A new survey shows that nearly half of parents will spend more than $200 on each child.
Despite inflation anxiety, parents are willing to go all out for their kids. This year, 45 percent of parents are willing to spend more than $200 per kid compared to 29 percent in 2021.
Debt.com polled parents on their back-to-school plans. Nearly 8 in 10 said they increased their spending because of inflation.
“While inflation means you’ll spend more for the same amount of back-to-school items you purchased last year, there’s also a psychological component,” Silvestri explains. “Consumers tend to actually buy more during inflationary periods – if they believe inflation will continue to climb. They figure they’ll actually save money by stocking up on nonperishable goods.”
Clothing is the number one thing families will be shopping for this back-to-school season. So now that pandemic concerns have taken the back burner, most parents are going to do their shopping in person instead of online.
Below are the most fascinating results of Debt.com’s 2022 Back-to-School survey.
Do you expect to spend more this year than last year, due to inflation?
How much are you planning to spend per child on back-to-school shopping this summer?
What do you think you’ll spend most on?
Do you plan to do most of your shopping online or in stores?
Do you plan on using any of these money-saving tactics when shopping?
More than 2 out of 3 parents surveyed have at least one child going back to school
1 out of 3 parents surveyed will spend more than $200 per kid going back to school
More than half of parents with kid(s) back to school plan to spend more this year than 2019, before the pandemic hit
1 out of 3 parents surveyed will spend more than $200
Of parents who will spend more this year, 3 out of 5 say clothing will eat up most of their budget
| Do you have children going back-to-school this year? | Percentage of respondents |
|---|---|
| Yes | 57.14% |
| No | 42.86% |
| How many children do you have in grades 1 through 8? | Percentage of respondents |
|---|---|
| None | 32.48% |
| One | 43.16% |
| Two | 17.52% |
| 3 or more | 6.84% |
| How many children do you have in grades 9 through 12? | Percentage of respondents |
|---|---|
| None | 52.36% |
| One | 40.77% |
| Two | 6.44% |
| Three or more | 0.43% |
| How much are you planning to spend per child on back-to-school shopping this summer? | Percentage of respondents |
|---|---|
| Nothing | 3.10% |
| $50 or less | 10.18% |
| $51 to $100 | 23.89% |
| $101 to $150 | 17.70% |
| $151 to $200 | 16.37% |
| More than $200 | 28.76% |
| Will you spend more this year than you did in 2019, before the pandemic hit? | Percentage of respondents |
|---|---|
| Yes | 52.44% |
| No | 47.56% |
| If yes, how much more will you spend this year compared to 2019, before the pandemic? | Percentage of respondents |
|---|---|
| $50 or less | 9.65% |
| $51 to $100 | 29.82% |
| $101 to $150 | 21.93% |
| $151 to $200 | 7.89% |
| More than $200 | 30.70% |
| What will you spend the most on? | Percentage of respondents |
|---|---|
| Clothing. I want my kid to feel and look special after a year learning at home. | 60.53% |
| Technology. My kid needs the latest laptop, tablet or smartphone. | 21.93% |
| Traditional school supplies like backpacks, trapper keepers, etc. | 17.54% |
Methodology: Debt.com surveyed 413 people and asked seven questions about how much they plan to spend on back-to-school shopping this year. People responded from all 50 states and Washington, DC and were aged 18 and above. Responses were collected through SurveyMonkey. The survey was conducted from July 30, 2021, to August 12, 2021.
Methodology: Debt.com surveyed 525 parents and asked them 10 questions about their back-to-school shopping plans. Respondents were at least 18 years old and from all regions across the country. Responses were collected through SurveyMonkey. This survey was conducted on July 26, 2022.