Back-to-School Shopping Without Breaking the Bank

Let's face it: School shopping is expensive. This year, parents in the U.S. are expected to spend an average of $875 on elementary through high school age students, according to the National Retail Federation.

However, with a little advance planning and some tried and true savings strategies in your back pocket, back-to-school shopping doesn't have to break the bank.

Shop tax-free

A good time to shop is during Maryland's tax-free week, held annually starting the second Sunday in August through the following Saturday. This year's Shop Maryland Tax-Free Week is August 10-16.

What's included:

• Clothing and footwear: Most clothing and footwear items priced at $100 or less per item are exempt from Maryland's 6% sales tax.
• Backpacks and bookbags: The first $40 of the purchase price of a backpack or bookbag is also exempt from the sales tax.

What's not included:

• Accessories: Items like jewelry, handbags, watches, ties, scarves, and hair accessories.
• Specialized clothing or footwear: Items designed for sports or protection (think cleats, helmets, protective pads, steel-toe boots).
• School supplies: Unlike some other states, Maryland's tax-free week doesn't include school supplies like notebooks, pens, and rulers.

Live outside of Maryland? Click here to find the tax-free week for your state.

Set a budget and stick to it

Create a realistic budget and stick to it. Start with a list of essentials and set a target amount for each category. This will help you avoid impulse buys and stay within your financial limits. Involve older kids in the budgeting process to help teach them the difference between needs and wants, and the value of money.

Start with your leftovers

Before you head to the store, first check to see what school supplies you already have from last school year. See what you can cross off your shopping list, like pencils, highlighters, scissors, and glue sticks.

Next, go through your kids' closets. What still fits and what have they outgrown? The leggings from last year may not fit anymore, but that slightly oversized jacket may have another year left in it. If your child wears a uniform, many retailers like Lands' End, Old Navy, and Target offer school uniform pants, polos, skirts, and shorts, at a lower cost.

Check dollar stores

You'd be amazed how many items you can cross off your list and for super cheap at your local dollar stores, or discount stores like Five Below and Ollie's. You'll find most of the basics—pencils, markers, composition books—are cheaper than you'd find at retail stores like Target, leaving more money in your budget to spend on higher-end items like calculators and binders.

Hit the pavement

Summer is the season for yard sales, and you can find a lot of good gently used items for a fraction of the retail cost. Be sure to get an early start; the yard sale selection will be picked over if you arrive too late. You can also find good deals on gently used—and even some new with tags—clothing, backpacks, purses, and accessories at local thrift stores and consignment shops.

The almighty coupon

Starting this month, look for back-to-school coupons, deals, and sales both in stores and online. Be sure to compare prices for the best deals. A price comparison website or app will automatically compare prices across different retailers to find the best deal. And remember to ask if the store will price match. It may save you money and time rather than driving around to different stores to get the lowest price.

Buy in bulk

For items you'll need to buy a lot of, or replace frequently, like notebooks, paper, and pens, buying in bulk can be cost-effective. You'll generally find discounts on bulk purchases at warehouse stores like Costco or BJ's and office supply stores.

Set limits

As your kids grow older, they may no longer be satisfied with the plain folders at the dollar store and want the trendier—and more expensive—Taylor Swift ones instead. However, buying celebrity or special character products can quickly wreck your back-to-school budget. Set limits with your kids before you shop. Perhaps allow them to have one or two character items, like a Swifty backpack or lunch bag, and keep the rest generic.

Take advantage of cash back and rewards

For larger purchases like laptops or tablets, you may want to use a credit card that offers you cash back or rewards on purchases. Also take advantage of store reward programs so you can earn points you can use later.

Think ahead

Finally, it's never too early to start planning for next year. Setting up a dedicated club savings account for school-related expenses allows you to save a little at a time throughout the year, making this season less stressful for your budget.

And help your child open his or her own savings account, so they can start putting money away for those new Air Jordans now.