Getting all the supplies to head back to school can be pricey. How can you budget without putting your child's quality of learning on the line? WSFL Trusted Advisor Chad Van Horn, of Van Horn Law Group, is here to help you do just that.
Have your budget ready when it's time to start shopping. If you go over and get the offer to save some money by signing up for a store credit card, don't do it. Not only are you overspending already, but those cards will just result in payments and higher fees later down the road. Store credit cards are notorious for high interest rates, up to 20%, so you're better off without them. If you do sign up for one, try to get it paid off as quickly as possible.
Trying to fit in one final vacation before school starts again? Don't use it as an excuse to max out your card. When you head back home you can keep your credit score in a good place by either paying down the cards with the highest interest rate first or paying down the lowest balances. However, you'll save more money by paying down the cards with the highest interest rates.