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Parents spend record level on school supplies

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INDIANAPOLIS (WISH) — A new report, published by the National Retail Federation, predicted consumers will reach record levels of back-to-school shopping.

The study said parents are estimated to spend an average of $890 on their children in elementary through high school for back-to-school supplies. Some of the big items bought for the school year are laptops, tablets, and calculators.

Adam Young, a manager for Everwise Credit Union in Indianapolis, said this is a good way for parents to teach their students about financial skills.

“Track money every month, give your kid a budget, and do research,” Young said.

He said there’s a multitude of different price points for the same product.

“I’ll use a real life example of my daughter. She wanted a pair of shoes this year. She found a pair, sent me a link, and they were $150,” Young said. “Doing a little due diligence of where that product could be bought, we found the exact same pair of shoes for $90.”

Young said people will spend more money this school year because the cost to make supplies has gone up.