Five Ways to Save on Back-to-School Shopping

Make a budget and stick to it when spending on your kids' back-to-school supplies.

Back-to-school prep with father and daughter at home
(Image credit: Getty Images)

With back-to-school shopping season in full swing, concerns on how to afford clothing and educational supplies are increasing, especially as core inflation remains stubbornly elevated. Back-to-school consumer spending is expected to reach a record $41.5 billion, up from $36.9 billion last year, according to the National Retail Federation's (NRF) latest Back-to-School Survey. The average family with children in grades K-12 will spend about $890 on apparel, shoes, supplies and electronics, surpassing the previous high of $864. 

NRF reports that the spending boost is largely driven by increased electronics demand. A record 69% of back-to-school shoppers plan to buy electronics or computer accessories this year, a 4% increase from 2022.

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Marguerita M. Cheng, CFP® & RICP®
CEO, Blue Ocean Global Wealth

Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. She is a CFP® professional, a Chartered Retirement Planning Counselor℠ and a Retirement Income Certified Professional. She helps educate the public, policymakers and media about the benefits of competent, ethical financial planning.

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