Do you have an extra $700 to spend on school supplies?
That’s what the average parent is expecting to spend for the upcoming school year, according to a study conducted by Savings.com, and nearly half of the 500 parents of school-age children questioned in the survey plan to seek assistance in paying for back-to-school purchases.
Key findings in the back-to-school survey:
- Parents expect to spend a total of $697 on average on school supplies for the 2022-23 school year.
- Almost four in 10 parents plan to spend over $600 on back-to-school shopping this year; only 6% of parents expected to spend that much last year.
- Almost half of parents feel inflation will impact their ability to buy everything their child needs.
- Nearly half — 44% — of parents plan to seek assistance for back-to-school purchases.
Several retailers are addressing the shopping concerns by offering deals in the days leading up to the start of school, Savings.com listed, including: Old Navy, The Children’s Place, Kohl’s, Best Buy, Walmart, Apple, Office Depot, Target and Staples.
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