SACRAMENTO COUNTY, Calif. — Back-to-school shopping can get expensive. Students need all sorts of things, like new clothes, shoes, electronics, books and basic school supplies. But there are ways people can save money and avoid breaking the bank. That includes using student discounts or coupons.
Families plan to spend big on school supplies for the upcoming academic year, according to a survey by the National Retail Federation. It shows families with children in elementary through high school plan to spend an average of $874.68 on clothing, shoes, school supplies and electronics. The total back-to-school spending is expected to reach $38.8 billion in the U.S.
"The back-to-school and college season is an important time for retailers and consumers," NRF Vice President of Industry and Consumer Insights Katherine Cullen said. "Families and students are eager to get a jumpstart on their shopping for the start of the school year. Retailers have anticipated this early demand and are well-positioned to offer a variety of products at competitive prices."
Families with children in kindergarten to 12th grade spend the most on electronics, budgeting $309.35 on average. The next pricey items for back-to-school shopping include $253.29 for clothing and accessories, $141.62 for school supplies and $170.43 for shoes.
College students and their families are expected to spend an average of $1,364.75 on items for the upcoming school year. The total back-to-college spending is expected to reach $86.6 billion. Last year, total spending was forecast to hit a record $94 billion.
“Last year’s watermark was partially driven by record investments in electronics, with 69% of back-to-school shoppers planning to purchase a laptop, tablet or other electronic device for their student,” Prosper Executive Vice President of Strategy Phil Rist said. “These are typically items students can use for several years, which may be why we are seeing slightly less interest in electronics this year.”
The top five categories for college spending include $359.49 on average for electronics, $192.40 for dorm or apartment furnishings, $171.06 on clothing and accessories, $149.71 on food and $112.60 on shoes.
The most popular destination for back-to-school shopping is online. Other destinations include department stores, discount stores, clothing stores and electronics stores.
Financial experts recommend creating a realistic budget and shopping list before you go to the store. People can also consider reusing school supplies from last year, as long as they're still in good condition. That way you don't have to buy any new items unnecessarily. It's also a good idea to shop around and check out other price tags, before making a large purchase. You never know what you might find on sale somewhere else.
"You have to make sure that you go into the store with a goal in mind," Pamela Rodriguez, founder of Golden Wealth Capital, said. "You don't want to go into the stores just shopping like crazy and getting everything your heart desires. Yes, we all want things, but we really only need x, y, and z when it comes to back-to-school shopping. So, sticking to the shopping list is crucial."
Whatever you purchase, money experts say you should think about the quality of the item. That way you will be able to save money in the long run and not have to worry about replacing the exact same item later because it got worn out easily.
