The Money Couple Minute - 4 Ways to Survive Back-to-School Spending Plus ABC News

We hate to be the ones to say it, but summer will soon be coming to an end. For those of us with school-aged kids, that means we are staring down a major outlay of money for school supplies, new clothes, activity fees, and other school-related expenses.

On top of the notebooks, shoes, jeans, and backpacks that make up our shopping lists, more and more of us are being asked to support our schools by helping stock classrooms with art materials and cleaning supplies. And those folders and pencils and paper towels can add up to real budget breakers.

According to the National Retail Federation, the average American family will spend more than $600 on clothes, shoes, supplies, and electronics during the 2010 back-to-school season, making this the second biggest consumer "event" of the year (you can probably guess what the first is!).

But unlike Christmas, this time of year often catches people unaware - how many of us plan for back-to-school spending in our annual budgets? Not us! Even if you haven't been saving your pennies for the annual trip to the school-supply aisle, you've still got time to plan for these expenses and make sure you don't end up with a battered budget. These tips can help:

• Decide who will do the school shopping. Clear communication will prevent doubling up on items, or worse-spending more than you need to! Once you decide who will do the shopping, talk through what you expect to spend and make a list of items you need to prevent overbuying. This is particularly helpful if one of you is a Saver and the other is a Spender. The Saver needs to understand that yes, your child really does need a fresh box of crayons and not a bag of broken stubs from under the couch. And the Spender needs to understand that the 24-pack on sale for a quarter will work just as well as the 150-count tower of rainbow colors that costs 20 bucks.



• Involve your kids. We'll be the first to admit that shopping for school supplies with the kids in tow can be less fun than a root canal. But getting the kids to help with the shopping can teach them some valuable lessons. When kids choose their supplies and clothes, they are likely to take better care of them. Shopping with you also teaches them how to spend wisely. Talk them through your decisions-would it be better to buy a pack of 6 small erasers for $2 or a pack of two large erasers for $1? Do they need new tennis shoes for the first day of school or can their current pair get them through the first couple of months? Getting kids involved makes you think through your purchases more carefully - and that can only help your bottom line.



• Start early. You don't have to wait until the last week in August to gather school supplies. Starting early gives you the advantage of spreading the expense out over a few months. And many retailers hold their first big back-to school sales in late July, giving early shoppers a little more bang for their buck.



• Talk about it. We find very few couples who ever talk about back-to-school spending. One person does the shopping and doesn't think twice about it. But when that $600 jump shows up on the credit card bill, there's bound to be some discussion! So avoid the potential conflict this change in your monthly spending can bring and talk about it now, before a single pencil is purchased.

Money Huddle Tip: Take some time during your next Money Huddle to look over your list of school supplies and expenses. Talk together about what you could spend right now, what can wait a month or two, and how you can make up for this bump in your monthly spending.

View ABC News Money Couple Minute - Managing a Blended Family