The Average Parent Expects to Spend $661 on Back-to-School Purchases. Will You?

Maurie Backman, The Motley Fool
·3 min read

Not only does it mean getting back into the grind of the school routine, complete with sports practices, PTO meetings, and a generally jam-packed schedule, but it also means having to spend a small fortune on essential supplies and apparel. Last summer, the Child Tax Credit was boosted and paid to parents in monthly installments that hit checking accounts from July through December. This year, however, the boosted credit is off the table at a time when inflation is driving living costs up.

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