Written when my oldest daughter went off to University (many years ago). Luckily we had RESPs and she had earned a fair amount of pocket money herself. The first time this happens it is quite a shock in terms of money spent.
With my oldest going off to University her back to school needs are a little more diverse than when she was simply returning to middle school or high school. Now she is in need of more things than just the ordinary:
Now her back to school purchases have more diverse things added like:
- Her own computer
- A copy of Microsoft Office
- A printer
- Anti-Virus software
- A power bar
- Bed linens and towels
- A return ticket for Thanksgiving
- Living Expenses
- A desk lamp
- A stapler
- A 3 hole punch
- A year’s supply of the necessities of life
- Laundry Detergent
The life’s necessities is an interesting one, it’s not like Waterloo is like Baffin Island, where they only get supplies once a year, so I am not sure why we are buying so much of this stuff, but we are (and transporting it there too).
More School Spending
Of course we have regular back to school shopping for my other two daughters, and luckily my son has not reached the magic school age, but as I have said before September is a month with many very LARGE outputs of money, in many hidden places:
- Fees for courses and such, at a public school?
- Fees for sports
- Bus passes (this year only two, so I am saving there?!?!?)
- Clothing for back to school
- Basketball shoes and sports paraphenalia
- Field trip fees
- Registration for club sports
How much could all of this cost? Try well over $1000 with the sports fees and such added in!
All of this, as my last pay cheque will arrive on September 30th? Sounds like we are going to need a budget, oh Gail Vaz-Oxlade, where are your mason jars?!!!!!
Have a good weekend all, think I’ll be figuring out how many kidneys I can sell on E-bay…
Other Back to School Thoughts?
- The Business of University Fees talks about how you should look very closely at all the fees you child might pay at school. Many of these fees are refundable, think about doing that.
- Back To School and RESP Time this is when to think about it. If your kids aren’t at University, do they have an RESP?
- High Tech Hand Me Downs & Back to School another area of spending. Are you buying new computers or handing them down?
- Back to School Monetary Nightmare can happen. If you haven’t saved for it September can be a painful month.
- Teach Your Kids to be Frugal at School and in life in general. They need to understand how money works, or they may bankrupt both of you.
- You think you don’t need an RESP ? Maybe check out that page for some hints on how much it can help.