Back to School Shopping Without Breaking the Bank: MMI Offers Tips on Sticking to...

Back to School Shopping Without Breaking the Bank: MMI Offers Tips on Sticking to a Budget and Teaching Children Financial Responsibility

HOUSTON--(Business Wire)--
With the start of the new school year quickly approaching, many
parents are beginning to feel the pressures only back-to-school
shopping expenses can bring. According to a recent study by the
Marketing to Moms Coalition, back-to-school spending per household
will average $484 in 2008, up from $449 last year, with specific
increases in the clothing, electronics and school supply prices.

With many family budgets already stretched due to rising food and
gas prices, approaching back-to-school spending with a solid plan
makes more "cents" than ever. Start by taking a thorough inventory of
what you already have (and what can be reused from last year) and then
develop a budget for what you still need. Then, list each item in
order of importance, starting with the necessities. After ranking your
supplies by priority, trim the non-necessities and luxuries from the
bottom of the list in order to stay within your budget. Don't forget
often-overlooked expenses such as yearbooks, extra-curricular
activities and uniforms, science projects and immunizations.

The experts at Money Management International (MMI) encourage
consumers to consider the following important tips when back-to-school
shopping:

-- Determine clothing needs vs. wants. Many kids feel pressure to
wear certain brands and the latest fashion trends, which are
often not in the budget. Set a clothing budget and inform your
child of his/her limits before entering a store--they may
realize that it's better to have more options than the latest
fads. Keep in mind that what you buy is just as important as
how you buy it. Basic, durable clothing will stretch your
dollars significantly and never go out of style. Also,
remember that you don't have to purchase a year's worth of
clothing at one time.

-- Save on school supplies. Shopping in the "back-to-school"
section at an expensive retailer may be convenient, but
shopping at outlet and office supply stores could save you
money. The Marketing to Moms Coalition found that 20 percent
of surveyed parents claimed their child's school offered
students the option to buy supplies directly from the school.

-- Involve your children. While back to school shopping can be
painful financially, it offers an opportunity for parents to
teach kids a valuable lesson about budgeting, credit and the
difference between wants and needs. An MMI survey revealed
that the majority (57 percent) of parents say their children
share the responsibility for selecting back-to-school supplies
and clothing. To make the most of the experience, sit down
with your children and create a budget. Teach them to
comparison-shop and point out that if they get the expensive
jeans, they will have to cut back in other areas. Not only
will they learn about smart shopping, they will value what you
buy for them much more.

"Remember, the most important strategy for back-to-school shopping
is to set a budget and stick to it," said Cate Williams, vice
president of financial literacy for MMI. "With proper planning, you
can prepare your children for another school year without breaking the
bank."

About Money Management International

Money Management International (MMI) is a nonprofit, full-service
credit-counseling agency, providing confidential financial
guidance, financial education, counseling and debt management
assistance to consumers since 1958. MMI helps consumers trim their
expenses, develop a spending plan and repay debts. Counseling is
available by appointment in branch offices and 24/7 by telephone and
Internet. Services are available in English or Spanish. To learn more,
call 800-762-2271 or visit www.MoneyManagement.org.

Pierpont Communications, Houston
Jordan Gibennus, 713-627-2223 ext. 1153
jgibennus@piercom.com

Copyright Business Wire 2008