A new study from American Express reports that while parents say they won't scrimp on what kids need to start the school year, it won't be painless: They'll cut back on restaurant spending,
entertaining, and their own clothing.
The average family of four expects to spend $800 on back-to-school shopping. But 67% say they will make financial trade-offs to cover it, including dining
out less (53%), spending less on entertainment (39%), and buying fewer clothes for themselves (37%).
Clothing is expected to be the largest expense, at $290, with another $110 for shoes and $100
for school supplies. (Many parents say they are forking over more for these, as schools cut back on what they provide to kid.) But braces (at about $2,000) and new computers and laptops ($830) are
also on many parents' minds.