SAN DIEGO — Summer is winding down and many Americans are feeling the financial squeeze. When you consider inflation and the high cost of living in San Diego, it’s already challenging. But for those families trying to navigate college move-in expenses and tuition fees, the back-to-school struggle is real. Thankfully you are not alone. Financial Expert and Consumer Advocate Courtney Alev from Intuit Credit Karma joins our Laura Cavanaugh to share strategies for parents and students to save, budget and set you up for success this season.
According to a recent Intuit Credit Karma study, 44% of parents are dreading back-to-school shopping because of the higher costs. In fact, more than half of parents are expecting to spend more this year than they have in prior years.
One of the first strategies is to assess what you already have and determine wants versus needs. Then immediately plan a budget. Take advantage of sales. Tap your network for gently used items. Consider purchasing refurbished electronics. There are even community programs that supply free electronic devices to those who qualify.
Some parents are even forced to dip into debt to afford school expenses. Alev says make sure to exhaust all your options before going into debt. Big box retailers may match competitor prices at the register. Make sure to ask about student discounts. Tech brands like Apple offer student discounts of up to 15-20%, which can really add up.
Financial progress starts with credit health. Learn more about reaching your financial goals at www.creditkarma.com
Sponsored by: Credit Karma