Back-to-school shopping is one of the most dreaded shopping sessions for parents. With the ever-increasing prices, the stress caused is also rising manifold. About one-third of the shoppers believe it’s more stressful and costlier.
A survey conducted by CompareCards in 2019 has unfolded how back-to-school shopping is driving stress, debt and family arguments. Belief is that the costs will only rise.
Findings of the Survey
- 36% believe that back-to-school shopping is even more stressful than holiday shopping, and 32% believe it’s more expensive.
- About a quarter people think that back-to-school shopping has damaged their relationship with their child to some extent.
- Slightly more than 1/4th of the buyers expect to go into debt which they won’t be able to repay quickly.
- 50% of the shoppers believe that they would spend more than the previous year.
- 43% of shoppers are stressed about paying for back-to-school shopping.
The Impact Caused
Every year, parents spend billions of dollars on back-to-school shopping. The clear impact is on finance, emotions, and relationships. The stress of paying for shopping is taking a big toll on the wallet and mental health of the parents. Also, the tensions between children and parents increase as catching up with the latest trends come at a price.
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But the expenses do not end at shopping school supplies, over the year, there are extra costs incurred for extracurricular activities such as field trips, projects and book fairs. These extra expenses cost another $51 to $300 for a year. Overall, overwhelming the parents. The need of the hour is to manage this stress.
Dealing with Stress
As a parent, you need to figure out creative ways to cut costs without upsetting the experience of your child. With these complications, one can follow these tips.
Creating a Budget
You need to prepare for the expense prior and set a budget for the shopping. Without a budget, you are more likely to overspend. Figure out a limit on how much you are willing to spend by doing some research. Parents who shop without their children are more likely to stay within their budget. However, decisions should be made by children and parents together.
Finding the Best Deals
Rather than paying for everything via cash, use your credit card. Yes, you will get reward points for every purchase you make which can be redeemed later on. Additionally, look for second-hand books and shop for clothing at second-hand stores. You can also cut back on household expenses. There are many stores that provide student discounts, make use of them. Also, use sign-up bonuses strategically, and compare every shop before shopping.
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Shop Early and try Big Box Stores
Big-Box retailers are the go-to stores for back-to-school essentials. You can also buy stuff online and save some money. Most of the parents start around one to three months early.
No wonder the cost of going to school will keep increasing, but if planned meticulously, the parents can avoid the stress. Proper planning and strategy can take you a long way. Also, the back-to-school season comes only once a year. Thus, relax, you can do it.