Inflation is throwing a wrench into families’ back-to-school shopping plans.
A survey from Credit Karma found that one in three parents can’t afford back-to-school shopping or would have to go into debt to cover the cost of school supplies.
However, a separate survey from Bankrate found that most families were feeling less financial pressure in 2024 compared to last year’s back-to-school season.
Families are expected to spend more than $40 billion on back-to-school shopping this year.
Is your back-to-school shopping done? What prices have changed the most?
