If you’re looking ahead to back-to-school season with trepidation instead of excitement, you’re not alone. While parents everywhere are ready for classes to start back up, the prospect of shopping for school supplies this year has many of them worried, according to a new survey from WalletHub. 70% said they think schools ask them to buy too much, while 52% said they expect their back-to-school shopping to cost more this year than it did last year. That’s not surprising, considering the cost of consumer goods has been steadily rising for the last three years.
WalletHub also found that 33% of parents are using coupons to try to save on their kids’ back-to-school needs, while 29% are looking for savings in other way, like opening a new credit card.
These findings underscore a heightened financial strain on families during the back-to-school season and a stronger call for educational reforms to address these economic challenges,” WalletHub analyst Cassandra Happe told USA Today.
The National Retail Federation and Prosper Insights & Analytics’ annual survey shows that total back-to-school spending is expected to reach $38.8 billion, the second-highest on record after last year’s all-time high of $41.5 billion. Families with children in elementary through high school plan to spend an average of $874.68 on clothes, shoes, electronics, and school supplies this year, according to the survey. That’s only $15 less than last year’s record-breaking amount.
Over on TikTok, you can already see parents struggling with their shopping. One mom, who posts under the handle @family.of.nomads, shared a video that showed her shopping for school supplies for her kids’ first year of public school after three years of home schooling. After shopping for everything on their back-to-school lists at Target, her cart was overflowing. In the caption, she revealed that the total was over $1,000.
@family.of.nomads 😳 but why did it cost over $1,000? #backtoschool #schoolshopping #asmr #shoppingasmr ♬ original sound – Jessica Roderick ☀️
“we spend so much too for 3 kids. it will be better when you can buy it in August when it’s on sale,” one commenter wrote. The video’s creator replied, “I honestly think this was the biggest contributing factor. Nothing was on sale.”
Another TikToker posted a video captioned, “$1,000 back to school haul.”
@demariodouglaslover3 Ive had that eraser for 5 years #broke #backtoschool #school #fyp #xyzbca ♬ original sound – ʞ
Then she zoomed in on a single broken pencil and a used eraser she said she’s had for five years. That’s relatable content.
