Posted by: John S Kiernan
Back-to-school season can be a bummer – not just for students, but for parents and their wallets, too. From binders and bookbags to tablets, computers and the latest clothes, there’s a lot to buy. So it’s no wonder back-to-school shoppers spend about about $81 billion per year, according to the National Retail Federation. And while there are lots of savings opportunities, deal-hunting can be stressful in its own right.
To gauge people’s feelings about back-to-school shopping, and thus learn more about the state of family finances, WalletHub conducted a nationally representative online survey of parents with kids in school. We asked about everything from their favorite back-to-school stores to whether back-to-school shopping is worth going into debt for. You can find the complete results in the infographic below.
| What are you most worried about after your kids graduate college? | |
|---|---|
| Debt | 34% |
| Job Market | 33% |
| Political landscape | 10% |
| Nothing | 10% |
| War | 7% |
| Starting a family | 6% |
| Do kids who attend private school have an advantage? | |
| Yes | 62% |
| No | 38% |
| Should students be paid for good grades? | |
| No | 52% |
| Yes | 48% |
| Is kids’ education worth going into debt for? | |
| Yes | 61% |
| No | 39% |
| Would you pay extra to have an armed security guard at your kids’ school? | |
| Yes | 59% |
| No | 41% |
| At what age should kids get their first credit card? | |
| 21 | 37% |
| 18 | 35% |
| 25 | 18% |
| under 18 | 10% |
| Do you expect to spend more, less or the same amount this back-to-school shopping season vs. last year? | |
| Same as last year | 47% |
| More than last year | 36% |
| Less than last year | 17% |
| Would you apply for a new credit card to save 5% on back-to-school shopping? | |
| No | 71% |
| Yes | 29% |
| Which personal finance topic does the average person need to go back to school for the most? | |
| Budgeting | 50% |
| Retirement Planning | 15% |
| Credit Cards | 13% |
| Investing | 13% |
| Mortgages & Loans | 5% |
| Banking | 4% |
| How do you decide when to do your back-to-school shopping? | |
| When I See Good Deals Advertised | 59% |
| Last Minute | 15% |
| When it’s Convenient | 14% |
| Based on Sales Tax Holidays | 12% |
| What is the best place to do back-to-school shopping? | |
| Walmart | 35% |
| Target | 18% |
| Amazon.com | 13% |
| Staples | 8% |
| Costco | 5% |
| Dollar Tree / Dollar General | 5% |
| Kohl’s | 4% |
| Old Navy | 4% |
| Macy’s | 4% |
| JCPenney | 2% |
| T.J.Maxx | 2% |
| Do you think that back-to-school deals truly exist anymore, or is they're just a gimmick? | |
| Yes, they still exist. | 64% |
| No, they’re just a gimmick. | 36% |
| What back-to-school deals are you most looking forward to this year? | |
| Clothing | 48% |
| Basic supplies | 40% |
| Tech | 6% |
| Sports equipment | 5% |
| Will your child have a credit card in his or her pocket on the first day of school? | |
| No | 85% |
| Yes | 15% |
Note: Percentages may not total 100% due to rounding.
from Wallet HubWallet Hub
via Finance Xpress
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