Yahoo Finance How to save a few bucks on back to school stuff this year
It’s costing more and more to send your little ones back to school. In all, spending on K-12 back-to-school supplies is nearly $25 billion. In the last decade, families have spent an average of 42% more on all the stuff for school, according to the National Retail Federation. This year, the average family expects to spend $630.36 on electronics, clothing and other school supplies for children in grades K through 12. That’s actually down from last year’s $669.28.
Yahoo Finance wanted to know where all that money is going and what, if anything, families can do to keep those costs down.
Staples’ president of North American stores and online, Demos Parneros says that while kids and their teachers may not want to think about school until closer to the start, parents are looking to have all that shopping done two to four weeks ahead of time.
For Staples, Parneros says, that means having stores fully stocked and ready to go by the second week of July.
Get the Latest Market Data and News with the Yahoo Finance App
According to the International Council of Shopping Centers, parents choose where to shop based on pricing, convenience, product quality, and selection. Hoping to capitalize on some or all of those desires, Parneros says Staples is ready with a 110% prime match guarantee. If parents or kids find cheaper supplies elsewhere Staples will match the price and give you a 10% bonus on top of that.
Office Depot / Office Max have a price match guarantee of their own (minus the 10% bonus) year-round.
Changing Trends
Yahoo Finance Senior Columnist Michael Santoli noted anecdotally that his middle school-aged child is preparing to use technology like Google Docs more than the traditional pen and notebook. While Staples’ Parneros admits that may be shifting in older grades, he notes younger students are still snapping up the items their parents got for back-to-school. Staples, Office Depot and Office Max are all ready for a pivot to technology however, stocking their stores full of computers and mobile devices to complement the more traditional supplies.
Still in search of saving a little extra cash this back-to-school season? Bankrate.com has some tips on how to trim your spending:
• Start your shopping at home
• Know what you want
• Actively seek out store-specific savings
• Wait to shop
• Shop on tax free days
For the full list in more detail, click here.
How much are you planning to spend on back to school this year? Any tips for where you save a buck? Post a comment below.
More from Yahoo Finance:
Paralyzed man walks again with bionic suit
Netflix shares rocket to a record high
Yellen focuses on wages but this is big for employers: Wealth manager
