Tuesday, August 12, 2014

Paying for the Three R's

If you've got kids headed back to school this month, you know one of the most painful activities parents have to go through: back-to-school shopping. And it's gotten a bit more painful this year, as the cost of equipping our children for school keeps going up.

According to the National Retail Federation, parents expect to spend an average of $669 getting their kids ready for school this year, including new clothes, school supplies, and electronics. That's up 22 percent from five years ago.

The bulk of that money goes to clothing, accessories and shoes. The average shopper will spend $231 on back-to-school clothes this year, and another $125 on shoes. That person will spend roughly as much - $212 - on electronics items as they spend on clothes.

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