From school fees to extracurriculars and daily expenses, education comes with financial demands that can weigh heavily on families. September is often synonymous with finalising back-to-school preparations, because even if the school year has already started, it’s never too late to sharpen your financial strategy. That’s the advice from Nickeisha Bonnick Magnus, Branch Manager, Sagicor Bank Hope Road, and Kayon Walker-Heslop, Manager, Supplemental Benefits and the Direct Marketing Programme at Sagicor Life Jamaica, who shared practical and sometimes unexpected ways parents can stretch their dollar while preparing for a full school term.

1. Budgeting with a Twist

“Back-to-school can be stressful for parents, largely because of insufficient planning,” noted Bonnick Magnus. “Even if the term has already started, creating a budget is still the most effective way to manage costs for supplies, uniforms, and activities.”

Beyond traditional budgeting, families can also explore group buying with other parents to tap into wholesale discounts on books and supplies. “It’s a practical way to share costs and maximise value,” she added.

2. Unlock Hidden Funding Opportunities

Many local service clubs, churches, and community organisations provide small grants or book vouchers to help parents manage school-related expenses. Parents are encouraged to research or ask schools about these opportunities.

Additionally, consider building a back-to-school fund using automated salary deductions, so by next September, you’re already ahead.

For parents looking to instil this same discipline in their children, Bonnick Magnus suggests starting them off with their own account:

“Our Sagicor Bank Star Savers Account can be opened with as little as $200. It’s a great way for children to learn the habit of saving from an early age while parents reinforce the importance of financial responsibility.”

3. Turn Old into New: School Supply Swaps & Resale

Instead of discarding gently used uniforms, shoes, or backpacks, families can organise or join school supply swap groups within their communities or Parent-Teacher Association (PTA). This not only cuts costs but also promotes sustainability.

For items you’ve outgrown but can’t swap, selling online through e-commerce platforms can generate quick cash to reinvest in new school needs.

4. Maximise Everyday Spending

When every dollar counts, using cashback and rewards programmes on your credit card can be a game-changer. “Parents should pay attention to which suppliers are offering discounts for back-to-school and pair that with card rewards to stretch their spend even further. Our Sagicor Bank Credit Card is a perfect way to earn cashback or points for everyday purchases,” advised Bonnick Magnus.

Planning ahead for seasonal sales like Black Friday and Cyber Monday is also a savvy way to save on essentials like shoes, electronics, and clothing.

5. Be Prepared – Financially and Beyond

Emergencies don’t wait for the right time, which is why Walker-Heslop advises parents to secure proper coverage.

“It is not uncommon for unexpected moments to arise during the school year, so it is important to ensure that both you and your child are prepared,” she explained. “With options such as Sagicor Life’s School Companion Health Plan and the Child Protector Plan, parents can have peace of mind knowing their children are protected for both medical needs and life’s unforeseen circumstances.”

And just as important as financial security, she reminds parents to take a holistic approach to well-being; by having balanced meals, engaging in physical activity, and having open conversations about school life.