Parents Spending Big on Back-to-School Costs

Parents anticipate higher back-to-school costs this year, according to a new survey conducted by Deloitte. The survey, released on Tuesday morning, revealed that most parents will pay more money on supplies and other items for their children.

Shoppers will need to find discount school supplies in order to slash expenses from the get-go, as a result of the upcoming expense.

Back-to-School Costs to Jump

The Deloitte survey revealed that nine in 10 parents plan to spend the same or more on back-to-school shopping in the 2012-2013 school year. Some expect to spend less than $100, but a large portion — 27 percent of shoppers — believe they will spend at least $500 to cover school costs this year.

A separate survey released in mid-July revealed that parents’ spending expectations are probably correct. According to the National Retail Federation, the average person with children will likely pay an average of $688 this school year, which represents a 14-percent jump from last year.

The increase in household back-to-school spending this year has been attributed to a hike in retail prices. Also, many parents expect to purchase more big-ticket items like phones and computers.

How to Shop Discount School Supplies

The Deloitte survey found that many parents plan to spend money at office supply stores, traditional department stores and specialty clothing stores, which can significantly hike the price of school supplies. Before you go out and spend your own money this year, consider seeking out discount school supplies that could spare your savings account.

• Shop at discount stores: Many dollar stores and thrift stores offer great deals on everything from school supplies to clothes. You could save hundreds on costs this year by taking advantage of discount outlets.
• Take advantage of coupons: Use printed coupons or online coupon codes to save on back-to-school costs.
• Buy items in bulk online: You may be able to find bulk items like paper, pencils, pens, paper clips and more right over the internet that can save you big. By buying in bulk, you not only can purchase enough supplies to last a full school year, but save on shipping if your items exceed a specific minimum cost.
• Shop on tax-free weekends: Many states offer tax-free weekends that allow residents to purchase school-related items like computers, clothing and other supplies without paying taxes.
• Browse social networks: Visit retailer social networking sites to see if they are offering discount school supplies or coupons on their pages.
• Use your smartphone: A number of apps on your smartphone can help you download discounts, coupons and sale information.

Also, look out for promotions that could reduce costs for back-to-school items. For instance, Staples is promoting paper clips and folders for a penny with a $5 minimum purchase, while Office Depot is selling packs of pens for a quarter this year.