48% of U.S. Parents Plan Back-to-School Spending Cuts as 80% Cite Higher Living Costs
Updated
Updated · WTOP · Jul 29
48% of U.S. Parents Plan Back-to-School Spending Cuts as 80% Cite Higher Living Costs
2 articles · Updated · WTOP · Jul 29
Summary
A U.S. News survey of 1,200 parents and guardians found 48% plan to cut back on back-to-school spending this year as families prepare for classes next month.
Eighty percent said gas, groceries and other everyday necessities are straining budgets more than school-supply prices, while 29% reported losing a job in the past three to six months—up 4 percentage points from last year.
More than half have already started shopping and expect to spend up to $300 per child, with clothing and shoes among the biggest expense categories.
More than 20% said their children will help cover costs through allowance money or summer-job earnings, and parents are increasingly turning to thrifting, store-hopping, retailer sales and tax holidays to save.