How to save hundreds in back to school costs
A finance expert reveals how to save on school costs as new data shows how much parents are forking out for their children’s education.
Education
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Aussie parents are bracing for a back to school budget blowout that could cost them thousands of dollars before the school year begins.
New data by comparative website Finder revealed mums and dads could be forced to fork out $570 on textbooks, stationary and school uniforms for each primary school child ahead of term one, while the average cost of supplies for secondary school kids sits at $780.
On top of that, tuition fees, camps, equipment costs and excursions run the total bill footed by parents to $3,621 per primary school child, which almost doubles to $6,957 per secondary school student.
The national $20.3 billion back to school spend estimated by Finder comes just days after the Herald Sun revealed parents would be slapped with higher prices for popular technology items that would set them back an average of $320 per child.
While 56 per cent of parents believe they should not be footing their child’s school tech bill, Big W’s Back to School report found parents spent just $284 on technology per child in 2021.
But research by the Futurity Investment Group projected parents could be spending up to $462 per year on devices in primary school and $734 in secondary school.
Finder’s personal finance expert Kate Browne said parents dreaded the annual back to school shop off the back of an expensive holiday season amid the pandemic.
“It’s been a rough few years for Aussie families and for some the cost of textbooks, uniforms and laptops is too much to handle,” Ms Browne said.
“Many struggle to foot the back to school bill, hot on the heels of Christmas expenses,” she said.
Ms Browne urged parents around the country to crunch the cost of school fees, extra-curricular activities and supplies before finding ways to save on their total back to school bill.
“Start shopping early and look out for back to school sales. This can save you hundreds of dollars over the year, especially on pricey items like laptops,” she said.
“Avoid forking out on a new uniform every year by buying a few sizes up – it might look a bit large on them now but they’ll quickly grow into it.”