The Rising Costs of Back-to-School: How Families are Spending More in 2023/2024

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Good Saturday, Icons,

We are back with a bonus weekend newsletter for you as we keep you up-to-date on all things going on in life, love, marriage and family.

We won’t keep you long, we just found some news we wanted to relay to you as we start off the new 2023/2024 school year.

As we know, each year parents have a lot of shopping to do to send their kids back.

But have you looked at the numbers? We have information for you so you can make informed decisions for your social empire.

The Rising Costs of Back-to-School: How Families are Spending More in 2023/2024

Every year, the National Retail Federation puts out information about the American family spending habits going into the next school year.

They divide these finds up by K-12 and college students returning in the fall.

This organization has been tracking these shopping trends for 20 years now or since 2003 to allow parents to make decisions that best for them and their children.

“Families consider back-to-school and college items as an essential category.” NRF President and CEO Matthew Shay

This means that there is a way to see how much we actually spend on sending our kids back to school.

The National Retail Federations is a resource that parents can use when making decision for shopping habits for their family within school and beyond.

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Homeschooling parents may spend more or less depending on how their own homeschooling programs, religious institutions and/or co-ops tend to set everything up.

Total back-to-college spending is expected to reach nearly $74 billion, up from last year’s record of $71 billion and the highest in the survey’s history. More college students and their families plan to shop this year compared to last and anticipate spending an average of $1,199 on college or university items, consistent with last year’s record of $1,200. Since 2019, total expected spending on back-to-college has grown by $19 billion and consumers are spending $223 more on average than they were prior to the pandemic. Nearly half of this increase comes from spending on electronics and dorm or apartment furnishings. (Source)

The majority of back-to-college, back-to-school spending focuses on electronics.

Whether new phones, tablets or laptops, electronics tops the list at expected speding at $15 billion!

Parents are in for higher prices now due to inflation and the federal reserves moves to ease the pain to our wallets.

A majority (68%) of survey respondents said they have seen higher prices on school items. Clothing and accessories and school supplies were among the top areas where consumers have noticed higher prices. NRF | Families Prioritize Back-to-School and College Spending Amidst Rising Inflation

It will behoove you that if you have some back-to-school shopping to do to watch out for discounts in-person and online to save you some cash.

Many states have “Tax Free” weekends and deals to ease the burden of paying.

Importantly, on average parents are expected to pay $800 for their k-12 students while college students are up to $1300 this year.

That’s a lot.

Look on your school’s website for the shopping list for your child’s grade level so you don’t waste money on unnecessary items.

We pray that each and every child/college student has a wonderful year and want to put parents and families on notice to what is going on.

We at Iconic Media will let you know of current events, data or anything that might empower you while building your Iconic household.

And in everything you do, be Iconic.

Iconic Media’s Back to School Drive

In GA, kids are ready to go back to school next week. We are a marriage/family-based organization and realize this is an important time of year for parents.

We want to raise $1500 to help get school supplies out to families in our local area.

Iconic Media does online and offline work to help empower families.

Support today with $10 or more and get on the Pre-order list for our latest eBook dropping this Sunday!

“Don’t Give UP: A Guide to Help You Navigate Modern Marriage and Win” as a thank you for your contributions.

Marriage is not easy, but it is doable.

Most times we don’t have the right resources, the right upbringing or just choose the wrong partners and that is why relationships fail.

My husband and I boiled down our relationship to a single ideology that has kept us together for 12 years through a lot of unforeseen circumstances that we have pushed through; we never gave up.

In my latest eBook, “Don’t Give Up: A guide to Help Navigate Modern Marriages and Win” I discuss key important factors to help you win and build a social empire that lasts.

Many organizations, media outlets and political figure heads will talk all day about the need for wholesome families, intact homes and marriage.

Yet, where do people go for realistic help in navigating the craziness that dominates our media, our content and our society?

Iconic Media is here.

And we need your help immediately. Kids will need to supply purchased and given out to them soon.

The fastest way to get the supplies and hand them to the kids will be to get this funded.

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