While some parts of the country still have a few more weeks of summer to enjoy, a lot of kids in the U.S. are already headed back to school, which means parents have been dealing with back-to-school shopping. Well, with everything a little more expensive these days, it shouldn’t be a shock to hear parents are shelling out a lot more to get their kids ready for another school year.
A new report by Debt.com finds:
- 80% of parents say they’ll be spending more money getting their kids ready for school this year.
- 45% of parents say they’ll spend at least $200 per child, up from 29% last year.
- Plus, another 27% plan to spend more than $300 per child.
- As for this year’s biggest expenses:
- 48% of parents expect to spend more on clothing this year.
- 31% will spend more on basic school supplies.
- 21% will spend more on technology.
- 56% of parents plan to head to actual stores to buy school supplies this year, while 44% will shop online.
- As for how they plan to save money:
- 59% will buy generic or store brand items.
- 56% will comparison shop before purchasing anything.
- 56% expect to reuse old supplies.
- 31% will ask teachers what supplies are essential for the first month.
- 28% will cut back on regular household expenses.