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From school supplies to school uniforms, heading back to class can quickly become expensive. In fact, according to the National Retail Federation, parents will spend an average of $634.78 this year just to prepare their kids for the new school year. The biggest portion of back-to-school shoppers’ budgets will go toward new apparel and accessories. In fact, 95.3 percent of those with school-age children will spend an average of $230.85.
Total spending on back-to-school is expected to reach $26.7 billion. Total back-to-school and back-to-college spending combined will reach $72.5 billion.
Families ill prepared financially for back-to-school could easily find themselves in the red. Throughout the month of August, Your Money, Your Matters will offer listeners tips on how to spend less and still get everything on their back-to-school shopping list, as well as share strategies on how NOT to blow the family budget during the back-to-school season.
Your Money. Your Matters is a weekly show broadcasting every Tuesday from 11 a.m. to noon Central Time. The program features radio personalities Rick Grady and Linda Webb-Manon, Cornerstone Credit Union League; Courtney Moran, Cornerstone Credit Union Foundation, and Todd Mark, Consumer Credit Counseling Services. Each month, the four discuss financial issues of most importance to consumers. Tune in; share your thoughts; or gain helpful advice.
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It's good to talk.