Americans Spend Big on Back-to-School
- The National Retail Federation predicts U.S. back-to-school spending to reach $39 billion.
- Each household is expected to spend an average of $875.
- Consumers are investing significantly in back-to-school supplies.
As families prepare for the back-to-school season, budgeting can become a challenge. Financial expert White emphasizes the importance of planning ahead rather than impulsively shopping. He advises creating a list of essential items and actively seeking discounts, particularly during flash sales or on platforms like Amazon. This strategic approach can help families acquire necessary supplies at reduced prices. In addition to individual savings, White suggests collaborating with other families to purchase items in bulk, such as glue sticks or notebooks, to maximize savings. He also encourages parents to consider swapping gently used items, like sports equipment or outgrown clothing, to meet their children's needs without incurring additional costs. This not only promotes sustainability but also fosters a sense of community among families. Before making significant purchases, White recommends trying items first. For instance, borrowing musical instruments or sports gear from schools or local facilities can help families determine if these items are worth the investment. Renting equipment for a trial period is another viable option that can prevent unnecessary spending. Lastly, families can take advantage of cash-back shopping portals like Ibotta or Rakuten. By shopping through these platforms, parents can earn rewards on their purchases, teaching children the value of money management and deferred gratification. With these strategies, families can navigate the back-to-school shopping season more effectively while staying within budget.