The MRL Morning Show

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Back to school

Believe it or not, kids are already going back to school in some parts of the country, and getting them ready for it is taking a bite out of a lot of parents’ wallets. You might have even seen some places doing the teacher’s wish list gifting to help out but a new study does show that parents are going into debt over the ordeal.

A new LendingTree survey finds:

The average parent expects back-to-school shopping will set them back $498, up from $478 last year. 29% say they are unable to afford their kids’ supplies this year. In fact, 33% of parents expect to go into debt due to back-to-school shopping. That number goes up to 42% for parents whose kids will experience hybrid learning and 35% for virtual learning.

  • As for what parents will be purchasing for their kids this year, the top items include:
    • Clothing (83%)
    • School supplies (77%)
    • Shoes (75%)
    • Backpacks (64%)
    • Hand sanitizer (62%)
    • Facemasks (56%)
    • Textbooks (34%)
    • Electronics (32%)

One of the reasons costs are higher may be due to the new pandemic-related supplies their kids will need.

  • 35% of parents say their kid’s school added pandemic-related supplies to this year’s list, including:
    • Hand sanitizer
    • Cleaning supplies
    • Laptops

Source: LendingTree