If you've got a kid heading back to school this fall, you better start loosening up your wallet now
According to CNN Money, parents are expected to spend nearly 15 million dollars on school supplies this year, with the average family forking out $483 dollars. That's $33 dollars more than last year.
The National Retail Federation says clothing will account for most of the expense. But they expect that half of students will also be getting electronic or computer-related materials. Tracy Mullin from the Retail Federation says the amount of money spent on electronics has soared in the past several years. They've become affordable for most families, enabling parents to continue their kids' education at home.
Mullin says the majority of shoppers will be hitting discount stores about 75%. And office supply stores will see about 35% of shoppers.
Better start saving that $483 dollars now. You never know what new gadgets they'll come up with by September.
The National Retail Federation says clothing will account for most of the expense. But they expect that half of students will also be getting electronic or computer-related materials. Tracy Mullin from the Retail Federation says the amount of money spent on electronics has soared in the past several years. They've become affordable for most families, enabling parents to continue their kids' education at home.
Mullin says the majority of shoppers will be hitting discount stores about 75%. And office supply stores will see about 35% of shoppers.
Better start saving that $483 dollars now. You never know what new gadgets they'll come up with by September.
