The Back-To-School Money Trap Is Worse Than You Think

A new survey of 2,000 U.S. parents highlights how “back-to-school” spending can be driven by emotion as much as budgeting. With school restarting, 70% said they feel pressure to buy the same clothes, tech gadgets, and school supplies as other families. Nearly 40% expect to take on debt to cover this year’s costs, while 23% say they may delay saving for the future. The report argues the issue isn’t simply a lack of budgeting knowledge: 61% bought items so their child wouldn’t feel left out, and 74% said they feel guilty when they can’t provide everything. The piece advises financial professionals to ask whether spending reflects true priorities or social pressure.