It is estimated that from kindergarten to 12th grade, parents of public-school children can expect to spend roughly $162,000 on education related activities (source). For those with children in private schools, that amount is almost double.
From after-school activities and supplies to technology and equipment such as musical instruments, the costs add up. Navigating these costs can be a headache and many schools are using tech tools to help parents manage them.
Aside from using the platforms your student’s school provides, below are some additional tips to help you manage these costs for many years to come.
- Create a Budget: The first step is to create a comprehensive budget. List all expected expenses for school-related activities and events, such as school supplies, uniforms, activity fees, and sports equipment. Don’t forget to add a little padding for any unexpected costs that may arise. Having a clear budget gives you a roadmap for your expenses.
- Digital Platforms: Embrace the convenience of digital tools if your school offers them. These tools often allow you to view and pay for school-related expenses online or through an app. You don’t have to worry about sending cash with your student and can make payments from the comfort of your home with the added benefit of easy record-keeping.
- Set Up Auto Pay or Monthly Payments: Especially for ongoing or larger expenses, many schools offer auto pay or monthly payment options. Taking advantage of these features ensures you never miss a payment, helps you maintain financial consistency, and gives you the opportunity to pay larger expenses incrementally instead of all at once. Setting up auto pay with a system like LINQ Connect, is an easy way to set and forget payments.
- Stay Connected: Follow your school districts’ social media pages to ensure you are aware of upcoming events. This can help you plan ahead and be aware of potential upcoming costs. You can also read the minutes of board meetings to understand new technologies or programs they may be implementing and any potential costs that could be related.
- Stay Organized: If possible, manage all of your expenses with the same tool, such as LINQ Connect. This will help you track expenses and pull a comprehensive report of dollars spent. If your school uses different tools, invest in a budgeting app that allows you to track spending by category or student. This will help you easily locate receipts, invoices, and important information when needed.
- Get Involved in Fundraising: Many schools organize fundraisers to support various activities and projects for their students. Encourage your children to get involved in these events to help reduce the costs. When they ask family and friends to participate, help them create a story around why they are asking for donations and make sure they write thank you notes to everyone who helped.
- Make it a Teaching Opportunity: As your child grows, it’s essential to teach them about financial responsibility. Include them in discussions about budgets and expenses when it comes to their activities. Show them how to save and budget for the big purchases they want to make and help them track their own spending. This valuable life skill will benefit them in the long run and encourages them to appreciate the activity more if they are working towards it.
Although the costs will likely continue to increase as school funding is always going to be a challenge, having the right tools can lessen the burden. Creating a budget, embracing digital options, leveraging automatic payments, and being wise about expenses can make the journey more enjoyable for you and your child.