New Study Shows Parents Plan to Spend Less on Back to School

Flyers, online ads, and entire sections of our favorite stores are devoted to it for the second half of summer. I'm talking, of course, about back to school shopping. But according to a new Deloitte survey, parents are planning to spend quite a bit less this year.

Parents say they plan to spend an average of about $430 dollars instead of the $600 they did last year. The study also found that consumers are more confident about the economy, even though the dip in back to school spending dollars families plan to spend doesn't suggest it.

If you're one of the many parents trying to cut back on back to school spending, there are some things you can do.

Don't be afraid to shop online. The price of back to school items online changes constantly, so check back frequently, but don't buy until you see a price you like.

Consider using leftover or gently used school supplies from last year. We often throw them away without seeing if they are still usable.

And most importantly, if you haven't done your shopping yet, go now.

"Bottom line is... shop early. If you can, go out in July versus August. You can save about $170 across all of your back-to-school purchases," said Shauna Causey, with shopping website Decide.com.

Kids may not want to go back to school shopping just yet, but it's better for parents' pocket books.

The survey also found that the biggest spenders during back to school shopping are the parents of college students. They spend closer to $1000, rather than around $500. Some experts say we could see stores cater more to those parents than the parents of younger kids.

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