Key points:
- U.S. adults who have purchased or plan to purchase back-to-school items spend an average of $662.
- Surprisingly, 44% of respondents said they have set aside funds for back-to-school shopping.
- 90% of back-to-school shoppers use at least one savings method to reduce costs, with the majority (41%) turning to sales, discounts and coupons.
- Nearly three in 10 (29%) shoppers would consider taking on credit card debt or using a payment plan such as “buy now, pay later.”
Back to school season is one of my favorite times of the year. It may seem too early to talk about buying school uniforms and laptops for your kids, but one in four U.S. adults has already started buying supplies or plans to do so starting in early July, according to a new survey from CNET. I am one of them.
Over the past few months, I’ve been reporting on rising costs for everything from energy bills to groceries. I’m also a mom and expected to spend more money on school supplies this year, so I started my back-to-school shopping. I budgeted $300 for supplies and I’m already cutting back. To be honest, I would probably spend an extra $100 to pay for my kids’ uniform shirts, but I’m okay with that because it won’t be in my pocket all at once.
Like me, 90% of Americans have ways to help them save money during the back-to-school season. I’m pleased to see that more American adults (44%) are saving money for school shopping this year. Planning ahead can help you avoid overspending and accumulating debt, especially around sales and state tax weekends.
Dasha Kennedy, a millennial financial coach, CNET Money Expert Review Board member and founder of The Broke Black Girl, is excited that more families are budgeting for school supplies this year. “It’s encouraging to see families using the money they set aside for back-to-school shopping,” Kennedy said. “This trend demonstrates a proactive approach to financial planning.”
Here’s expert advice on back-to-school shopping, how parents can afford shopping, and keeping costs down, as found in our latest CNET Money survey.
How much do Americans spend on back-to-school supplies?
According to a CNET survey, parents and students spent an average of $662 on back-to-school supplies this year. I’m not surprised by this, especially when you factor in things like multiple kids, grade levels, and higher costs.
Kennedy pointed to another factor that could lead to higher costs: back-to-school technology equipment.
“As schools use technology more and more, the demand for technology products increases,” Kennedy said. In addition to computers and tablets, there are headphones, chargers, accessories and apps that cost more than pencils and paper. However, shoppers plan to spend 11% less than last year, according to a survey by financial consulting firm Deloitte.
$662 is not a small amount of money. So how do Americans pay for all this?
Most shoppers are taking steps to save on school supplies
The majority of respondents (41%) said they are taking advantage of promotions, discounts and coupons to save money to better afford the high cost of back-to-school. I know I am. I purchased uniform bottoms for my son during Circle Week at Target and saved a total of $15. I just picked up more items on sale, including markers and plastic folders, Target also had 50% off.
Other savings methods used by shoppers include comparison shopping (39%), taking advantage of major sales events such as Prime Day, and buying fewer items (33%).
hint: You can also save on back-to-school clothes and uniforms at second-hand stores like Once Upon a Child. You can sell your children’s used clothes and items, such as school bags and shoes, and buy items for a fraction of the price of new clothes.
If you’re looking for a deal, Kennedy recommends getting started now. She also recommends checking to see if your state offers tax-free weekends to help you avoid sales tax on big-ticket items like laptops and clothing. According to our survey, 22% of U.S. adults will shop during the tax-free holiday this year to save some money.
Also keep an eye on what retailers are selling. Even though Target Circle Week and Amazon Prime Day are over, you might still be able to find some great deals on some back-to-school items you need now. If you don’t want to buy everything now, there may be more sales and clearance items later in the year that will allow you to save even more.
How Americans are paying for back-to-school expenses
Experts welcome the fact that the majority of respondents (44%) are using the money they’ve already budgeted for back-to-school shopping.
“More and more families are becoming financially aware and planning ahead to avoid debt,” Kennedy said. Between inflation and changing school supply needs, such as more technology products, shoppers can Make smarter decisions about your needs during the school year without breaking the bank.
Kennedy was a big proponent of breaking the costs of large purchases into smaller, manageable increments because it eased the burden of spending large amounts of money from one paycheck. She adds that since back-to-school shopping happens every year, saving money throughout the year can help you plan ahead without jeopardizing other daily expenses or goals.
While it may be too late to plan this year, consider opening a separate high-yield savings account for next year’s expenses. Depositing $25 each pay period (assuming you get paid every two weeks) can save you $650 in a year.
Fewer shoppers are using BNPL and credit card borrowing
There is good news. Most shoppers plan not to fund back-to-school shopping this year. Additionally, 14% still use credit cards, but not as a financing tool. They use it as part of a larger payment strategy or to earn rewards. These respondents said they planned to repay their balances in full.
If you’re using a credit card to pay for back-to-school purchases you can’t currently afford, consider a 0% APR card, which will give you more time to pay off your balance without accruing interest. If you choose a buy now, pay later plan, be sure to factor installment payments into your budget so you don’t miss a payment, get late fees, or hurt your credit score.
You can also pay in installments using an installment payment service such as Amazon Layaway. This option differs from the BNPL plan in that you will only receive the item once the final payment has been made. If you decide you can’t afford the purchase, you can get a full refund. Amazon Layaway is not available in all states or on all items, so check which items are eligible before using this option.
How to reduce the cost of high-priced tech products in schools
School-related technology, such as computers and accessories, is one of the more expensive items on the supply list, especially for colleges. For example, a good laptop can cost between $700 and $1,000, says Josh Goldman, technology expert and editor-in-chief of CNET. Here are some ways Goldman Sachs recommends you reduce your spending on back-to-school technology.
Goldman Sachs says laptops are always on sale, so it’s better to hold off on paying the full amount. You can reduce costs by checking out local wholesale clubs, such as Costco. Your school or college may also offer discounts or special offers on select technology brands. Check with your school’s bookstore or technical services organization.
You may also find a laptop or headphones that need refurbishing. That’s okay, but only buy used tech from reputable sources. Goldman Sachs, who has been covering computer technology for more than a decade, recommends Back Market, Apple, Best Buy, and eBay’s refurbished marketplace, which offers students an extra $20 off. Tech brands like Dell also offer refurbished options. No matter where you buy from, be aware of the return policy and warranty in case you’re not satisfied. eBay’s refurbished store has a 30-day return policy and a minimum one-year warranty.
However, finding a used product doesn’t always mean it’s the best deal, Goldman Sachs said. “I recommend doing a quick search online for the model you’re interested in to see how old it is, and if it’s over a year old, find out what the price is for newer versions,” he said. “It’s not unusual to see deep discounts on new laptops that are actually less than refurbished prices.”
Be skeptical of tech scammers, too. CNET’s videographer Jessica Fierro and senior editor Corinne Reichert recently reported that copycat tech products are often of poor quality and often not worth the bargain price.
More ways to save on back-to-school supplies this year
We could all save some money. Here are some of Kennedy’s top tips for saving money on school supplies.
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Make a list and set a budget: Write down everything you need to buy and prioritize the essentials. Then, decide how much you can afford and stick with it.
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Compare Prices: Check prices online and in stores to find the best deals. Don’t assume that dollar stores always have the lowest prices; sometimes large department stores have items for even lower prices. Download the store app to compare prices and find coupons online that aren’t available in-store.
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Avoid impulse spending: If it’s not on your list, don’t buy it. If you’re shopping in person, consider using cash to avoid overspending.
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Buy your home first: Look at last year’s supplies and see what can be reused. Even small items can offset your total spending.
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Purchase in stages: You can start by buying only what your child needs to get started, and then buy more supplies when they’re on clearance the next month.
What to do if you can’t afford school supplies right now
If you can’t afford school supplies, addressing the issue with your child’s school is often a good first step.
Alaina Fingal, an accountant, financial coach and member of CNET Money’s Expert Review Board, strongly recommends talking to your child’s school and teachers.
“Many schools will be handing out uniform vouchers and many uniform stores have installment plans to help you spread the cost of your return to school,” Fingal said.
The school can also connect you with nonprofits and local donation drives to help you get the supplies you need for free or at a low cost.
Fingal also recommends contacting your child’s teacher to find out what items are needed. “We discovered a few years ago that many school supply lists were mandated by the county and many teachers would not use many of the supplies listed,” Fingal said. “We started contacting teachers before the school year started, which saved us money hundreds of people’s time.”
method
CNET commissioned YouGov Plc to conduct the survey. Unless otherwise stated, all data comes from YouGov Plc. The total sample was 2,457 adults, including 621 back-to-school shoppers. The field survey was conducted between July 3 and 8, 2024. These numbers are weighted and representative of all U.S. adults (18 years and older).
