Back-To-School Money Saving Suggestions

NEW YORK (CBSNewYork) -- It's that time of year again and back-to-school merchandise is out on the store shelves.

But should you buy it now or hope for a bargain later?

And what happens when your kids want something that'll bust your budget?

CBS2's Emily Smith has some money saving suggestions.

Shoppers at Union Square had the same question -- wait for better sales or get it done now?

"We are hesitating to wait because we are afraid because some of the stuff we need wont be available," said one parent.

According to the National Retail Federation, the average family spends about $620 for back to school about $98 for school supplies.

And each kid has their own agenda for the things they think they need.

To save a little money, experts suggest handling your kids' requests like this:

-- Allow one extra purchase or special request for each child.

-- Have your kids pay for anything that's not on the list if they have an allowance.

-- Have you kids pay the difference between what you're willing to buy and what they want.

-- Just say no -- and use it as a chance to teach money management.

Other tips simply include splitting the cost between two or three families if you can buy bulk at a warehouse store. Or split tasks, asking one family to find deals on glue and rules while another family looks for sales on folders, crayons and highlighters.

Experts also suggest buying at the least amount of items you can now and the rest in mid-September when prices tend to drop.

Lifestyle expert Dawn Del Russo says if you have a larger budget, you can add to the school supply list and really have fun with the latest trends and technology.

Incorporating different colors and personality into the school supplies can help your child show who they are -- and encourage them to have a bright experience -- despite the cost.