Back to school means expenses! Clothes, shoes, and school supplies can drain a budget quickly. According to The National Retail Federation, the average family with school-aged children spends $606 on back-to-school items--clothes, shoes, supplies, and electronics--each year. It’s no wonder setting a budget is essential for all parents with school-bound youngsters.
To avoid falling into debt at back-to-school time, plan ahead for how much you want to spend. You also may want to budget for the changing technology of school supplies. More classrooms are using computers and computer-related study materials. And with many electronics now somewhat affordable to most families, classrooms may be requiring or recommending tech-smart supplies and materials.
Also, don’t forget about doctor checkups, school fees, and athletics or other extracurricular fees, which often are overlooked when setting a back-to-school budget.