To me, the Labour Day weekend will always signal the wrap up of summer, the start of a new school year, the IPE and Armstrong Rodeo. Major events! This week our 5 year old began her school career…Kindergarten. Gradual entry (2 weeks no less before the first full day) is very, very gradual but it got me thinking about whether or not we need a Back to School Budget.

We are not required to arrive at Kindergarten with school supplies, new clothes or pay tuition but our financial situation changes. Lower child care fees! As mentioned in an earlier post, I took this opportunity to adjust our budget to repay our debt faster. Specifically our mortgage. I increased out monthly mortgage payment so that every month the extra will reduce the principle….slow and steady does it!

For many households, the start of school means greater impact to their budgets. In particular Post-Secondary School students can find themselves in a confusing situation. Flush with cash but large payments and a 8 month school year. The next post will give some tips on how to manage the Back to School (Post-Secondary School) Budget.