Shop around to ease burden of getting kids back-to-school

Parents should spend carefully and shop around to ease the pressure of back-to-school expenses, the acting Attorney-General and Minister for Justice John Mickel said today.

“Many household budgets are now feeling the strain of Christmas spending, sales shopping and the expense of school holiday entertainment,” Mr Mickel said.

“The additional spending needed now to prepare children to go back to school will come as a significant financial burden for many families.

“Australians spent billions at the post-Christmas retail sales, and many people are facing a New Year debt hangover with big credit card bills in January and February.”

Mr Mickel said Reserve Bank of Australia figures suggest 2007 closed with Australians posting a record $42 billion credit card debt.

“Parents can come under enormous pressure from children to spend up big on back-to-school items such as shoes, uniforms, bags, books, and stationery,” he said.

“My advice to parents is to create a budget and stick to it.”

Mr Mickel encouraged parents to remember the following tips to help keep spending on back-to-school within the household budget:

·Create a realistic budget and spend sensibly.

·Shop around for goods and compare quality versus cost.

·Try to pay cash or use lay-by rather than credit.

·Check if your school sells second-hand textbooks and uniforms.

“Parents should also plan ahead for expenses during the school year, including fees, additional levies, costs for excursions and extra curricular activities such as sport and music,” he said.

For more tips on budgeting and managing money download a free copy of How to be Moneywise from www.fairtrading.qld.gov.au or phone the Office of Fair Trading on 13 13 04.

Media contact: Chris Brown 3237 1944 or Shannon Mackay 3237 1125

January 19, 2008