Enjoying the spring and shopping. Family shopping in the city. Liderina / Shutterstock

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.

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