MUMS and dads across the UK spend nearly £1.5bn on sending their children back to school – almost £200 per child.
It is a huge amount of money but by shopping wisely the cost can be cut back.
According to the latest research the bulk of the money is spent on footwear and clothing with shoes, jackets, sports kits and uniforms costing more than £100 altogether.
Technology such as tablets, school bags, sports equipment, lunch boxes, books and stationery all contribute to the cost.
Having such a big outlay at the end of the long school holidays can be a worry for parents, especially if they have more than one child and have already had to fork out for a holiday, day trips, ice-creams and other summer treats.
A survey for Nationwide found that nearly six in ten parents (59 per cent) worry about the costs. More than one third (37 per cent) dip into their savings and a quarter (25 per cent) turn to their credit card with others (11 per cent) asking their children’s grandparents to help them with the finance.
“Families are often under enormous financial pressure throughout the year, and particularly so when the kids are going back to school. As much as your children will get too big for their shoes, you don’t want your bills to outgrow your wallet,” said Larry Banda, Nationwide’s Director of Financial Planning.
“There are a number of ways parents can cover the costs by planning ahead as much as possible. These include snapping up bargains when we see them, or building a pot of savings. And with the survey showing a quarter of parents use credit cards we would always advocate making sure that you can afford the payments and to research the best deals for you – from balance transfers period and interest free purchase periods, to cashback offers”.
Savings can be made, for example, by buying online. There are some great Amazon discount codes available on school stationery such as crayons and pens. School bags, sports equipment, lunch boxes and a host of other necessary school items are also sold by the online retailer.
Discount codes are available via the link above and include 70 per cent off some electronics and 30 per cent off a variety of other items along with a free delivery voucher for those spending more than £20.
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