Family Finance and Budget By Michelle P. Sharrow, MBA – August is an exciting month.  It’s a month of new beginnings and extreme savings.

Even if you can’t take advantage of every deal available this month, you can save your family a lot of money by planning and budgeting to take advantage of the many awesome “end of the summer” sales next year.

kids with school backpacks too full

School Essentials

If you can, stock up on essentials to last you through the school year.This applies to school supplies as most stores are practically giving them away.  Extra packs of pencils, loose leaf paper, composition notebooks and crayons are must haves for the at home stash of supplies.  In addition to these items, if your children are really hard on backpacks, now is a good time to purchase an extra one that you can pull out after the winter break.  August school uniform deals are too good to pass up as well.  Load up now because if you wait until you need to replenish later, you’ll be searching long and hard and you’ll pay full price too.  Lastly, now is a good time to stock up on summer clothes for next year as stores are moving out their summer inventory.  So if you have a few extra dollars, purchase extra shorts and short sleeve shirts a size bigger and you’ll be set for next spring.

Food Supplies and Kitchen Staples

Now is also a good time to stock up on summer foods and paper products.  Sodas, hotdogs, hotdog buns, lunchmeat, steak and chicken as well as condiments are all on sale this time of year.  If you have the storage space and a few extra dollars, you can really decrease your winter food budget.  In addition to these foods, paper plates, cups and utensils are also on sale.  You can purchase extra packages of these items now which will save you time and money.

Outdoor Furniture

August is an excellent month for snatching up outdoor patio furniture and outdoor toys. I think that patio furniture deals are some of the greatest to be found this time of year.  Stores seem desperate to clear out these seasonal items.  You can find chairs, tables, fire pits and even garden tools for 70 percent off or more.  If you have the time, you can also visit stores once or twice a week until the price is at a level that you are comfortable paying to save even more.  If you have small kids now is a good time to stock up on outdoor toys too.  Sand and water tables, play sets, and water slides are all on sale. In fact, because most areas of the country have at least one more month of warm temperatures, you can enjoy these items now.

August is a month of good deals.

By taking time to really chart out the sales; you can save hundreds of dollars on essential and nonessential items such that you won’t have really huge outflows of money at any one given time of the year.

 

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Michelle Sharrow

Michelle Sharrow

Michelle P. Sharrow, MBA is a seasoned freelance writer specializing in personal finance. Based in Waldorf, Maryland, she holds a Masters Degree with a concentration in Finance. Michelle provides a monthly column on ways to help families maintain their finances and stick to a budget titled, Budgeting and Savings for Families.

More Family Finance:

http://extension.usu.edu/utah/htm/family-finance

http://extension.oregonstate.edu/fch/healthy-families/family-finances

http://www.usa.gov/Citizen/Topics/Money/Personal-Finance.shtml
Michelle Sharrow

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