Back-to-School Prices Skyrocket. Here’s A Few Tips for K-12 Parents to Survive the Back-to-School Season.
Did you know that American families and college students are predicted to spend $103.5 billion on back-to-school shopping this year? According to the National Retail Foundation, this is the first year that buyers surpass the $100 billion mark compared to last year’s spending trends, which reported $88.8 billion in 2025.
Why Are People Spending So Much?
Electronics, clothing, shoes, and school supplies like glue sticks and pencils are facing the highest price tags in retail stores like Walmart, Costco, and Target. Shoppers are experiencing the brunt of school supply costs outpacing inflation. Pencils, crayons, and many other overseas produced supplies are directly impacted by rising fuel prices and tariffs. Although the start of a new school year is exciting, the price tag that comes with it is hefty. Small purchases matter more than ever and even erasers can impact your back-to-school budget.
What You Can Do
It’s important to track your finances closely, lock down your budget, and set spending limits. Here’s some tips for K-12 parents to keep in mind when it comes to school supplies and smart spending.
1. Back-to-School Expenses Are More Than Just Basics
Items like backpacks, pencils, pens, paper, and pencil cases are back-to-school basics, but they aren’t the only priorities on the shopping list. Additional expenses like clothes, technology, sports fees, transportation, and lunch can rack up that academic price tag without shoppers realizing it. It’s important to be prepared especially with the rising costs of groceries. Set aside separate funds for both basics and long-term school expenses.
2. Shop Your Home First
It might be tempting to buy brand new supplies, but if you have functional or extra basics at home, don’t be afraid to reuse them! Check last year’s backpacks, drawers, closets, and storage for simple items like pens, paper, and erasers. If your kids are used to new items coming with each new school year, it’s a good opportunity to explain the benefits of reusing until something must absolutely be replaced. Try separating your back-to-school list this year into three categories: need, replace, and want.
3. Determine What You Can Afford
Base your budget on what you can comfortably spend after bills and other household expenses have been determined. Note down your expected income before the first day of school, regular household bills, and any other upcoming expenses. Google Sheets is an excellent tool for budget-setting! There’s various budget template options available online for free. After determining what’s realistic for your spending limits, now you can set a proper budget for school supplies.
How We Can Help You
Finding yourself in a pinch even after planning and determining a safe budget? If you want to start the school year even stronger, WV Central is offering a special Back-2-School loan for parents! You can borrow up to $3000 over a 12 month term at 9.00% APR. Our Back-2-School loan comes with a special offer if donors provide school supplies before borrowing. Donors will receive 0.05% per item up to 10 items for a total of 0.50% off their APR rate.
WV Central offers Youth Savings Accounts for its members that promote financial literacy from a young age. Back-to-school season is an excellent time to start talking about financial literacy with your kids. Parents can offer their children a small fund for back-to-school shopping to manage a category of items such as pens, folders, accessories, and a backpack. Using that fund, they can determine how much to set aside for savings. Ask us about our KODA Youth Savings Account or teen checking accounts for more information!
Contact a representative today at your local branch to learn more about the Back-2-School loan or for financial assistance when it comes to surviving the back-to-school season. We have plenty of options and advice for our members.