As the back-to-school season approaches, many parents in the DC region are feeling the financial strain of inflation impacting their shopping budgets. According to a recent survey, nearly one-third of parents are finding it difficult to afford the necessary supplies for their children this year. With inflation rates on the rise, prices for school essentials have increased, making it challenging for families to stay within their budget.
Natalie Kotlyar, a national practice leader of BDO’s retail and consumer products industry group, highlighted the impact of inflation on back-to-school shopping prices. Despite a slight cooling of inflation, the year-over-year increase of 3.0% in June has contributed to higher costs for families. Additionally, Samantha Gordon, a deals editor at Consumer Reports, noted that there are fewer sales this year, particularly on tech products like laptops, further adding to the financial burden on parents.
To help families navigate these challenges, experts have suggested various strategies to save money and make back-to-school shopping more affordable. One key tip is to start shopping early and take the time to research options and look for discounts. By planning ahead and spreading out purchases, parents can avoid the financial strain of buying everything at once.
Comparing prices is another important strategy to ensure that families are getting the best deals on school supplies. By leveraging retailers‘ loyalty programs, price-matching policies, and discount codes, parents can maximize their savings and stay within their budget. Waiting to buy certain items can also lead to bigger savings, as retailers often offer discounts in the months following the back-to-school rush.
Buying in bulk at wholesale clubs like Costco, BJ’s, and Sam’s Club can also help families save money on school supplies. By teaming up with other families to split costs, parents can purchase items in larger quantities at lower prices. Additionally, taking advantage of tax holidays in states that offer them can further reduce the cost of back-to-school shopping, especially for more expensive items like electronics.
For families looking to cut costs even further, experts recommend doing a quick inventory at home to see what items can be reused from previous years. By reusing supplies and shopping secondhand, parents can save money and make back-to-school shopping more sustainable. Ultimately, with careful planning and smart shopping strategies, families in the DC region can navigate the challenges of inflation and make back-to-school shopping more affordable for their children.