Here's a lesson many parents learn the hard way: Back-to-school can do some serious damage to a household budget.
Families will spend an average of nearly $697 outfitting kids in kindergarten through high school for the 2019-2020 school year, the National Retail Federation reports. Equipping a college student for the new term will cost about $977, on average.
Subscribing to MoneyWise Has Its Rewards
Hello! You’ve found us by way of our phenomenal lifestyle content, but did you know MoneyWise is best known for producing thoroughly researched personal finance content, written by the smartest personal finance writers in the industry?
If you subscribe to MoneyWise—for free—you’ll get unlimited, ad-free* access to all of our content (including this article) and you’ll receive a twice-weekly personal finance newsletter that makes you smarter about your money.
*Subscribers must be logged in for display advertising to be disabled. Ad-free refers only to display advertising. Content on MoneyWise often contains affiliate offers. It would be impractical to remove these from content for subscribers. Furthermore, MoneyWise believes linked products and services add sincere value to the content. With that being said, please be aware articles may still contain affiliate offers. These offers will be clearly marked in line with our advertising guidelines.