Higher prices for retail goods, gasoline influencing back-to-school spending
Released on 07/25/2008, at 2:00 AM
Office of University Communications
University of Nebraska–Lincoln
To save money on back-to-school items, parents need to find out the difference between their children's needs and wants, said Kathy Prochaska-Cue, University of Nebraska-Lincoln Extension family economist.
"Going back to school is a good opportunity to help children learn about wants and needs and help them learn that there are limits on spending," she said.
American families spend an average of more than $500 per child per year to get them ready for K-12 education, according to a National Retail Federation study.
Parents may also have to decide how many activities their children can participate in. Prochaska-Cue said many children and teenagers are overextended by participating in too many activities and may need to scale back.
"I think that's going to be one of the positives with higher gas prices," she said. "Parents and children may make decisions and decide to scale back or cut down on the activities the child is involved in. They need to have some down time to relax."
Prochaska-Cue said parents should consider carpooling to alleviate higher fuel expenses.
"I think we'll see more of that, particularly as the price of gas goes up," she said.
Students may rely more on walking or bicycling, Prochaska-Cue said, and if he or she lives far enough away, the student could also take a school bus when possible.
Food is a large expense for students as well. Alice Henneman, UNL Extension educator in Lancaster County, said parents should take a good look at how they are spending their money on nutrition. She said parents have the most control over food choices for their family.
"That affects not only nutrition," she said. "It also affects the amount of money that is spent."
With food becoming more expensive, Henneman said, parents should buy fewer convenience foods and more nutritious foods.
She also said school lunches can be both more convenient and less expensive than packing a lunch.
"School lunches are actually a cheap way of feeding kids," Henneman said. "I think that's something that people forget sometimes."
School supplies and new clothes are often a must for students getting ready for school. Prochaska-Cue said buying supplies throughout the year when items may be on clearance can help a family stockpile and not have to worry about buying everything at once.
She said the same goes for new clothes. Look for sales, clearances or even garage sales to find cheap, sustainable clothing, Prochaska-Cue said, and use a swapping system with neighbors or relatives to help cut down on costs.
She said giving older children an allowance to buy food or clothing for themselves can help them make their own decisions about how they should spend money.
"For most children," Prochaska-Cue said, "the child's wants are going to outstrip their ability get everything they want." She said allowances allow children to figure out what is important for them to buy.
UNL Extension is part of the university's Institute of Agriculture and Natural Resources.
News Release Contacts:
- ahenneman1, Retiree UNL, Retirees
phone: 4024417180 - kprochaska-cue1, , Child, Youth & Family Studies
phone: 4024722397