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The Growing Back-To-School Spending Report: By The Numbers

August 31, 2016 in Financial Planning by

KEY POINTS
  • Every year the cost of education goes up, from back-to-school supplies to extracurricular activities.
  • Parents spend an average of $672 each year per child and the most on new clothes and electronics.
  • Maximize back-to-school savings by shopping at a single store that offers cash-back or rewards points.

Whether you shop early or after your child has already gone back-to-school, the numbers show it isn’t getting any cheaper. Between growing pressure to have the latest technology and multiple after-school or extracurricular activities, parents are spending more and more money to prepare their kids for the new school year – and that’s not even considering the rising cost of college tuition.

Find out how much it costs to send your kid to school in the infographic below.

Are you spending less than average? Tell us how you do it in the comments, or read 7 Ways to Save on Back-To-School Expenses for tips!

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