Back-To-School Finance Surveys

Beyond Finance Expands on the Back-To-School Parent Trap

Beyond Finance has released survey findings that reveal a widespread phenomenon termed the 'Back-to-School Parent Trap,' wherein American parents face intense emotional and financial pressure to purchase clothing, technology, and supplies for their children in order to prevent them from feeling excluded, often at the expense of their own financial stability.

Beyond Finance's research, conducted among 2,000 parents of school-aged children, indicates that 70% feel compelled to keep up with other families' spending, 61% have made purchases solely to avoid their child feeling left out, and nearly 40% expect to incur debt specifically to cover back-to-school expenses.

The 'Back-to-School Parent Trap' survey also calls attention to the emotional burden many experience, as 70% of parents describe back-to-school shopping as the most financially stressful period of the year, surpassing even the holiday season.

Open at source ↗