The average family with children in K-12 grades will spend a little less on back-to-school supplies this year, according to the National Retail Federation.
Families will spend about $630, down from $669 last year. The NRF says this may be due to people doing a harder evaluation of the true needs of their students returning to class.
“Parents this summer will inventory their children’s school supplies and decide what is needed and what can be reused, which just makes good budgeting sense for families with growing children,” NRF President and CEO Matthew Shay said in a release.
Total spending is expected to reach $24.9 billion this year. Adding in expected spending for college, the total is expected to reach $68 billion.
According to the NRF, back-to-school spending increased 42 percent in the past decade.