How Far Parents Go to Afford School Supplies
A survey of 2,000 parents found 70% feel pressured to match peers, while 14% already have back-to-school debt and 8% have gambled for supplies.
- Seven in 10 parents report back-to-school shopping is their most financially stressful event of the year, with the majority feeling caught in a 'back-to-school parent trap' due to pressure to match peers.
- Beyond Finance and Talker Research found 61% of parents purchased items to avoid their child being judged or left out, while 54% worry about peer judgment if they reuse old clothes or technology.
- While 14% of parents have already accumulated debt this year, 39% anticipate taking on more, with many sacrificing rent, mortgage, or savings payments to afford school supplies.
- Pressure-Driven purchases include a $1,200 MacBook Air and a $600 Coach wallet, while 8% of parents admitted to gambling to secure the necessary funds for school supplies.
- "Parents naturally want to protect their children from feeling left out, but comparison can quietly become one of the most expensive parts of back-to-school season," Erika Rasure, PhD, CFT, chief financial wellness advisor at Beyond Finance, said.
53 Articles
53 Articles
Appalachian News-Express
A new survey has revealed how far some parents go to be able to buy their children's school supplies. According to the survey conducted by Beyond Finance and Talker Research of 2,000 parents of school-age children, 8 per cent of parents have...
Parents Are Gambling & Selling Possessions to Pay for School Supplies
It’s back-to-school season, and parents are going to great lengths to afford the “right” supplies and clothes for their kids. Nearly one in 10 (8%), in fact, have gambled in attempt to make money for school supplies. That’s according to a survey of 2,000 parents of school-aged children conducted by Talker Research for Beyond Finance. […]
How far parents go to afford school supplies
From gambling and pawning possessions to taking out loans, a new survey uncovered the extreme lengths parents go to afford back-to-school supplies. The survey of 2,000 parents of school-aged children revealed that nearly one in 10 (8%) have gambled in…
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