How much would you pay for a backpack? $20, $30, $50? A shopping cart of school supplies could cost upwards of $160. Now, what about school clothes? Even at a discount store, such as Kohl's, your grand total will be over $500. Remember too, that kids outgrow their clothes in about six months, so you will have to buy more.
In our economy, does this come as a surprise? Well, it shouldn't. The National Retail Federation predicted as such, retail sales are 14 percent higher than last back-to-school season. This percentage amounts to about $688 per family.
Spending $500 on school clothes and school supplies seem rather reasonable but kids also need computers, laptops and electronic tablets. Hopefully, you can find a deal for your electronic needs. You should figure at least $1000 for a decent computer and all the accessories for your child. Then, you may want a new computer too. So figure at least $500 more. Now, what about textbooks for your college bound student. Textbooks are about $100 or more a piece, and students have at least 4 classes requiring 2 books each.
Back to school sales are relevant to Christmas sales and the season is just as busy. Retailers such as J.C. Penney's, Abercrombie and Finch, and Walmart all vie for shoppers by offering deals, specials and sales. Even Radio shack is offering 10% to students on power strips and calculators, Staples offers a 15% discount on school supplies.
A minor warning, shopping online for school supplies could cost you 27% more than shopping in the stores. That's about $874.It's time to be more aware of where, why and how you shop. Beware the online shopping and the Gift card shopping. Consider this; baby boomers of the 50's now have children between the ages of 6 and 17. Baby boomers are a large part of these seasons' back-to school spenders.
With our small paychecks and higher prices, we all need extra cash. Should we use a cash advance for back-to- school supplies and clothes? This is a reasonable consideration. Back-to-school supplies only happen once a year and they are necessary. You can discuss this with your payday lender. A payday loan is short term and typically used for emergencies. The loans are usually from $50 to $1000 and the repayment is due by the next pay period. There are fewer requirements involved in obtaining a payday loan than for a traditional loan. There is no credit check and the borrower need only be 18 years of age with a job and an active bank account. The borrower needs to find a payday lender to obtain a payday loan. Payday lenders can be found in-store and online.
A payday lender should be licensed and debit insured. The payday lender is required to disclose all interests, fees and APRs before the loan documents are signed. Also, there should be a pre-arranged date set as to when the repayment is due. This due date is usually by the next pay period.
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