For better or worse, back-to-school season is just around the corner. Aside from worrying about teachers, activities, and a new routine, moms are also stressing big time about one thing: school supplies. In a report done by Bankrate, more than 2,600 adults were polled and 20% of them said buying new school supplies is putting a strain on their budgets.
Impending tariffs are at the heart of this concern. President Donald Trump’s initial “liberation day” that promised to impose a 10% baseline levy on practically all countries and higher duties for select nations was initially set for April 2 but was postponed to the upcoming August 1 deadline.
Families with kids in elementary through high school are planning to spend an average of $858.07 on supplies, according to the National Retail Federation, which is down $16.61 from last year.
Still, an Intuit Credit Karma report separately found that 39% of parents claim they can’t afford supplies, with 44% of them saying they’ll be taking on debt to cover costs.
According to CNBC, those fears aren’t unfounded. Many school supply essentials are 20% more expensive than they were pre-pandemic.
“Consumers are being mindful of the potential impacts of tariffs and inflation on back-to-school items, and have turned to early shopping, discount stores, and summer sales for savings on school essentials,” Katherine Cullen, NRF’s vice president of industry and consumer insights, shared in a statement.
To save money, parents are prepared to shop early, go for more generic brands, and hunt sales doggedly. Ideally, if parents can do this before August 1, they may be setting themselves up for more success.
