SALT LAKE CITY — We’ve been hearing that back-to-school shopping is more expensive this year. So, I took a local classroom’s list to Smith’s to see for myself.
People are out spending more money than this time last year.
But, there are some lasting effects of the pandemic.
Zions Bank Economist Robert Spendlove points out that there are still shutdowns in parts of the world.
That means Utahns are paying more for school supplies this fall.
The national retail federation says spending is expected to reach an all-time high, with families shelling out an average of about 850-dollars, nearly 60 dollars more than 2020.
Spendlove says a worldwide chip shortage has had a major impact on production, starting with the auto industry.
He warns that your holiday shopping list will likely be more expensive this year too.
So what can you do to save money?
Put together a budget, look online for deals, and don’t wait.
Also, involve the whole family, and make it a learning opportunity.