School holidays are wrapping up, and while kids might be dreading the early morning starts and homework coming their way, parents are faced with trying to pay for back-to-school costs.

Finder data shows school supplies alone are expected to cost families a whopping $2.6 billion for the year ahead.

A fresh set of school supplies, including textbooks, stationery and a uniform, will set parents back an average of $571 per primary student and $771 per secondary student.

When other costs such as tuition fees, camps, sporting and musical equipment are taken into account, the total cost jumps up to an average of $2325 per primary student and $4212 per secondary student.

Finder money expert and mum of three Sarah Megginson told TND the costs could be hitting parents harder this year after already have seen the cost of everything from petrol to mortgages rise over the previous year.

“The bigger issue is just the context in which people are having to pay back-to-school fees, because it comes on the top of an expensive Christmas, and a very expensive 2022, where we saw both rents and mortgages increase an extraordinary amount,” she said.

“Whether it was your energy bill, paying for petrol for your car, or groceries, every kind of aspect of our budget has been stress-tested.”

Set your savings plans ahead of time

Chronos Private principal adviser Chris Giaouris said parents should start setting aside funds for school expenses as soon as possible, even years before the child reaches school age.

Although it is better in terms of planning to set aside a specific amount regularly, Mr Giaouris said “anything is better than nothing”, and to spare what you can.

He said a method of saving that has become popular with his clients over the past year has been through using offset accounts, which are everyday transaction bank accounts linked to a home loan.

It’s never too soon to start putting away money for your child’s education. Photo: Getty

As offset accounts are linked with mortgages, which see interest rates rises more in line with the Reserve Bank of Australia’s cash rate hikes, you could potentially earn more interest on your savings than in a regular savings account.

“We’ve got clients who have [about] half a dozen offset accounts, and they all have different purposes,” Mr Giaouris said.

“If you’ve got funds in a savings account making you 3 per cent or you have funds in an offset account, offsetting your mortgage at 5 per cent, you’re net better off having that money in the offset account, because it’s offsetting interest at a higher rate than what you’re earning by your savings.”

Ask the school for help

Many schools will offer various excursions and camps, the costs of which can add up alarmingly quickly if parents are unprepared.

Ms Megginson said if your child’s school doesn’t offer information about the year’s outings, make a point of asking so you budget accordingly.

“A few years ago, I had a $1500 trip just sprung on me,” she said.

“We got told of the trip [with] about three months notice. The majority of parents couldn’t afford it and the trip actually got scrapped.

“Since then, I have always made a point at the beginning of the school year to ask the school for each of my children what are the activities and camps and excursions that are expected this year, so that we can  budget ahead for it.”

Ms Megginson said every school should also have a hardship program, so if you find yourself struggling to keep up with school costs, you should reach out to discover what options and payment plans might be available to help.

Look for cheaper tech devices

Schools often have rules about what type of tablet or laptop students can have to make sure required software and programs can be used across the cohort.

But Ms Megginson said if parents are required to buy a device rather than through a school, a refurbished tablet or laptop could save some cash upfront.

Technology isn’t a luxury reserved for adults any more. Photo: Getty

Though she doesn’t recommend buying a second-hand device because you can’t be certain of its history and condition, especially when buying off platforms such as Facebook Marketplace and Gumtree, Ms Megginson said parents should look for refurbished devices that have been fully reset by a professional.

“[Refurbished devices] can be 30 to 40 per cent cheaper than buying them brand new, so that’s definitely a really good option to look at,” she said.

“And again, speak to your school, because there’s likely to be a few devices that they have available that you might be able to borrow if you’re not in a position to purchase a device upfront.”

Go second-hand when you can

Pens, pencils, textas, glue sticks, calculators and scissors are often staples of a back-to-school supplies order form – but you should check last year’s pencilcase before signing up for more.

“My kids bring home their stationery at the end of every year, and we probably have 15 pairs of scissors now, so my daughter will absolutely be taking [used] scissors with her on her first day [this year],” Ms Megginson said.

Uniforms can be one of the pricier school expenses, so it’s worth asking the uniform shop if there’s any second-hand options available.

If you’re in contact with other parents at your child’s school, you can also reach out and see if they have uniforms their children may have outgrown, or offer uniforms your child no longer needs.

“We’re all in it together. No one is kind of immune from this cost-of-living crunch at the moment,” Ms Megginson said.

Shop around

If your school doesn’t require you to shop for basic supplies from a specific supplier, check out as many retailers as possible to get the best deal you can.

“Obviously all of the big retailers are very aware that this is a big expense, and it’s a big opportunity for them in terms of sales,” Ms Megginson said.

“All the big retailers like Officeworks, Big W and Kmart, they have all their back-to-school specials at the moment, so it’s worth shopping around to see where you can get the best deal.”