Stop Piling On Debt When You’re Back-to-School Shopping

Table of Contents

One in five parents will go into debt this year because of back-to-school shopping. It will also take many of those parents months to pay back that debt, which can get as high as $300 to $500 each and every year. Back-to-school shopping is just one more expense that adds to ever-higher consumer debt. But you can use these tips to keep your spending in check this year.

Save Over Summer

mom saving money

Summer can be a dangerous time for your credit cards. Gas prices go up, you’re eager to get out of town on the long weekends, and you may even have some international travel destinations in mind. But what you should really be doing is setting aside money for essential back-to-school shopping. Try to cut down your summer expenses by walking instead of driving, easing up on the air conditioning, and aiming for more modest travel destinations.

Plan Ahead

Make a list of everything your kids are going to need for back-to-school. Talk it over with them and figure out what they need for stationary and clothes. Increasingly, big ticket items you might have reserved for birthdays like laptops and tablets are needed for school, so be prepared for bigger expenditures.

Compare Prices Online

Once you have your list, go online to compare prices. You can also use online classifieds to look for things used.

Teach Your Kids About Budgeting

Back-to-school shopping is the perfect opportunity to teach your kids about budgeting and why money matters.

Don’t Rely on Credit Cards

no credit cards

When you already have so much debt on your credit cards, it can be tempting to just add up more. If you’ve planned ahead, made a budget, and set some money aside, don’t take out that credit card. Many of our clients at David Sklar & Associates simply relied on their credit cards too much for expected, everyday living expenses.

Canadians have spent years adding to their consumer debts. The average Canadian consumer now owes $8,500 in consumer debt – that doesn’t include their mortgage. Record low-interest rates mean that overstretched Canadian households have been able to keep up debt payments for now, but at David Sklar & Associates, we’ve seen what happens when those conditions change. Canadians continue to borrow to cover bills and interest rates are set to rise.

You may be solvent now, but higher interest rates, unexpected bills, or sudden job loss could make you eligible for a consumer proposal or bankruptcy. Anyone who is already deeply in debt should consider their insolvency options. If you’re wondering what is a consumer proposal, head to our midtown office at St. Clair and Bathurst or any of our six locations in the Greater Toronto Area. A bankruptcy trustee will be happy to help you determine your eligibility for a consumer proposal. Your first consultation is free at David Sklar & Associates.

Debt freedom starts with you, but that doesn’t mean you have to do it alone. If you are deeply in debt and need financial help in midtown Toronto, give us a call. Stop by our office at St. Clair and Bathurst or give us a call today.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

Share This!

Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
I was a reck talking yo Jason Sklar was easy comfortable he explained everything and put my mind at ease I would recommend the team od sklar to everyone. I have already talked to my ci workers about them
kevin mcweeney
01:13 22 Dec 22
The team at David Sklar & Associates is fantastic.I worked with Jerry whom not only made - what seemed like intimidating process to initiate at first - comfortable.He made everything transparent and took the time to explain the process every step of the way.He was kind, attentive, and professional. Everything was made straightforward and stress free and we found a solution together that worked.Thanks to Jerry and the team.
Jordie Angiolillo
18:22 21 Dec 22
From day one till the end which is today😁 DavidSklar gave me a 5star service and treatment. And I will 100% recommend him and his Associates. This is the best Christmas present ever! Thank you David! More business to come! Merry Christmas and a Happy New Year!!!
barbee diaz
16:37 16 Dec 22
I FOUND DAVID SKLAR & ASSOCIATES BY GOOGLING "BANKRUPTCY" (EARLY NOV. 2021). ON NOV.4, 2021 I HAD A MEETING WITH CORI NARON AT HER OFFICE AT ST CLAIR ANDBATHURST. HER POSITIVE APPROACH TURNED ASTRESSFUL SITUATION INTO A STEP BY STEP UNDERSTANDABLE PROCESSON SEPT. 23, 2022 I OBTAINED MY AUTOMATICDISCHARGE FROM BANKRUPTCY AND MY CERTIFICATE OFDISCHARGE.THANK YOU CORIBRUCE BURGESS
bruce burg
21:35 02 Dec 22
Jerry was wonderful and provided superb service. He is very knowledgeable, trustworthy, and made an intimidating and shame filled time in my life stress free. I hesitated for a long time to take the next step, but Jerry answered all questions, was patient and made the process effortless. I am eternally grateful, and highly recommend Jerry’s services.
M J
18:41 01 Dec 22
Jerry was professional and was easy to deal with
Debbie Asquith
00:09 29 Nov 22
I was quite nervous and a little embarrassed that I needed financial advice. I met with Jerry Janiec and he was very helpful. He made me feel comfortable and explained everything in easy to understand terms so that I understood what my options were. I would recommend David Sklar & Associates for anyone in my position.
Melissa Blackburn
19:53 17 Nov 22
I was fortunate enough to be referred to David Sklar & Associates Inc. by a family member. Now in the10th month of a Consumer Proposal process, I am very impressed with the organization, professionalism and impeccable customer representation that I have experienced. To this effect, I amparticularly thankful to Jerry Janiec and Rhoda Lewis for their excellent work.
Suzanna Vaclavik
12:21 16 Nov 22
DS david skalr icon

Book your free consultation.

Call 1-844-962-9200 or fill out the form below.

We know this is stressful, but you’re not alone. It’s going to be okay. 
Book your free consultation today. We’ll do the rest.

Contact Us