Going broke on back to school?

Well, here we are barely half way through August and it all starts. The commercials, the sales...yep, it's once again BACK TO SCHOOL time! So how much are you planning on spending on the kiddos this year? This has proven to be a major stress factor for moms and dads!

  • According to Yahoo Finance, parents expect to spend $507 for the new school year. That's an increase of $40 from last year.
  • Parents are spending a little more than $200 on clothes
  • A little more than $200 on electronics
  • And about $100 on shoes

(Um, what about pencils and notebooks?)

So, is this about par for what you're planning on spending for back to school? Can you say "hand-me-down"?

Photo: Getty

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