SALT LAKE CITY – We heard that back-to-school shopping is more expensive this year. So I took a local classroom list to Smith’s home to see for myself.
People are spending more money than they did at this time last year.
But there are some sustained effects from the pandemic.
Zions Bank economist Robert Spendlove points out that some parts of the world are still standing still.
That means that Utahns will pay more for school supplies this fall.
The National Retail Association says spending is expected to hit an all-time high, with families spending about $ 850 on average, nearly $ 60 more than in 2020.
According to Spendlove, a global chip shortage is having a major impact on production, starting with the auto industry.
He warns that your Christmas shopping list is likely to get more expensive this year too.
So what can you do to save money?
Put together a budget, search for deals online and don’t wait.
Get the whole family involved too and make it a learning opportunity.