EIGHT EXPENSES TO INCLUDE IN YOUR AUGUST BUDGET

It’s that time of the month again; time to get a new monthly budget ready! Here are a few potential expenses you may want to include in your August budget. PSA: August is just a couple of days away, so you’ll want to get on this quickly!

EXPENSES TO INCLUDE IN YOUR BACK TO SCHOOL AUGUST BUDGET

BACK TO SCHOOL

There are a lot of kids going back to school or virtual school this year and with the school year comes new expenses to consider.

FOR ONSITE LEARNERS:

• Hand sanitizer: For older students, it’s a good idea to keep a trial-size bottle in each backpack.
• Supplies or Supply Fees: Lucky for us, in our district, elementary schools charge $50 supply fee at the beginning of the year, and we’re done! The district buys supplies in bulk, everyone saves money, and all the kids have the same supplies. The older the kid gets, the more expensive/high-tech supplies usually are, so budget accordingly! We have a junior higher in our house this year, so this was our first year to purchase school supplies. Thankfully, we had quite a few items on the list at home.
• Backpacks and Lunch Bags: If your child is just starting kindergarten or has outgrown their backpack from last year, you’ll want to include money in the budget for a new one. We get about three years of use out of each backpack; buy one of decent quality and save some money in the long run. The same goes for the lunch boxes and water bottles; I see no point in buying new ones every single year when what they have is still in good condition and the right size. See what we got in previous years in Back to School on a Dime. After losing a few water bottles, I’ve developed a habit of checking the options at thrift stores; it hurts less if it gets lost after a few weeks when you only spent $2.99.
• Sports & Activity Fees: Will your kids be involved in sports or other extracurricular activities/clubs? Maybe band or choir? Between equipment, physicals, instruments, or even just t-shirts, there are bound to be fees involved. We have a student in band this year.
• After-School Care: If you work full-time, you may need to budget for after-school care.
• Clothing: Kids do this thing where they grow… all the time. And if yours are like mine, they tend to wear things completely out before outgrowing them. We try second-hand shops first for clothing. And I try to have what I need before tax free weekend; I choose to avoid the larger crowds and limited selection.
• Increased Food Costs: Sometimes it feels like prices increase between every weekly grocery run. With school lunches to pack next month, chances are they’ll want a little variety day to day. They likely won’t be eating the same as they do at home in the summer. Check out these 25 Frugal and Dairy Free Lunch Ideas! Even if your kids eat tray lunches, you still need to pay in advance if you’re not on the free lunch program.

VIRTUAL & AT HOME LEARNERS

If your children are learning via virtual or homeschool this fall, you may think you’re getting off the hook in your back-to-school August budget since they don’t need a whole new wardrobe or those trendy new shoes, but there are some expenses to consider.

• Supplies: Just because they’re not on-site doesn’t mean that they won’t need pencils, paper, glue, and all the other typical school supplies.
• Dedicated space: Make it easier on yourself and your student(s) by creating a dedicated space for school work and keeping all supplies there. You can accomplish this fairly inexpensively.
• Proper Equipment: If you do not have a computer or laptop available for your child to use, check with your school district; I know our local school district has acquired additional Chromebooks to help students who will be virtual learners. And save yourself the headache and get your kid(s) headphones.
• Other Fees: If virtual learning is not through your local school district, there may be additional fees or expenses involved. Research this carefully, and budget accordingly.
• Extracurricular Activities or Sports: Children enrolled in virtual learning in our district still have the same access to sports and activities as on-site learners. If your child plans to participate, you need to include it in your back-to-school budget.

Have any traditions been incorporated with back-to-school? Be sure to include them in your budget! Even though things look different this year, we still plan to follow our first-day-of-school tradition as closely as possible.

My husband takes off work, and we will drop both kiddos off on their first day of school. We usually go out for lunch, so it goes into the budget as well!

OTHER EXPENSES TO INCLUDE IN YOUR AUGUST BUDGET

In addition to back-to-school expenses, August has other unique expenses to consider. Here are a few below:

• Increased Energy Costs: It’s hot! Make sure you have money in the budget to keep your AC in working order and accommodate the rising utility bills. Turn up the thermostat on the air conditioner, and pay attention to “peak hours” with your utilities. It will help with demand as well as offset the increasing prices at least a little. Our family has solar, so we pay the minimum co-op fees every month, but we still try to conserve energy as much as possible.
• Increased Water Usage: If you have a summer garden or try to keep the grass alive, you need to budget the additional expense incurred to keep it watered.
• Tax-Free Shopping Weekends: Several states have these in early August. If you plan to enjoy the tax savings, you’d better include it in the August budget. But be aware that you may find you have have a limited selection. And larger crowds This is why I don’t wait; I’ll happily pay the sales tax if it means I get what we need on the first trip.
• Tech: August is a great month to buy laptops with back-to-school sales. If you’ve waited to buy one, it’s a good month to do so, if it fits in your budget. Account for any needed software subscriptions as well!
• Patio Furniture: Outdoor furniture/decor items usually get discounted in August ahead of the cooler weather. I’m still holding out hope to find the perfect (for us) set second hand.
• Savings Goals: It’s always a good month to beef up the emergency fund! If you’ve followed a Life on a Dime’s most recent life update, you may have noticed we now have a garage pad.
• Haircuts: It might be a good idea to include one in the August budget.

Every budget and every school district is different, so please be sure to adjust your personal budget accordingly! What special expenses do you have coming up in August? Have any fun back-to-school traditions you’d like to share?

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