bargain Betty's Consignment Shop in her hometown.
Enrooth's money-stretching tips: Buy basics in solid colors because they're easy to mix, match and jazz up. "You can always buy a cute pair of earrings to go with a simple black shirt."
Repurpose what you have. She's planning to wear her sundresses throughout the fall by adding tights and a cardigan sweater and may buy a few more on sale because "I can wear them next summer."
Never finish shopping before the first school bell. "I definitely wait to see what goes on sale and what I really like," she said.
And her favorite way to expand her wardrobe without spending a cent? Swapping clothes with friends.
Darcie Gust's son and daughter aren't in school yet, but you'll still find the Burnsville mom, who also blogs about her family at www.gustgab.com, loading up on crayons and notebooks for various school supply drives. "This time of year offers a great chance to teach our kids about helping others who might not have as much as we do." She stocks up on Crayolas for her family too. "[Back-to-school] also offers a chance to show them how waiting for certain times of the year to acquire new things helps us to afford more, versus just buying what you want when you want because you want."
How do you use back-to-school spending to teach your kids about money? Tell Kara McGuire at 612-673-7293 or kmcguire@star tribune.com.
