More Than 1/3 Cut Back Spending To Afford Back-To-School Needs

  • Rampant inflation is having more of an impact on middle-class families than ever, a new report finds.
  • In preparation for the upcoming school year, more than one-third of Americans have had to take from other parts of their budget in order to cover the costs of school supplies.
  • “Families consider back-to-school and college items as an essential category, and they are taking whatever steps they can, including cutting back on discretionary spending, shopping sales and buying store- or off-brand items, in order to purchase what they need for the upcoming school year,” Matthew Shay, National Retail Federation (NRF) president and CEO, said in a recent press release.
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