Back-To-School Shopping Costs: How Much Parents Should Expect To Spend This Year
The Huffington Post | By Rebecca Klein
Whether your child attends public school or private school, high school or college, back-to-school shopping is always an added expense. But this year, the cost is expected to be slightly less per family than it was last year.
While back-to-school spending last year averaged $688.62 for families with K-12 children, spending this year is expected to average $634.78, according to the National Retail Federation. In total, families are expected to spend a total of $26.7 billion for K-12 children, although that number reaches $72.5 billion when college-aged kids are added to calculations.
The biggest cost for back-to-school shoppers? Apparel and accessories, followed by electronics.
While average spending is predicted to fall from last year, the president of the National Retail Federation said in a statement that “spending levels are still well above where they were a few years ago.”
“The good news is that consumers are spending, but they are doing so with cost and practicality in mind. Having splurged on their growing children’s needs last year, parents will ask their kids to reuse what they can for the upcoming school season,” said NRF President and CEO Matthew Shay. “As they continue to grapple with the impact of increased payroll taxes, Americans will look to cut corners where they can, but will buy what their kids need.”
Capital One broke down the cost of back-to-school shopping per child, finding that 32 percent of parents plan to spend $100 or less per child, and that 21 percent plan to pay more than $200 per child. Still, 21 percent of parents spend more on September school supplies than they save for their child’s college education each year, according to Capital One’s data.
Huffington Post blogger Adam Levin recently pointed out that it is important for parents to have an established budget before they start shopping. He also noted that sometimes it is better for parents to shop without their kids, in order to avoid pressures to make unnecessary purchases.
“Unless it is absolutely necessary (or a family bonding exercise) to have them with you, it’s best to leave the munchkins at home,” writes Levin. “If you want to know their preferences, browse with them online before hitting the stores. The last thing you need is to be weaving through crowds at Staples, Kmart or Target, or navigating several online retailers, while fending off cries of, ‘Mommy, I really NEED to have this.'”
https://www.huffingtonpost.com/2013/08/20/back-to-school-shopping_n_3751079.html