Getting a child ready to go back to school usually takes about 6-1/2 hours of shopping and costs between $163 and $408 per child. Consumer Credit Counseling Service suggests that back-to-school shopping a good time to teach kids about budgeting.
Work with children to establish a budget. Teach comparison shopping by reading ads to compare prices and going to different stores.
For middle schoolers, consider using 25 or 50 one-dollar bills to buy school items. The stack looks large at first, but can be a powerful demonstration that you can "stretch a dollar only so far."
Sources: Consumer Credit Counseling Service and Frenchtoast.com
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