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

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.

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

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

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

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

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

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?
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