A recent survey reveals that a majority of American parents are experiencing financial stress this back-to-school season, spending an average of $570 per child, which is an increase over last year’s spending on school supplies.
Key Takeaways
-
Financial stress is widespread: Two-thirds of parents report that back-to-school shopping is a financial strain, with over half spending more than they did last year.
-
Debt and trade-offs are rising: Nearly a quarter of families are incurring credit card debt, averaging $350, and most are making lifestyle adjustments to cope.
-
Prices driven by multiple factors: Inflation, retailer increases, and trade policies are highlighted as the main drivers behind increased back-to-school expenses.
8th & Walton is based in Bentonville: Walmart is our neighbor! Contact us today to set up a free consultation and see what a hometown advantage can do for your company.
