With summer coming to an end, it’s time to start building a budget for sending your kids back to school, including all the necessary supplies they’ll need for the upcoming year.
From purchasing mortgage life insurance to creating an efficient household and back-to-school budget, there are many things you can do to protect your family from financial problems in the future.
Investing in mortgage life insurance can have many benefits, including:
- It ensures your loved ones always have a roof over their head, in case of your unexpected disability or demise.
- Your family can use the funds as they wish, whether it’s to pay off the mortgage or your children’s education fees.
- It gives you peace of mind, knowing your family will always be financially protected
- It’s affordable and requires very little underwriting
Affordable and Flexible Mortgage Life Insurance
At AIME, our aim is to make mortgage life insurance products as accessible, transparent, and simple as possible, so you can choose the best option to suit your family’s unique needs.
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What Is Mortgage Life Insurance
3 Ways To Create an Efficient Back-to-School Budget
Every parent knows that back-to-school shopping is not cheap. The list of supplies is extremely long - your kid will need new clothes, shoes, and possibly some new stationary - and it can become very easy to get carried away.
Fortunately, there are a few ways you can save by creating (and sticking to) a back-to-school budget. Here’s what you need to do:
1. Create a Back-to-School Budget
No two families budgets are ever the same. Before you hit the shops, it’s important to sit down and decide exactly how much you can afford to spend on back-to-school shopping. Is the number less than you’d like? Buy the absolute necessities first and then wait a while before you buy the rest.
EXAMPLE: Distinguish between what your child really needs and what they want. For example, your little one will need new shoes if they’ve outgrown their old ones, but a new backpack can probably wait for a few more months.
2. Make a Priority List
In most cases, your child will receive a list of what they need prior to the beginning of the school year. The first thing you should do is rank the list from what is absolutely necessary to what can be considered extras.
Necessities include:
- Paper
- Pens
- Spiral-bound notebooks
- Folders
- Rulers
- Binders
Extras Include (what classrooms are already equipped with):
- Crayons
- Markers
- Glue
- Pencil sharpeners
Shoes and Clothing
Most likely, your child has clothes that currently fit him/her. If your budget allows, you can buy them one or two new shirts/trousers/skirts, but there is no need to go overboard since children grow quickly.
3. Talk to Your Kids
One of the best things you can do when following a back-to-school budget is getting your kids involved. Instead of telling them ‘no’ and risking a fight or temper tantrum, try to explain how much they’re able to spend on supplies in advance.
TIP: As you go through the store, let your child add up the prices of everything as you shop. This will teach them responsibility and the importance of sticking to a budget.
4 Tips on Saving Money
- If you are able to, wait to buy as many items as possible a few weeks to a month before school starts. Once school begins, shops will significantly reduce the price of their supplies.
- Take inventory of what you have and use the summer holiday to clean out your kid’s closets and desks. You could find a good amount of unused pens and never-worn clothes.
- ALWAYS look out for coupons and online sales before heading out to the store.
- Shop around and try go to as many stores as you can to get the best deals. This works especially well for people on a very tight budget.
Call Today
To find out more about how our mortgage life insurance products can help keep your family financially stable, even during times of turmoil, contact us at 1-866-821-1439 or fill in our online contact form.
