With fall just around the corner, school supply lists are starting to appear in stores among the rows of bright colored folders, notebooks, pens and pencils. According to the National Retail Federation, families with children in elementary through high school plan to spend $864 on back to school purchases. More than one-third of parents with school-age children said they are unable to afford back-to-school shopping due to inflation, and nearly half said they would take on debt shopping for their kids. As inflation continues to rise, one-third of consumers said they are cutting back in other spending areas to cover the cost of items for the upcoming school year. Families expect to spend more per person on both K-12 and college items this year because of higher prices. Before you head out to the stores or get online, a little time spent planning can help to stretch the budget. Here are some helpful tips to help you have all that you need as kids head back to school.
Click here for the full article: Back to School Spending – Financial Education (wisc.edu)