Top savings strategies for back-to-school shopping

By The Exchange Team

When it comes to children, as parents are all too aware, it is difficult to cut back.

This year's back-to-school spending is likely to match last year's record $37 billion.

Families with elementary-through-high-school-aged children plan to spend $864 on school supplies, $168 more than in 2019.

"Back-to-school and college items are an essential part for families," said Matthew Shay, president and CEO of the NRF.

According to a second study, 37% of parents expect to spend more this year than last, up to $661 per child.

Nonetheless, according to LendingTree, 75% of parents are concerned about paying the bill, a 12% increase from last year.

These expenses are hurting American families already battling with the greatest inflation in 40 years.