In 2012, over 7.4 billion dollars were spent on clothing and
2.2 million dollars were spent on school supplies during the back-to-school
season - United States Census Bureau. Traditionally, during this time of year,
many stores give tax-free weekend, which makes up the second most highest
shopping day for stores, second to black Friday.
School season is about to begin. This means students and
parents of students from kindergarten through graduate collage are scrambling
for back to school supplies. How can you save money and maybe even earn money
back on the second most seasonally expensive yearly event?
How to Make it Easy on Your Wallet
Back-to-school expenses are tough on wallets, pocket books,
and bank accounts. So, why not put them on cash back credit cards? There are
many methods to saving money and even earning cash back on the tedious school
expenses. Here are how to turn deficits into rewards and earnings.
First – Use a Cash-Back Credit Card
Cash-back credit cards are like shopping coupons from your
credit card company. They instantly give you a credit for making purchases.
These are then paid out in some form at a set time according to your credit
card contract. Some cards give you more, dollar for dollar or by percentage,
during the back-to-school season or at certain participating stores.
Second – Student Credit Lines
Parents of college students should consider obtaining
student credit cards for their money-savvy college students. This, along with
the students taking a course in personal finance, will allow them to start
improving their credit scores. The right student credit card will allow them to
gain cash-back on their tuition, books, and other associated student expenses.
Some companies also offer cards with low interest rates, low monthly payments,
first card student forgiveness, and no annual fees. Student cards may also
offer 5% to 20% cash-back with participating retailers.
Third – Know Were to Shop.
Certain stores give discounts during certain weekends, on
top to the no-tax weekend. While others give certain card owners bigger
discounts on top of their credit cards cash-back bonuses. Maximize your money
by combining coupons, gift certificates, discount weekends, tax-free weekend,
and cash-back credit cards. Start early by signing up for newsletters and ads
from your favorite stores.
One of the cool things about student lines of credit is that
some do not require a co-signer if the applicant is a student. This makes it
even easier for students to make healthy financial and credit building
decisions if they can not find a cosigner with a healthy credit score. These
usually also carry zero enrollment fees, zero annual fees, and cash-back
dividends with regular usage and monthly payments. Consider adding their photo
and signature for for extra security.
With the august back-to-school season upon us, now is the
best time to plan back-to-school shopping with improving yours and your college
students financial outlook and credit scores. Earn rewards while keeping your
already tight home budgets intact. Right now, before the shopping season gets
in full swing, is the best time to find cards with amazing sign-on bonuses of
$25, $100, or more, plus nifty cash-back bonuses at every register. Consider
maximizing your money using these credit building, money earning back-to-school
deals.
