How much money are families spending on back-to-school?

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Friday, August 14, 2015

Back-to-school spending has been on the rise since since 2005, but families are trying to cut back in 2015.

According to a report published by the National Retail Federation, families are hoping to spend less on back-to-school items than they did in previous years.

The average family with children in grades K-12 plans to spend $630.36 on electronics, apparel and other school needs in 2015, down from $669.28 from last year. Surveyed families say that they are changing their spending their habits because of the economy.

Take a look at the infographics below to see what back-to-school spending will look like in 2015 versus previous years.

Back-to-school spending has grown 42 percent over the past 10 years.

Photo/National Retail Federation

Parents will spend most of their back-to-school money at discount stores vs. online or at thrift shops/resale shops.

Photo/National Retail Federation

Families will spend most of their back-to-school money on apparel and electronics.

Photo/National Retail Federation

Many shoppers will wait until just 1-2 weeks before school starts before purchasing supplies.

Photo/National Retail Federation

Families with students heading off to college plan to spend $126 on furnishings.

Photo/National Retail Federation

While children and teenagers require more supplies initially to start the year, college students will be the bulk of business for retailers.

Photo/National Retail Federation

You can read more about the survey at the National Retail Federation website.

What do you plan to spend on back-to-school this year?