Back-to-school shopping is becoming increasingly difficult for families this year, with a stress level rising due to escalating costs. 39% of parents can no longer afford these purchases and 44% will incur debt for school supplies. More than half of parents will sacrifice groceries to fund necessary school items. 45% have cut back on extracurricular activities, and 32% are reconsidering work hours for after-school care. A significant concern is the rising prices, which 60% of parents cite as causing budget difficulties this year.
"Back-to-school shopping can place a significant financial burden on families, often leaving them with little choice but to stretch their budgets," Alev said.
More than a third (39%) of parents said they can no longer afford the back-to-school shopping trip, highlighting increased financial strain this year.
According to the report, 54% of parents say they will need to sacrifice on essentials like groceries to get their children the necessary school supplies.
44% of parents indicate they will take on debt to pay for school supplies, up from 34% last year, indicating worsening financial pressures.
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