SALEM, Va. – Getting ready for the first day of school could be expensive this year with inflation hitting supplies, clothes, food, and more.
Dr. Alice Kassens, Director of Roanoke College’s Center of Economic Freedom, did research on the increasing household expenses, and found families are spending at least $500 more each month on all household expenses.
Virginia’s tax-free weekend, held from August 5 through August 7, could bring some relief to parents shopping for back-to-school items and Kassens said that the tax-free weekend could be busy because of the rising prices.
“Just seeing prices come down whether it’s because it’s tax-free or some sale because people are going back to school, it may just feel good to see prices come down and they may respond by buying it even though they may not have brought that item at that price last year,” said Kassens.
Shoppers are expected to spend $864 per household on back-to-school buys, according to the National Retail Federation – That’s $168 more than in 2019.
The National Retail Federation made these suggestions to save:
- Only buy essential school supplies,
- Stick to your list,
- Buy in bulk and split with others,
- Start shopping early,
- Buy expensive electronics second hand but make sure it has a warranty.