08/18/2026
Back to School, Without the Back-Breaking Expenses.
As summer winds down and the new school year approaches, school shopping and activity fees can quickly weigh down family finances.
According to national data, families spend over $800 on average per household on back-to-school supplies, clothes, and tech—and nearly 3 out of 4 families report feeling financial stress during this time.
At I AM Federal Credit Union, our goal is to help you navigate these seasonal expenses smoothly without straining your budget. Here are smart ways to stretch your dollars, local resources available across New York City, and details on our I AM FCU Back-to-School Giveaway!
Smart Tips for Your Back-to-School Budget
1. Inventory First, Shop Second: Before making a list, do a sweep of your home. You’ll often find unused notebooks, unopened pens, and durable backpacks from last year.
2. Follow the 3-Store Rule for Clothes: Buy only the immediate basics (3–5 outfits) now. Fall/winter clothes go on deep clearance starting in late September, saving you up to 40%.
3. Set Up a "Kid-Led" Budget: If your children are middle or high school age, give them a fixed supply budget. Let them compare prices between brand names and generics—it teaches immediate trade-offs and real-world money management!
Free Local NYC Resources & Assistance
New York City offers several publicly funded programs to support parents and students with supplies, food, and after-school care:
• Free School Supplies & Backpack Giveaways:
o NYRP Community Garden Giveaways: Free backpack distributions happening across all five boroughs throughout late August.
o Community Affairs Bureau Back-to-School Events: Local NYPD precincts and borough community organizations host free supply drives in late August.
o Contact: Check NYRP Backpack Events or call 311 to ask for local supply drives in your zip code.
• Free Public After-School Programs:
o COMPASS NYC & SONYC: NYC Department of Youth and Community Development (DYCD) offers 100% free after-school programs for elementary (COMPASS) and middle school students (SONYC). Programs include tutoring, STEM activities, arts, and snacks.
o Contact: Search for available sites in your neighborhood at NYC DYCD Discover Youth Connect.
I AM FCU Back-to-School Raffle!
We want to give back to our members!
• The Prize: 25 Lucky winners will receive $50 voucher!
• How to Enter: Visit the branch before by August 31. Ask any teller for your raffle entry!
Proactive Financial Tip: Starting Kids Early with Money
Did you know that core money habits are largely formed by age 7?
While managing this year's school budget is top of mind, it’s also a great time to start simple money conversations at home. Involving your children in setting family saving goals—or using a savings account with us to track money for their special wants (like sneakers or field trip fees)—builds practical financial capability that pays off for a lifetime.
Need Financial Flexibility This Season?
Whether you need a low-rate personal loan to cover seasonal costs or want to set up automated savings accounts for holiday and school expenses next year, we are here to help.
• Visit Us Online: Iamfedcu.org
