It may feel like summer is just getting started, but in some parts of the country, schools are already starting or soon will be. Parents who are ready for the summer break to be over may be happy for the return to school, but with it comes a big price tag for all those supplies, uniforms and calculators. And that’s an expense many of us aren’t ready for.
A new survey from CNet asks over 24-hundred (2,457) U.S. adults about their back-to-school shopping plans and finds:
- Americans will spend an average of $662 on back-to-school shopping this year.
- Nearly half (44%) have already set aside money for this expense.
- Nine in 10 back-to-school shoppers will try to cut costs by using one kind of savings method.
- The most popular ways to save are only shopping sales, looking for discounts and using coupons.
- More than a quarter (29%) are willing to take on credit card debt or use a payment plan, like Buy Now, Pay Later.
- And 22% are planning to shop their state’s tax-free holidays to save on back-to-school needs.
- Fewer people say they’re going to finance their back-to-school purchases, but 14% are still using credit cards to pay for theirs.
To save more on back-to-school shopping, the experts at CNet recommend:
- For laptops, check wholesale clubs, like Costco, to avoid paying full price.
- Make a list of everything you need, prioritize the essentials, then figure out how much you can afford and stick to the budget.
- Compare prices online and in stores and don’t assume the dollar store is always cheapest.
- Buy in phases, starting with what your kid needs on the first day. Then, over the next month, buy more supplies as they go on clearance.
Source: CNet