Ways to save money this back-to-school season as school supply prices surge
SUFFOLK COUNTY, Long Island (WABC) -- This back to school season, families are feeling a larger financial strain as they navigate buying supplies, clothing, and food items at increased costs compared to last school year.
Economic experts who study the costs of back to school shopping say that this year they expect an overall hike on school supplies that is astronomical -- an estimated 11%.
But some items are expected to go up by at least twice that rate, like notebooks, lunch boxes and index cards.
"On a typical basis, prices rise 2% to 3% per year and this is like five years of inflation rolled into one," Liz Pancotti from Groundwork Collaborative said.
The United Way of Long Island said they feel the increase in need already.
"People have come to us on August 1, where we've never really seen that," said Theresa Regnante.
They hope to put supplies in the hands of 10,000 kids, but if you're out spending on a budget, marketing experts at Tanger Outlets say there is still time to make the most of amazing August sales and on name brand items too.
They recommend layers from The Children's Place -- simple pieces for the bus stop which show personality. Each outfit is under $30 and won't break your bank.
"When times are good, people love a good deal, but when it's hard, they need a good deal," said Lisa Samperisi of Tanger Outlets Deer Park.
Still, experts urge parents to check at home first, instead of blindly buying because if the supplies ran about $160 last year, Pancotti said that list will run families about $175 this year.
Economists cite tariffs and increased fuel costs for the war in Iran as just a couple of reasons why prices are surging right now. And it's not just for things like clothing, shoes and classroom supplies.
Parents say food price have increased too.
"To stock a backpack with a typical list of school supplies, and to pack lunches for the school year, for one child, it will run families about $4,000 for the entire duration of the school year," Pancotti said.
Every family will sit down and make choices, but for some, who have the least...
"When the kids walk into school, you know, you want them all to be skipping and happy," Regnante said.
No matter how hard those families' choices this year may be.
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