Back-to-school budgets a real-world learning opportunity for students

OTTAWA – Budgeting for back-to-school shopping can be a daunting task, as parents balance school supply lists with all the other costs of raising children.

But financial experts say it can also offer a chance to involve your children in the process and have them see how budgeting can work.

Amanda Martin calls back to school the perfect real-world teaching moment for helping your kids make choices about money where they can see how it affects them.

“It allows kids to really see the costs, you know, decide what they want to spend money on and learn that money is not an infinite resource that we have,” said Martin, the manager of community engagement and education at the Credit Counselling Society.

“They may actually be shocked at how far or how not so far the money will go once you start looking at the costs of things.”

A survey by Caddle and the Retail Council of Canada done earlier this year said average back-to-school spending for kindergarten to Grade 12 students amounted to $600 to $750 per child when electronics were included.

The report also said 91 per cent of parents surveyed said back-to-school shopping is more expensive than in recent years, while 53 per cent said it was “a lot more” expensive.

Planning a back-to-school budget can help students distinguish between needs and wants with real examples that they can see and relate to.

Zeid Marar, a manager at RBC, recommends having a conversation with your children about the differences between what they need for the new school year and what they want.

Students may want a new calculator or backpack, but chances are the one they had last year can probably be used again. However, pencils, notebooks and new running shoes for a growing child likely fall into the needs side of the equation.

“Getting them to the right decisions and right answers as they’re making these decisions empowers them to make the right financial decisions now and in the future,” Marar says.

Martin says how much independence you want to give your child will depend on how old they are. For young children, that means talking to them about choices you are making while shopping, but as they get older, you can offer more independence.

For 12- and 13-year-olds, Martin suggests giving them a budget and having them choose what they want and research the items for the best deals. 

“Then you can go through that list with them and help them with the actual shopping and the spending part of it, so you still have some control over where the money is going,” she says. 

“But, you give them that initial exercise to help give them the independence about how they would like to spend that back-to-school budget.” 

With more agency however, mistakes are going to happen even with a budget and Martin says it is important to explain what went wrong so they can learn from the experience.

She says talking to your children about money values go hand in hand with budgeting.

“It’s not just the dollars that are spent, but are those dollars that you’re spending in alignment with what you feel is important, with the values that you have,” Martin says.

Marar says financial literacy and learning money habits early is key for success for everyone at any age.

“Building those habits early will serve you really well over your lifetime and help you reach your financial freedom at some point,” he says.

This report by The Canadian Press was first published Aug. 20, 2026.