Other expenses such as enrollment and tuition, as well as IPTU and IPVA pose a challenge at the beginning of the year
Summary
Research reveals the financial impact of spending on school supplies and provides recommendations for overcoming the challenge.
A survey conducted by the Locomotiva Institute and QuestionPro shows that spending on books and school supplies accounts for 85% of the budget of families with school-age children. Annual back-to-school consumption has increased by 43.7% over the last four years and currently amounts to approximately R$49.3 billion.
Another study conducted by Procon also showed that prices of school supplies can vary greatly in stationery stores. The price of a 30-centimeter ruler, for example, can vary by up to 269%, with prices ranging from R$1.60 to R$5.90.
In fact, spending represents one of the main financial challenges at the beginning of the year. These costs, as well as coinciding with other major expenses, such as IPTU and IPVA, require planning so that families do not fall into debt. For financial planner Jeff Patzlaff, organization and well-defined strategies are essential during this period.
Jeff points out that the first step is to review your school supplies list and identify what actually needs to be purchased. “Reusing items from previous years, such as partially used backpacks, pencil cases and notebooks, makes a significant difference to the budget,” she says. Furthermore, it is essential to research prices in different stores, both physical and online. “Today we have tools and price comparators that help a lot. And, in many cases, some of the school supplies can be purchased later, when the price is more convenient,” he explains.
An effective alternative suggested by the specialist is the organization of collective purchases between parents, which can reduce costs through negotiations or bulk purchases. It also warns about products with famous brands or children’s characters, which are generally more expensive.
“Avoid products from famous brands or with characters, which have higher prices, favoring quality items that can often be used the following year, when this year’s fashion has passed,” he advises.
It’s also worth taking advantage of using cashback or direct negotiation tools for discounts, especially on larger purchases or cash payments.
Another recommendation is to include children in the purchasing process, but always establish clear limits. “Young children need to understand from an early age that money is not infinite and that smart choices are important. It’s an opportunity to teach financial education, but parents must be prepared to deal with impulsive requests for out-of-print or trendy items,” Jeff emphasizes.
Regarding the payment method, the specialist explains that the decision between paying in full or in installments depends on the economic conditions of the family. «Paying in cash is advantageous when there are significant discounts and if the family already has money saved without compromising their finances. Paying in cash avoids the accumulation of installments and guarantees greater financial predictability,” he says.
However, he points out, paying in installments can be a good option if it is interest-free and if the available money can be invested for a profit. “Before deciding, it is essential to compare the overall value of the installments with the cash price. And remember: the cash discount must be at least 1% for each possible installment. For example, in a payment in 10 installments the discount should be at least 10%”.
Additionally, Jeff emphasizes that financial planning must be ongoing, covering other education-related expenses, such as tuition, registration fees, uniforms and materials. He recommends creating an exclusive fund for these expenses, calculating the expected total and setting aside a monthly amount. “Many parents use the 13th or 13th year to cover expenses at the beginning of the year, but this alone is not enough. For next year, think about buying in advance, taking advantage of promotions such as Black Friday, which can offer lower prices,” he says.
Jeff stresses that it is important to also include tuition as a fixed expense in the family budget, making sure it is paid on time to avoid interest or fines. The expert also suggests that parents negotiate with schools to obtain discounts, both for advance payments and for families with more than one child enrolled. Finally, it highlights the importance of teaching children to take care of school supplies, avoiding waste and frequent replacements.
“With organisation, discipline and adequate strategies it is possible to face school expenses with more serenity, without compromising the stability of the family budget”, he concludes.
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Source: Terra
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