Smart Shopping: Making the Most of the Back-to-School Season
July has arrived, and while we are all soaking up the Massachusetts summer sun, the "Back-to-School" buzz is already starting to hum. At Common Trust FCU, we know that as much as this season brings excitement for new beginnings, it can also bring a bit of "sticker shock" for families in Woburn, Bedford, and beyond. Whether you’re prepping a local elementary student or sending a young adult off to college, the costs of tech, clothes, and supplies add up fast. That’s why we’ve rounded up some savvy financial tips to help you ace your shopping list without breaking the bank.
Master Your School Year Budget
Planning is the best way to keep your finances on track. Instead of diving into the aisles headfirst, try these strategies to stretch your dollar further:
Audit Before You Buy: Before heading out, "shop" your own home. Check last year’s backpacks, half-used notebooks, and those hidden stashes of pens. You might be surprised at how much you already have!
Circle the Sales Tax Holiday: Keep a close eye on the calendar for the Massachusetts Sales Tax Holiday. While dates are finalized by the legislature each summer, it traditionally falls in mid-August. This is the perfect time to purchase larger items like laptops or dorm furniture (up to $2,500) without the extra 6.25% tax.
Prioritize the Essentials: Use the "Needs vs. Wants" rule. Buy the required classroom list items now and wait until late September for "want" items like trendy sneakers or non-essential tech, when clearance sales often hit.
Leverage CTFCU Tools: Use our mobile app to set up a dedicated "Back-to-School" savings goal or use your CTFCU credit card for secure purchases and to keep all your school-related expenses in one easy-to-track place.
At Common Trust FCU, our mission is to be the familiar face that guides you toward financial stability through every season of life. Whether you need a low-rate personal loan to bridge the gap or want to open a first savings account for your student, we are here to help. Stop by one of our branches this month to chat with our friendly team about your goals. Let's make this school year your most successful—and affordable—one yet!