With back-to-school spending through the roof, many parents say they will reuse what they can from last year's supplies. It's that time of year again. The newspaper ads and TV commercials show perfectly dressed children with their new schools supplies dancing their way to school.
In reality, according to the National Retail Federation’s 2013 Back-to-School Survey conducted by Prosper Insights & Analytics, families with school-age children will spend an average $634.78 on apparel, shoes, supplies and electronics. Total back-to-school spending is expected to reach $26.7 billion. If you add in college students, the back-to-school spending total reaches $72.5 billion.