Finance expert gives advice to parents shopping for school supplies while dealing with inflation

Published: Aug. 1, 2023 at 7:40 PM CDT|Updated: Aug. 1, 2023 at 10:34 PM CDT
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SHREVEPORT, La. (KSLA) - As school doors begin to open and you shop for the items your child needs, you might notice an increase in the price of those supplies.

Parents across the country are looking at supply lists and calculating their budget as they prepare to send their kids back to school. While it could bring lots of excitement, it may also cost a pretty penny.

Experts from the National Retail Federation (NRF) say with today’s inflated economy, American families are expected to spend a record breaking $41.5 billion compared to $36.9 billion last year.

Financial advisors suggest making a list to avoid overspending.

“You don’t want to put yourself in a bind. Try not to overspend. Make a budget and try to stick to it as much as possible,” Jennier Delcomyn, of Evans Financial Group, said.

Delcomyn also says rather than shopping for convenience, shop at stores that have the supplies you need for a low price. She also urges parents to not spend money on items that aren’t readily needed.

“Don’t feel the need of purchasing everything at the moment because it’s not always needed for the first day of school,” she advised.

Families across the ArkLaTex are finding different ways to save.

“We are a family of six. I have four kids, one daughter and three boys, so it’s nice that I can hold on to the gently used items from the older boys to pass on to the younger,” Shreveport resident Jaime James said.

While prices may be elevated this year, retailers have ensured that they are stocked with all your back-to-school needs.

Click here to find back-to-school shopping deals.