DAYTON — As the back-to-school season approaches, parents are looking for ways to save money on school supplies amid inflation concerns.
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A recent report from Bankrate reveals that nearly a third of Americans are reconsidering their shopping habits due to higher prices.
However, this is a decrease from 41% in 2022, when inflation was at its peak.
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“It goes to show that inflation is well past its peak. Wage growth has been outpacing inflation for the past two and a half years. People are feeling a bit better,” Ted Rossman, Senior Industry Analyst at Bankrate, said.
Approximately half of Americans are planning to use money-saving strategies this year, according to Bankrate.
One suggested strategy is to buy fewer items before school starts and wait for sales after Labor Day.
“Consider asking your kid’s teacher what do you really need on day one versus what can wait until later on because a lot of things go on sale after Labor Day. You can spread out your cash flow,” Rossman said.
Other money-saving tips include utilizing local ‘Buy Nothing’ groups, stacking discounts by combining store promotions with rewards credit cards, and using online shopping portals that offer cash back.
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