Back to school expensive for parents

Back to School Sign Pictures, Images and Photos This is a time of year that parents are happy that their kids are going back to school and will give them a bit of a break at home. It is also a time of stress for those parents because the back-to-school season means new expenses of $324 (in Canada), according to an article in the Toronto Star (click here to read it). This is per child and most households have more than one kid. For many families that live paycheck to paycheck this is a lot of money to have to spend in such a short period of time. The article also mentions that parents are expecting additional expenses related to school like field trips and other things to be over $400 over the course of the upcoming school year.

Back to school is the most important time of year for many businesses. Shopping malls are generally packed and stores are ultra competitive to get their share of parents’ $324. This affects the economy in a positive way because so many businesses are helped by this increase in spending. However, for the parents this is something that causes anxiety and stress. Fortunately, it is also a time where businesses (like the ones parents work at) are hiring more than they are firing because they are ramping up for the Christmas season or the 4th quarter, in business speak. Overall, it is a necessary evil for parents and it shows that although capitalism isn’t perfect, it is the best system we have.