CHARLOTTE, NC (WBTV) – In tonight’s good question we ask you about back-to-school shopping.
The children return to class.
So it’s time to stock up on supplies. But like most things, there are shortages.
It drives up prices.
What costs the most? And what are the tips to help you save money?
These are good questions we asked financial expert Mark Henry.
Jamie Boll: So what kinds of things cost us more?
Marc Henry: All. So inflation is real and all the prices have been inflated and people are seeing it. One of the things I recommend is to always have a discussion of what’s a necessity. Do you know the pants? Only these children grow up. They grow so fast that the pants just don’t fit. OK, that might be a necessity. Hey, we need the new Air Jordans. It’s more of a need. It is not a necessity.
So we really need to see what will fit into the spending plan and do the things that are right for where we are.
Jamie Boll: This is good advice. What else should families be thinking about to save money this year?
Marc Henry: Well, obviously shop for the sale – the back to school sale and keep an eye out on that must-have list.
Like for example, poor teachers, you know it’s hard, they don’t even have the money in a lot of class budgets to provide the necessary things, so they will send this list of things that you can help bring. and we all want to help, and I totally understand that. But again, let’s make sure we don’t charge for those back-to-school items and do things like that where we sink ourselves deeper into a hole and not take care of ourselves. Again, break down the back-to-school list with any gadgets that may be needed.
Lots of electronics as kids get older in college they need electronics and stuff so try to research the sales and make sure they match your spending plan and you don’t not to bill for these items and pay on for the next two or three years.
Jamie Boll: Talk a little more about sticking to that spending plan and how I should view it when it comes to you. Do I have to repay my debts right now in relation to these school supplies? In some cases, as you said, you need it.
Marc Henry: It is a difficult choice. This is where it comes from that element of necessity.
But if we’re going to go and bill for these things and get into more debt, we really have to take a hard look at what’s absolutely necessary or what we can get by with. And a lot of times, some of the electronics we’d like to have aren’t a necessity. These are the most expensive tickets, and they’re really not a necessity, and maybe class supply is something we want to do. We’ll try to do what we can, but again let’s stick to what’s absolutely necessary if we’re going to charge for this stuff to get kids back to school.
Jamie Boll: Fingers crossed to get through this school year. Healthy, safe and learning.
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