Back-to-School: The Price of Notebooks and Pencils

According to the National Retail Federation, the average family is expected to spend more on school and college supplies in 2016 than the prior year, with total expenditures projected to increase nearly 11.5 percent to $75.8 billion (from last year’s $68 billion). Here’s a breakdown of what all those new shoes, lunchboxes and erasers will cost in the K-12 age group:

$673.57: Average amount families will spend on apparel and accessories, electronics, shoes and school supplies, up from last year’s $630.36.

9.6 percent: Increase in the amount families spent last year on those same items vs. this year, for a total of $27.3 billion in 2016. This equals total growth of 54.8 percent over the past 10 years.

$9.54 billion: Amount consumers plan to spend on clothing (95 percent plan to purchase).

$8.27 billion: Amount spent on electronics (i.e. computers or calculators - 57 percent plan to purchase).

$5.12 billion: Shoe shopping (94 percent plan to purchase).

$4.37 billion: Cost of school supplies such as notebooks, folders, pencils, backpacks and lunchboxes (96 percent plan to purchase).

On average, the typical family spends $235.39 on clothing, $204.06 on electronics, $126.35 on shoes and $107.76 on school supplies. The numbers also tend to follow a pattern. A family may spend more during one year as they stock up on supplies, and taper off the next as items are reused or handed down. Spending tends to increase once children outgrow clothing or items need to be replaced.

How can parents save money on back-to-school items?

Focus on finding the best deal on the most expensive items: You’ll find great deals on things like pencils or notebooks pretty much everywhere. Instead, focus your efforts on finding savings on high-ticket items such as computers, calculators, backpacks and cell phones.

Considerpurchasing gift cards at a reduced rate: Once you decide where to shop, consider purchasing gift cards at sites like PlasticJungle.com or Giftcards.com. They sell gift cards at reduced rates — often up to 25 percent off.

Shop end of summersales: Stock up on summer gear that kids can use year round, such as polo t-shirts.

Stick to the list:Don’t purchase items that aren’t on the school list. Not only will they most likely remain unused, but you’ll spend a fortune on cutesy one-offs your kids beg for that they’ll forget in a few days.

Save your receipts: If you buy an item that goes on sale a week later, many stores will grant you a price adjustment. Save receipts for possible refunds.

And for those in need

What about those families that can’t begin to afford such high expenditures all in the name of sending a child to school? Imagine no new backpack, notebook or eraser — this certainly affects a child’s self-esteem and ability to be successful in school. That’s why we have partnered with the Family Giving Tree who collects thousands of school supplies so every child has a fair start. Having the right tools for a child’s education shouldn’t be a “maybe.”