Navigating the financial maze of back-to-school expenses can be daunting for any family. Whether your child is just starting grade school or heading off to college, proper planning and budgeting are key to ensuring a smooth educational journey without financial strain. At Reeder CPA Group, we believe in empowering families with the knowledge and tools they need to make informed financial decisions during these pivotal times.

For Families with Grade School Children:

Early Budgeting:

Start by visualizing the entire school year, not just the typical back-to-school expenses. Will there be special projects? Is there usually a winter concert that requires a costume? Predicting expenditures such as field trips, fundraisers, and school events can prevent surprise expenses later on.

Take Advantage of Tax-Free Holidays & Sales:

Shop during tax-free weekends and keep an eye out for retailer discounts, combining store sales with manufacturer’s coupons. Online retailers may also provide back-to-school sales.

Quality Over Quantity:

Try to strike a balance between quality and quantity when budgeting for certain items. Consider whether investing in higher quality shoes, for example, will save more in the long-term than needing to buy more frequent cheaper replacements throughout the year.

Second-hand or Swaps:

Explore community swaps or thrift stores for supplies and clothing.

After-school Care:

Research available programs early. Some might offer sibling discounts or reduced rates for booking multiple days.

Extracurricular Activities:

Prepare for costs like fees, equipment, uniforms, and travel for sports, music lessons, and clubs.

Technology & Health Needs:

Budget for technology like tablets, as well as physicals, required vaccinations, and other medical needs.


Account for costs of driving, carpooling, or public transportation.

For Families with College-Aged Students:

Comprehensive Budgeting:

Factor in all anticipated costs, from tuition and books to housing and food.

Tax Breaks & Scholarships:

Explore opportunities to utilize tax credits like the American Opportunity Tax Credit (AOTC) and Lifetime Learning Credit (LLC), which can provide up to $2,500 and $2,000 respectively in tax savings for eligible education expenses. Don’t overlook the ongoing chance to apply for both merit and need-based scholarships throughout college. Engaging with the financial aid office and maintaining an organized approach to application deadlines can lead to substantial assistance in offsetting college costs.

Cost-effective Textbooks:

When appropriate, opt for used, rental, or digital versions of textbooks, comparing prices on various platforms. However, if your child skips the official campus bookstore in favor of another retailer, encourage them to double-check that the edition they’re buying is the correct one. This can help avoid unnecessary returns and repurchases. Also, consider splurging for newer textbooks if they are related to your child’s major and may need to be referenced throughout their college career.

Student Discounts:

Students often enjoy a wide array of discounts on technology, software, entertainment, news, and dining. Encourage your child to make the most of these discounts. Often they will just need a valid college email address and/or a school ID.

Meal Plans & Food:

If your child is just heading to college, it can sometimes be difficult to select the appropriate meal plan for on-campus living. Once your child establishes their daily rhythm, work with them to adjust their meal plan in a way that best reflects their schedule and overall budget.

Credit Card Responsibility:

Sending your kid to college also gives them an opportunity to begin building credit. Consider whether an introductory credit card would be beneficial for certain expenses or in the event of emergencies. Just be sure to work with your child to help ensure any credit card balance is managed effectively. Starting with a low credit limit can help mitigate the risk of spiraling debt.

Off-Campus Housing, Transportation, & Utilities:

If your child moves off-campus, expenses can start adding up. Encourage them to list any and all possible recurring expenses, such as added transportation costs, utilities, furnishings, security deposits, parking permits, food, etc.

Health & Professional Development:

Weigh options for health insurance and budget for medical expenses, internships, networking events, and industry conferences.

Recreation & Social Activities:

When budgeting for college, set realistic expectations with your child concerning recreation and social activities. A budget that only considers the necessities may show strain as soon as your child begins attending coffee study groups or joining social clubs.

Emergency Funds:

Life can be unpredictable, especially when you have college-aged children! If possible, always have a savings cushion for unexpected events or expenses.


In conclusion, while education is undeniably a significant investment, proactive financial planning can alleviate much of the associated stress. We encourage families to review these guidelines and tailor them to their unique circumstances. At Reeder CPA Group, we’re more than just tax and accounting professionals; we are your partners in ensuring a bright educational future for your loved ones without breaking the bank.

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