Back to School Spending

Back-to-School Budget: Spending Spree or Penny Pinching?

With grumblings of a double-dip recession and consumer spending increasing at a slower than expected rate, is it any wonder that parents may be once again cutting back on their back-to-school spending this year? Even if your kids may have visions of shiny new school supplies dancing in their heads, the Wall Street Journal reports that back-to-school spending will be lower than normal this year, at an average of $606 per family. The good news is that this amount is more than the average spent last year ($549 per family). But still, the figure does fall shorter than normal and takes into account the fact that 30 percent of families say they will be reusing supplies from last year. Will you be budgeting as you get ready for the new school year, or making sure your kids get the cutest new school supplies?

Source: Thinkstock
Latest