While middle and higher-income parents are planning to spend 7% and 9% less respectively, lower-income parents plan to spend 10% more. In fact, according to PwC, 73% of shoppers expect to spend the same or more than last year, and 1 in 3 plan to spend more.
Between books, supplies and even electronics, back-to-school shopping can be an expensive process, especially when all of these purchases happen at once. More parents and students alike are embracing Buy Now Pay Later (“BNPL”), which lets you pay in multiple installments rather than one large upfront payment.
With built-in budgeting and comparison tools that help facilitate the process even more, Sezzle is emerging as a new favorite among BNPLs for back-to-school shopping this year.
Is back-to-school shopping still a thing?
Yes. The landscape of back-to-school shopping has evolved significantly over the past two decades, but it remains a major economic force and family tradition.
With $38.8 billion in total back-to-school spending for 2024, families are spending an average of $874.68 for K-12 students and over $1,364 for college students.
While big box stores like Walmart and Target once dominated the space, the rise of online retailers like Amazon has fundamentally changed how families approach their shopping. You now have access to a much broader selection of products, competitive pricing and the convenience of shopping from home.
However, inflation, rising costs and a shift toward value-based decision-making are pushing shoppers to seek smarter ways to pay.
Big box stores still capture a significant portion of back-to-school spending. Yet online availability combined with BNPL options help make the process more convenient and budget-friendly for families looking to spread costs over time.
How to save on back-to-school shopping
Just a few, simple shopping strategies can help keep costs under control and the process as stress-free as possible.
Finding the right combination of these tips and strategies helps you get everything your child needs without breaking the bank.
Here are five practical shopping tips to help get the most out of your back-to-school budget:
Make a shopping list
Set a budget
Shop early
Compare prices
Take advantage of discounts and sales
1. Make a shopping list
Creating a comprehensive shopping list is your first line of defense against overspending and forgetting essential items.
Whether you use a Google Sheet, handwritten list, Amazon List or Sezzle Wishlist, having a centralized list helps you get the full picture of what’s needed while keeping track of what’s been purchased and what’s left to do.
Choose a format
Opt for something that:
Works for your family
Is shareable so others in your household can view and contribute to it
Organize by purchase location
Consider creating separate lists or using tags for items you’ll buy in-store versus online, as this can help you plan more efficient shopping trips.
For online items, Wishlists are particularly helpful because they track items and any changes in prices, making it easy to come back to them later when you’re ready to purchase.
To create a Wishlist in the Sezzle app, you just:
Browse products
Tap the heart icon to save items for later
Organize your saved items into different categories and receive notifications about price changes
Once you have the full picture of what you’ll need to purchase, you can better create a realistic budget.
2. Set a budget
Setting a budget is the first step to responsible spending. Setting a realistic back-to-school budget starts with understanding:
Your financial constraints
Typical spending patterns for similar families
Available budgeting tools and resources
Financial Constraints
Start by reviewing your finances to determine how much you can comfortably put toward back-to-school shopping without straining other essential expenses.
When creating your budget, factor in all categories like:
Clothing
Supplies
Electronics
Any special requirements your child’s school might have
How much do people spend on back-to-school shopping?
The general trend in the U.S. is an average of about $875 per child, though families typically spend varying amounts based on their children’s age ranges.
Elementary school families generally spend less on basic supplies like crayons, notebooks and backpacks
High school families face higher costs due to more sophisticated supplies, technology requirements and clothing needs
College-bound students represent the highest spending category, often requiring everything from dorm room essentials to laptops and textbooks
Budgeting tools
Being able to spread larger purchases across several weeks can influence how you think of your back-to-school shopping budget.
Understanding general price ranges and comparing options can also help clarify how much you’ll need.
BNPLs typically allow for more time to pay for purchases, making it easier to manage cash flow while still getting everything your child needs. However, while BNPL can help give parents more time to pay for purchases, they haven’t traditionally helped them save time and money by finding the best deals.
Sezzle’s hoping to change that this back-to-school-shopping season with several key tools in addition to the Pay-in-4 option they’re known for.
Price comparison and marketplace tools: compare prices across retailers, find the best deals, and shop thousands of brands and millions of products all in one convenient location
Built-in budgeting tools: reminders, financial education resources and a streak-based reward system help keep you on track and financially mindful throughout the shopping process
The app’s transparent approach also provides a clear, upfront view of what’s due and when, making it perfect for families managing tight school-year budgets.
3. Shop early
Avoid waiting until the last minute, especially for staple items and trendier articles that tend to sell out quickly.
Early shopping gives you:
Time to research products, read reviews and make thoughtful decisions rather than rushing through purchases as the school year approaches
Better selection
Potentially lower prices
Less stress as other families begin their last-minute shopping rushes
Many retailers, particularly online ones, offer summer sales in July such as Amazon’s Prime Day, which can provide significant savings on back-to-school essentials.
While Sezzle isn’t directly integrated with Amazon, you can still take advantage of these sales by using a Sezzle virtual card. This allows you to access Amazon’s competitive pricing while still benefiting from Sezzle’s flexible payment options.
You can also use the app to find (cheaper) options you might not be aware of or considered otherwise. AI-powered personalized recommendations tailored to your interest create a smarter shopping experience.
Shopping with a BNPL option also gives you the opportunity to buy in bulk by starting earlier. You’ll have more of a selection to choose from and more time to pay for purchases.
4. Compare prices
Price comparison can feel overwhelming, but you don’t have to do all the work yourself.
Many blogs and comparison websites help cut down on research time by comparing products and prices across multiple retailers for you. User reviews and forums like Reddit contain a wealth of information that might not be in the marketing.
Even though online listicles can help speed things up, this step is often the easiest to skip. Spending what might add up to hours researching products and hunting for the best deals seems like trading a ton of time to save a lot less money.
Another reason Sezzle is emerging as a back-to-school shopping favorite is its price comparison and marketplace tools. You can compare prices across retailers, find the best deals and shop thousands of brands with millions of products all in one place.
Combined with the app’s Instant Price Drop alerts feature, which notifies you when items on your wishlist decrease in price, the BNPL’s comprehensive approach empowers shoppers by eliminating the need to juggle multiple apps and websites while ensuring you never miss a good deal.
The app’s “one-stop-shop” feel means you can discover new products, compare prices and complete purchases seamlessly while taking advantage of Sezzle’s flexible payment options. This combination of convenience and financial flexibility makes it easier to stick to your budget while still getting quality items for your child.
5. Take advantage of discounts and sales
Never be afraid to ask retailers if they offer discounts for school-related purchases.
Many stores have special promotions for educators or bulk purchases that aren’t always prominently advertised.
Take advantage of coupons and tools that can find them for you automatically. Sezzle’s auto-couponing feature applies available discount codes at checkout, ensuring you don’t miss out on savings simply because you forgot to look for coupon codes.
Keep an eye on seasonal sales throughout the summer and early fall.
Use tools that alert you to price drops. This feature in Sezzle is particularly valuable for bigger-ticket items like electronics or designer clothing that you can afford to wait for if the price isn’t immediately doable.
Getting the most out of school supply budgets
In the way that online retailers changed where we back-to-school shop, BNPLs are changing how we’re shopping.
BNPLs can help you spread large purchases over time, easing the burden of big seasonal spending. Sezzle takes this empowerment a step further with budgeting tools and resources like the ability to create Wishlists to track items, receive price drop alerts, compare products, set reminders.
By combining smart shopping strategies with flexible payment options, you can ensure your child has everything they need for a successful school year while shopping responsibly and maintaining control over your family’s finances.
Published Originally on — https://www.msn.com/en-us/money/other/how-sezzle-empowers-budget-conscious-back-to-school-shoppers/ar-AA1KgCTX
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