Customers shop for back-to-school supplies at a Target store in Colma, California.
David Paul Morris | Bloomberg | Getty Images
As parents know all too well, it’s hard to cut back when it comes to the kids.
Despite more households living paycheck to paycheck, this year’s total back-to-school spending is expected to match last year’s record high of $37 billion, according to the National Retail Federation. Families with children in elementary through high school plan to spend an average of $864 on school supplies, $168 more than in 2019, the NRF found.
“Families consider back-to-school and college items as an essential category,” said Matthew Shay, NRF president and CEO.
A separate report from Deloitte found that 37% of…