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Saving Money on Back-to-School Shopping

Summer is winding down, which means it's back-to-school time for many families. According to the National Retail Federation, U.S. households are expected to spend an average of $890 per household this year for back-to-school items—an all time high. It's probably not surprising to hear that in a 10-year period, these expenses have increased about 40%.

The expected average back-to-school costs for students in college is $1,367 this year, up from $1,199 last year. These expenses have increased on average about 63% over a 10-year period. One reason for the expected increase in expenses is because big-ticket items like laptops, tablets, and graphing calculators are needed for school.

Girl pointing at backpack while buying school supplies with her parents.

Tips for Saving Money

Help Your Kids Understand Money Management

As your child starts the new school year, now is the perfect time to teach your kids how to safely manage their money and understand wants versus needs when it comes to spending. If you have a checking account with WaFd Bank*, you and your child can get access to the Greenlight app. Your child will get a debit card that you can turn off if needed. You can also set spending limits, send allowance or other money to your child's account, assign chores, and set spending and saving goals. It even comes with Level Up, a game they can play in the app that teaches them valuable money management skills.

Want Help Managing Your Money

We're here for you, and no question is too small! You can open an account online, visit your local branch, or give us a call at 800-324-9375 to learn more.

*Nonsufficient funds fees may apply


Find your local WaFd Bank Branch


Find your local WaFd Bank Branch

We're nearby, and we'll sit down with you and answer any questions you may have.