It’s Back-to-School Time (Already!): How Much Are You Planning to Spend?

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It’s hard to believe that summer is already coming to an end and we have to start thinking about putting away the beach gear and breaking out the sweaters. I know what you’re thinking: it seems like just yesterday we were enjoying summer’s first rays of sunshine, and now we’re bidding them farewell for another year.

Where did the time go?

But in addition to beautiful scenery, lower humidity, and pumpkin flavored everything, fall brings other joys, including the quintessential end-of-August task: shopping for back-to-school items. Pencils, notebooks, calculators, and a few new fly outfits are probably on your shopping list, and if so, you’re in good company. The back-to-school business in the U.S. is a multi-billion dollar industry, $72.5 billion to be exact. Between electronics, school supplies, shoes, and clothes, American parents are shelling out big bucks to get their kids ready for school every year. On average, families with kids in primary or secondary school will spend somewhere between $448 and $740 on back-to-school gear.

What’s more, it seems that kids heavily influence their parents’ spending when it comes to shopping for their school items. In fact, 60 percent of parents report that their kids and teens influence more than half of what they spend. After all, most kids don’t want their dorky parents picking out their binders, backpacks, and jeans, right?

For more information about back-to-school spending in the U.S., check out the infographic below:

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How do you think your spending will stack up to the averages? And remember, Quizzle has a lot of great tips for saving money on back-to-school spending, with posts like Back to School on a Budget, Wallet-Friendly Tips for Back to School Shoppers, and Save Big on Your Back to School Shopping, so check out our resources for keeping the kids happy while also keeping some cash in your wallet. Before you know it, the fundraisers will start, so it’s worthwhile to hold onto some dough while you still can!

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