5 New Tips for Back to School Shopping

Speaker 1 Here's one piece of advice that I've given for years: build an emergency fund. Aim to stash away enough to cover at least three months of expenses in case your income suddenly drops.

Speaker 1 Sounds simple, right? But let's be honest, it's not. Saving even one month's worth of living costs can feel impossible.

Speaker 1 Just when you're making progress, that check engine light blinks on and derails your plans. Life already throws enough curveballs.
You don't need your bank adding to the chaos.

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Speaker 1 Work on your financial goals through Chime today. Open an account in just two minutes at chime.com/slash MNN.
That's chime.com/slash MNN. Chime feels like progress.

Speaker 3 Chime is a financial technology company, not a bank, banking services and debit card provided by the Bankor Bank NA or Stripe Bank NA. Members FDIC.

Speaker 3 Spot me eligibility requirements and overdraft limits apply. Timing depends on submission of payment file.
Fees apply it out of network ATMs, bank ranking, and number of ATMs, according to U.S.

Speaker 3 News and World Report 2023. Chime, checking account required.

Speaker 2 I live in LA now, but lately I have been craving the seasons. Snow, hot cocoa, the whole thing.

Speaker 2 I don't even ski, but I have been daydreaming about working remotely from somewhere really cozy on the East Coast, like a cute little ski town for a little bit.

Speaker 2 And whenever I know I'm going to be gone for a while, I always remind myself that my home can actually be working for me while I'm away because I host my space on Airbnb.

Speaker 2 It is one of the easiest ways to earn passive income from something you already have, and that extra income feels particularly helpful this time of year as we approach the holidays.

Speaker 2 A lot of my friends say that sounds amazing, but where do you find the time to manage guests and bookings? And that's when I tell them about Airbnb's co-host network.

Speaker 2 Through Airbnb, you can find a local co-host who can help you set up your listing, handle reservations, communicate with guests, provide on-site support, even help with design and styling.

Speaker 2 I like to give a personal touch when I'm hosting on Airbnb. So I make a list of my favorite restaurants in the area and I hand write a note welcoming my guests to the property.

Speaker 2 My guests love it, but I also know that some of those little personal touches can take a lot of extra time. So this is the exact kind of thing that you would want your co-host to help you with.

Speaker 2 Whether you're traveling for work or chasing the snow or escaping it, or you've got a second place that just sits there empty more often than you'd like, your home doesn't have to just sit there.

Speaker 2 You can make extra money from it without taking on extra work. Find a co-host at Airbnb.com/slash host.

Speaker 1 Here's one piece of advice that I've given for years. Build an emergency fund.
Aim to stash away enough to cover at least three months of expenses in case your income suddenly drops.

Speaker 1 Sounds simple, right? But let's be honest, it's not. Saving even one month's worth of living costs can feel impossible.

Speaker 1 Just when you're making progress, that check engine light blinks on and derails your plans. Life already throws enough curveballs.
You don't need your bank adding to the chaos.

Speaker 1 That's why it's so important to choose one that makes savings easy and doesn't nibble away at your hard-earned money with ridiculous fees. QIIME understands that every dollar counts.

Speaker 1 That's why when you set up direct deposit through QIIME, you get access to fee-free features like free overdraft coverage, getting paid up to two days early with direct deposit, and more.

Speaker 1 With qualifying direct deposits, you're eligible for free overdraft up to $200 on debit card purchases and cash withdrawals. To date, QIIME has spotted members over $30 billion.

Speaker 1 Work on your financial goals through QIIME today. Open an account in just two minutes at chime.com/slash MNN.
That's chime.com slash MNN. Chime feels like progress.

Speaker 3 Chime is a financial technology company, not a bank. Banking services and debit card provided by the Bankor Bank NA or Stripe Bank NA.

Speaker 3 Members, FDIC, spot me eligibility requirements and overdraft limits apply. Timing depends on submission of payment file.

Speaker 3 Fees apply at out-of-network ATMs, bank ranking, and number of ATMs according to U.S. News and World Report 2023.
Chime checking account required.

Speaker 4 I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand.

Speaker 2 It's time for some money rehab.

Speaker 2 If you're a parent or really even just someone who has been in a store lately, you've probably seen the signs. Literally, it is back to school season and that means sales, kind of.

Speaker 2 As an aside, this is my first back to school season as a mom.

Speaker 2 And even though my daughter is only eight months old right now and is a pretty long ways away from school, although she is a genius, so who knows, I cannot wait to buy her a little baby backpack.

Speaker 2 So freaking cute. Anyways, when the time comes, I will be using the best hacks for back to school savings.
Definitely not the old tired tips like use coupons or buy used or look for BOGO deals.

Speaker 2 You do not come to Money Rehab for crusty old tips. You come to Money Rehab for fresh advice that you can't find anywhere else.

Speaker 2 So today, I'm going to share five unique, non-obvious back-to-school shopping tips that will actually help you save money.

Speaker 2 No fluff, no recycled advice, just real strategies that you have not heard a thousand times before. So number one, shop Costco without a membership and poach their back-to-school deals.

Speaker 2 You do not have to be a member to buy some of the best back-to-school staples at warehouse prices. And no, Costco is not a sponsor here.

Speaker 2 They just do have some of the best wholesale type pricing in the game. So here's how to shop there without the membership.
Ask a friend with a membership to load a Costco shop card.

Speaker 2 That's Costco's gift card. You can use it in-store without a membership.
And while you're there, raid the discounted third-party gift cards.

Speaker 2 So think Nike, Old Navy, restaurants for team dinners, often sold at 10 to 25% below face value. I will say, this is a pretty secret hack.

Speaker 2 And because of that, not every Costco employee knows that non-members can use shop cards. But it does say under the member privileges on the Costco site that non-members can use shop cards.

Speaker 2 So if someone gives you grief, just hit them with the fine print.

Speaker 2 And be prepared that they will probably try to get you to sign up for a membership while you're there, but it is totally, totally optional.

Speaker 2 If there's no Costco nearby you, or if you're nervous about pulling off a non-member move at Costco, check out Sam's Club.

Speaker 2 Similar gift card discount situation or shop deals via Instacart factor in the fees, of course, but for big ticket buys, it can still pencil out.

Speaker 2 This works because you're accessing wholesale pricing and pre-discounted gift cards in one run. Just keep in mind that policies can vary and confirm limits on shop card use at your local warehouse.

Speaker 2 Number two, use price protection like a pro. If you want to buy the back-to-school goods, but are worried about getting the timing exactly right, this tip's for you.

Speaker 2 Back-to-school shopping can be kind of like buying a stock. You don't know when the lowest, low price is going to hit.

Speaker 2 Well, don't worry about that because some credit cards will automatically refund you the difference if something you bought goes on sale.

Speaker 2 It's called price protection, and it's not necessarily that rare. It's just hidden in your card's fine print.

Speaker 2 Price protection is a benefit where your card refunds the difference between what you paid and a lower advertised price for the identical item within a set window, often 30, 60, 120 days.

Speaker 2 It's not a chargeback or a retailer price match. It's a perk run by a benefit administrator, not customer service, and is separate from return policies.
Here's how to check if you have it.

Speaker 2 First, search your card name plus guide to benefits. That PDF is the Bible.

Speaker 2 Then look for terms like price protection, price guarantee, price rewind, or sometimes it's buried under purchase security or assurance.

Speaker 2 Note the window, days after purchase, caps like $250 to $500 per item and $1,000 to $2,500 bucks per year, what counts as an eligible retailer and the claims administrator, often card benefit services or something similar.

Speaker 2 Before you count on being able to use this move, make sure you're buying from an eligible retailer. So not an auction site.
Marketplace third-party listings are often excluded.

Speaker 2 You'll also have to pay the full amount on the card that has the purchase protection. Paying partially with gift cards or points can reduce or avoid the coverage.

Speaker 2 Now, your card might have price protection, but not offer an automatic refund. If that's the case, you're going to need to file a claim.

Speaker 2 So, to do that, go to the benefits portal or call the claims administrator, not the bank's general line.

Speaker 2 Submit your original receipt, your card statement or pending transaction screenshot if they allow it, the ad or the URL showing the lower price, and any other form they require.

Speaker 2 And then send yourself a calendar reminder for a follow-up in 10 business days and again before the window closes. Number three, let Uncle Sam treat you for a change.

Speaker 2 Most states have a sales tax holiday right before school starts. This year, 18 states offer discounted and tax-free back-to-school shopping holidays.

Speaker 2 These are days where you'll potentially not have to pay sales tax on purchases of school supplies. In some cases, that is a 6% discount, so you will not want to miss this.

Speaker 2 Do a quick Google search to see if your state is participating and then mark your calendar. But not all items are included, and not all states are obvious about it.

Speaker 2 It differs pretty dramatically state by state, so look up your state's exact dates and eligible items. For example, Florida has two tax-free periods, one in August and one in early September.

Speaker 2 Connecticut's doesn't include school supplies, just clothing. Knowing the calendar and what you can save on can save you big.
Number four, forget buy now, pay later. Use reserve now, pay later.

Speaker 2 Here's one that people don't talk a lot about, but I use all the time.

Speaker 2 A lot of retailers allow you to reserve your cart online with an account, and then they'll often send you a discount code or price drop email within a few days.

Speaker 2 This is a little psychological nudge that retailers use to get you to finally finish your purchase, and you can use it to your advantage.

Speaker 2 So instead of checking out immediately, log in, build your cart, and walk away. So often retailers will email you back within 72 hours, something like, hey, we missed you.
Finish up. Here's 15%.

Speaker 2 If you do so, boom, 15%. Number five, set a Google alert for your must-haves.

Speaker 2 If your kid needs a graphing calculator or if there's a specific backpack they are begging for, set a Google alert with the product name plus sale.

Speaker 2 This is sort of like the equivalent of setting a price alert for a trip on Google flights, but for specific things on your shopping list.

Speaker 2 This saves you from doom scrolling daily and gets deals delivered to your inbox so you're not paying full price in panic the night before school starts.

Speaker 2 NetNet back-to-school shopping is a business and you are the target market. And the industry is huge.

Speaker 2 Families with school-aged kids are expected to spend an average of $890 this year, according to the National Retail Federation. That's up from 864 last year, and tariffs are not helping.

Speaker 2 But that's what I'm here for. I'm here to help.

Speaker 2 I actually got so excited about this episode that I put together eight tips and ultimately decided to just keep five in the episode so that I didn't overwhelm you.

Speaker 2 But if you want the three bonus tips, I'm putting them in today's edition of my newsletter, The Money Minute, which you can get by subscribing to the link in my show notes before 5 p.m. Eastern time.

Speaker 2 But that said, here is one more tip when you can take straight to the bank. On the price protection perk I was talking about, there's some fine print that trips people up sometimes.

Speaker 2 If the item you bought isn't identical to the one that's on sale, you probably won't get that sweet refund.

Speaker 2 So if it's a different color or a different storage size, or if it's sold as a bundle, it's probably denial. Also, some policies compare the item price only, so pre-tax, pre-shipping.

Speaker 2 Others allow shipping in the comparison. So just keep your eye out for that fine print before you hit buy on anything on your back-to-school shopping list.

Speaker 4 Money Rehab is a production of Money News Network. I'm your host, Nicole Lapin.
Money Rehab's executive producer is Morgan Lavoie. Our researcher is Emily Holmes.
Do you need some money rehab?

Speaker 4 And let's be honest, we all do.

Speaker 4 So email us your money questions, moneyrehab at moneynewsnetwork.com, to potentially have your questions answered on the show or even have a one-on-one intervention with me.

Speaker 4 and follow us on Instagram at Money News and TikTok at Money News Network for exclusive video content. And lastly, thank you.
No, seriously, thank you.

Speaker 4 Thank you for listening and for investing in yourself, which is the most important investment you can make.