FORT WORTH, Texas — With the first day of school just hours away at Fort Worth ISD, parents rushed to finish last-minute back-to-school shopping on Sunday evening.
As families grapple with record-high inflation, buying school supplies for the new school year is painful.
Kysha Hall, a Fort Worth resident, told WFAA she tried to find ways to save money on school supplies for her children.
“I did it for tax free weekend, and I did save a lot of money,” Hall said. “Everything is expensive, between gas and groceries, every little bit helps.”
As inflation continues to rise in North Texas, the National Retail Federation (NRF) is projecting that about one-third (38%) of consumers said they are cutting back in other spending areas to cover the cost of items for the upcoming school year.
NRF estimates total back-to-school spending this year will match 2021’s record high of $37 billion.
Families with children in elementary through high school plan to spend an average of $864 on school supplies, $168 more than in 2019. Despite inflation, NRF found spending on essentials remains strong.
Financial expert Derrick Kinney told WFAA that these days, affording the basics means people have to make adjustments.
“Often it comes down to taking away some of those extracurricular activities to get the school supplies they need, which takes away from that holistic experience so many parents want their kids to have,” Kinney said.
It’s a new school year that’s forcing some parents to make tough sacrifices as they prioritize needs above wants.