Plan Ahead. Get Ahead. > Managing Your Money > Budgeting
Back-To-School Budgeting
Spending on clothing, supplies and other items now tops $550 for the average American family sending kids back to school, according to the National Retail Federation. The group's 2007 survey showed that the average family planned to spend $563.49.
Here's where the money went:
- Apparel: $231.80
- Electronics and computer-related equipment: $129.24
- Shoes: $108.42
- School supplies (including notebooks, backpacks and lunch boxes): $94.02
Many experts recommend that parents use the back-to-school season to educate their children about money management. Create a list of needed items, establish a budget and let children know they must adhere to it as they shop for back-to-school items.
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How much are you spending? Take time to gather your records and make a budget. Our budgeting calculator can help you get started.
