Breaking the Bank? Parents are Spending $245 on Back-to-School Shopping

We are in back-to-school season which means back-to-school shopping. It's time to get all the essentials so your kids are prepared and ready for the new school year. But do you find that its costing you more than expected?

A survey, on over 1,700 parents, found that, on average, parents are spending around $246 on back-to-school shopping.. and that's on EACH kid, between the ages of 4 and 16.

The majority of the money is going towards new clothes and shoes ($132). The rest breaks down between:

• School supplies/backpack/lunch box: $47
• Technology: $34 (surprisingly, less than I thought)
• Sports equipment: $33

Research also found that the majority of parents worry about money during school season even more than the holidays.

Some parents will even turn to their own parents to help with the costs.

Does the average sound right? How much are you spending on back-to-school shopping?

SOURCE: The Daily Mail