Back-to-School Supplies Rise In Cost
Although it's still summer, before you know it, it will be back-to-school time. And with back-to-school time comes back-to-school shopping. And, with parents tightening up their budgets, those school supplies can be pricy. Unfortunately, according to a survey by the Huntington Bank Backpack Index, those back-to-school supplies aren't coming down in price.
School supplies have made a price jump from last year to this year. According to the survey, elementary school supplies cost $474 last year. This year, supplies have increased by 12 percent to $530. And, according to the numbers, a 12 percent jump isn't even the worst of it.
For those buying back-to-school supplies for a child in middle school, costs have risen 25 percent from last year. In 2010, school supplies for middle school children cost $545. This year, it has increased to $681.
How about the cost of school supplies for high school students? According to the Huntington Bank Backpack Index survey, a pricey $1,000 was spent on back-to-school supplies for high school students last year. This year, there has been a 9 percent increase in price, making it $1,091 for the supplies.
What do you do to save money on school supplies? How much do you spend each year?