School is back in New York State and many parents are paying for their kids’ clothing, backpacks, and supplies. A new survey from badcredit.org shows how families covered those costs while protecting children from money worries.
Parents Hide Their Money Stress
The survey found that over 70 percent of parents hid school shopping stress from thier children. Some waited to buy items, chose cheaper products, or said something was unavailable. Others gave up something they wanted so their children would not go without.
Some Families Delay Paying The Bills
Nearly half of parents said school costs caused them to delay paying a bill or give up household necessities. Fifteen percent cut back on groceries, while 7 percent delayed medical or dental care.
Parents Took On More Work
More than half of parents worked overtime or took a side job to cover school expenses. Forty percent worked overtime and 27 percent took another job.
Credit Cards Helped Cover Costs
Thirty-five percent used a credit card they could not pay off right away. Another 30 percent borrowed money for school costs. Clothing created the most pressure, followed by supplies, technology, sports, and activities.
The Pressure Continues After School Starts
New York students are back in class, but the bills still have to be paid. Parents could be paying credit card balances or catching up on delayed expenses. The study included over 1,000 U.S. parents with children ages 6 through 18. It shows that getting children ready for school can affect a family budget after the first bell rings.
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Gallery Credit: Billy Jenkins
A+ Accessories for Back to School
As summer comes to a close, students, teachers, and parents alike all prep for the start of the new school year.
Whether you’re still learning remotely or are back in the classroom, these accessories are here to get you prepared and help you have the best school year yet!
Here are 12 A+ accessories to elevate your back to school experience…
Gallery Credit: Olivia Sturgell