(WXYZ) – From new clothes to the new binder, your kid’s back-to-school shopping list can add up quickly.
Experts at Credit.com put together a list of some of the most common mistakes parents make when it comes to back-to-school shopping.
They say the first mistake happens before parents even get to the store. They fail to decide on a budget for back-to-school supplies.
Experts recommend having a discussion with your children to establish what you’re willing to spend this year and what supplies are absolutely necessary.
Another mistake parents make is using the wrong credit card for back-to-school purchases. Experts say you should be sure to use the one with the lowest interest rate.
Parents also tend to use credit cards instead of paying with cash. Experts say this is another big mistake. Instead, parents should withdraw the exact amount in cash that they’re willing to spend, which should help them stick to their budget.
Experts also warn parents not to sign up for in-store credit cards, even though many retailers offer big discounts to do so. In-store credit cards tend to come with the highest interest rates, so they should be avoided in most cases.
For more mistakes to avoid during back-to-school shopping, CLICK HERE .
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