Summer vacation is winding down, and the school year is right around the corner. On Tuesday, Sept. 2, thousands of Kamloops students will return to classrooms—but for many local families, the real homework has already begun: back-to-school budgeting.

And with inflation, tariffs, and rising living costs still squeezing household budgets, that task has become more stressful than ever.

“This is a subject near and dear to my heart—I’ve got three kids of my own,” said Chris Sinclair, Senior Vice President and Licensed Insolvency Trustee with BDO Debt Solutions. “We’re hearing from clients that this year, more than ever, the back-to-school shop is hitting hard. The costs are really adding up.”

Back-to-School Bills Approaching $750 Per Child

Surveys show Canadian parents are now preparing to spend anywhere from $650 to $750 per child to get them classroom-ready. That includes everything from pencils and paper to new clothes, shoes, backpacks, and—especially for older students—big-ticket tech items like laptops or scientific calculators.

A recent Credit Karma survey revealed that more than one-third of parents can’t afford those costs, and 44% expect to take on debt to cover the expense. Even more concerning: over half say they’ll sacrifice essentials like groceries to ensure their kids are equipped for the first day of school.

“It’s not surprising that so many families are feeling overwhelmed,” Sinclair said. “Inflation may have cooled slightly, but everything still feels expensive. And parents want to give their kids the best start—they’ll stretch themselves to do that.”

The Budget: A Simple Tool That Makes a Big Difference

According to Sinclair, the key to staying financially afloat during the back-to-school season is one word: budget.

“It might sound basic, but putting a plan together makes a huge difference,” he said. “Start by reviewing the list your child’s school provides—it’s usually pretty comprehensive. Then take stock of what you already have at home. Most kids bring home half-used supplies in June and forget about them.”

Once you know what’s really needed, Sinclair suggests setting a dollar limit and shopping with intention—rather than wandering the aisles grabbing items at random.

“That chaotic shop where you’re just grabbing stuff? That’s where you overspend,” he added. “Having a game plan helps keep the costs under control.”

Tips to Keep Costs Down

Beyond budgeting, Sinclair shared several strategies to help parents cut costs:

• Wait for Sales: “Some parents will buy only the basics for the first week or two, then circle back after mid-September when retailers start slashing prices.”

• Go Thrifting: Shopping second-hand, especially for younger kids who outgrow clothing quickly, can result in major savings.

• Shop Smart Online: Use platforms like Facebook Marketplace, Temu, and Amazon to compare prices.

• Buy in Bulk with Other Parents: Teaming up with friends or other parents to buy school essentials in larger quantities can reduce per-item costs.

• Use Loyalty Points or Coupons: “It takes a little extra work, but all those small savings add up.”

Lunches and extracurriculars can also sneak up on families. Packing homemade meals instead of pre-packaged snacks, using leftovers, and investing in quality containers can reduce waste and costs.

As for after-school activities like sports, music, or dance?

“They’re important, no question—but they’re also expensive,” said Sinclair. “It’s okay to prioritize one or two activities and skip the rest. Have that conversation with your child and get them involved in the decision-making.”

A Teachable Moment for Kids

Sinclair encourages parents to turn the budgeting process into a learning opportunity.

“This is a great time to teach kids about needs versus wants,” he said. “Have them help create the budget. Show them the costs. Let them track spending or contribute their own money if they want something a bit extra—like brand-name shoes or a specific backpack.”

This hands-on approach introduces financial literacy in a real-world context, something Sinclair says Canadian schools still don’t do enough of.

“We don’t do a great job of teaching financial literacy in this country. That’s why it’s so valuable when parents involve their kids in budgeting. It sets them up with skills they’ll actually use in adulthood.”

Back to Campus? The Costs Are Even Higher

For parents with children heading to university or college this fall, the stakes—and the bills—are even greater.

The average Canadian post-secondary student will spend over $1,300 to get ready for their first year, and that doesn’t include tuition or housing. Many require laptops, phones, dorm furnishings, and more.

“Students are getting their first credit cards, managing their own money, taking on student loans—it’s a lot,” Sinclair said. “This is the time to sit down and create a budget together. Help them understand what they’re working with, what they need to spend on, and how to avoid falling into the debt trap.”

Parents should also talk to their post-secondary kids about Fear of Missing Out and You Only Live Once culture—both of which can lead to impulsive overspending, especially with peer pressure and social media influence.

“We want young people to enjoy the experience, but they need to live within their means,” said Sinclair. “Remind them that student loans and credit card debt aren’t free money—they’re real obligations.”

Don’t Suffer in Silence

For families already stretched thin, Sinclair says the worst thing to do is ignore the problem. “I know there’s still stigma around debt, but if you’re worried, reach out.”