The first day of school is rapidly approaching and parents up and down the country are heading to the shops or online to purchase the school basics for their children. So how much will we all spend? Brace yourself…
We’re set to spend £736 million this year, according to the Cost of a Child study by protection specialist LV. This means that the average family will spend around £77 on each child. Back to school basics include uniforms, stationary, sportswear and school books.
The costs of school basics for infants children is £63 per child, compared to £67 for junior schoolchildren. The cost rises further, to £81 per child, for secondary schoolchildren.
In order to reduce costs, 53% of the 2,000 parents in the study are considering using low cost suppliers, such as supermarkets, for their back to school items.
“Parents are under a great deal of pressure to spend significant amounts on kitting their kids with the latest bags and coats, and brand new uniforms and stationery,” said LV’s Mark Jones.
“It’s easy for these costs to mount up, although we can see that parents are attempting to be frugal. This is why it is important that parents try and look beyond the short term and ensure they have suitable budgets and long term financial plans in place,” Mark added.
Check out our budget buys for school this year, which will hopefully make your life easier (and cheaper!):