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Parents to spend $1,064 on school supplies

Rochester, N.Y. New data shows that parents will spend a little over $1,000 on back-to-school shopping.

American Express Spending and Savings Tracker estimated that parents will shell out an average $1,094 on school supplies in 2013. This is an increase from $867 in 2012.

According to the survey, 50 percent of parents will buy electronics for their kids. A breakdown of the data shows that 25 percent of parents will buy laptops and 18 percent will buy scientific calculators.

13 percent of parents surveyed will buy their kids mobile phones in time for the school year.

And average of $102 will be spent on traditional school supplies such as notebooks and pencils.

Parents are paying less on paperback books, $193 compared to $265 in 2011, and more on eReaders, 7 percent compared to 4 percent in 2012.

Moms and dads will cut back on other expenses, such as dining out and travel, in order to make up for the higher costs.

You can read the full results here.

 
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