As students in the D.C. region get ready to head back to class next month, U.S. 小萝莉影视 is looking at their parents鈥� budgets.
鈥淲e asked parents and guardians, 鈥楧o you plan to reduce spending this year on your back鈥憈o鈥憇chool expenses?鈥� And 48% said yes,鈥� said Adriana Oca帽as, consumer credit cards analyst at U.S. 小萝莉影视.
The looked at responses from 1,200 parents and guardians.
鈥淲e found it鈥檚 not necessarily the price of back鈥憈o鈥憇chool supplies and items that鈥檚 weighing heavily on budgets this year. It鈥檚 more so the price of everything else. Eighty percent of families say that it鈥檚 the cost of gas and groceries and other everyday necessities,鈥� Oca帽as said.
Another factor impacting some parents this year is job loss.
鈥淎lmost a third of parents and guardians 鈥� about 29% 鈥� say that they鈥檝e lost their job within the past three to six months, which is 4% higher than it was last year,鈥� she said.
More than half the parents surveyed also say they already started back鈥憈o鈥憇chool shopping, and they plan on spending up to $300 per child. And more than 20% of parents and guardians surveyed by U.S. 小萝莉影视 say they expect their children to help cover back鈥憈o鈥憇chool costs, with an allowance or earnings from a summer job.
鈥淢ore children of those with a household income of over $150,000 are expected to contribute financially compared with children of those who come from a household of under $50,000. So we believe that has a lot to do with the implementation of generational wealth,鈥� Oca帽as said.
Clothing and shoes expenses seem to be one of the most popular categories parents plan to spend on.
Some will try to save this year by thrifting, visiting community centers and more.
鈥淧arents are doing those tried鈥慳nd鈥憈rue methods by store hopping and trying to find the best deals and the best discounts. Other ways are shopping during retailer events like Prime Day, waiting for those sales tax holidays,鈥� Oca帽as said.
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