Back-to-School Costs Offer Families Money Lessons

Credit Union of Colorado encourages parents to use school shopping to teach budgeting, comparison shopping and smart spending

By North Forty News Staff | NorthFortyNews.com

Back-to-school shopping can put significant pressure on family budgets, but one Colorado credit union says the annual expense can also become a practical financial lesson for children.

Families preparing K-12 students for the new school year expect to spend an average of $858 on school-related purchases, according to the National Retail Federation. Those costs can include supplies, clothing, technology, transportation, activity fees and other expenses that extend well beyond the traditional classroom shopping list.

At the same time, Deloitte’s 2026 Back-to-School Survey found that economic uncertainty is changing how parents shop. Fifty-seven percent of parents surveyed expect the economy to worsen over the next six months, prompting many families to compare prices, switch brands, postpone purchases and search for additional savings.

Jessica McConnell, branch manager of Credit Union of Colorado in Greeley, said parents can use those decisions to introduce children to financial concepts they will encounter throughout their lives.

“Back-to-school shopping isn’t just about checking items off a supply list,” McConnell said. “It’s one of the best real-life opportunities parents have to teach children about budgeting, planning, making thoughtful spending decisions and understanding the difference between wants and needs.”

Turn Shopping Into a Financial Lesson

Credit Union of Colorado recommends families begin by reviewing supplies left over from the previous school year before deciding what needs to be purchased. Parents can then establish a budget and allow children to make age-appropriate choices within it.

Comparison shopping can become part of the lesson. Families can look at different brands, prices and promotions together and discuss why the cheapest item is not always the best value — or why paying more for a preferred item may require spending less somewhere else.

Parents can also distinguish between necessities and wants. Required classroom supplies may take priority, for example, while a more expensive backpack, lunchbox or clothing choice could require a trade-off elsewhere in the budget.

The credit union recommends accounting for expenses beyond supplies, including school clothes, lunches, activity fees, transportation and school pictures. Sales, coupons, loyalty rewards and store-brand products can also help families control costs.

Recognizing children when they find a good deal or stay within their spending limit can reinforce those lessons.

Deloitte found nearly one-third of parents qualify as “hyper value-seekers,” meaning they use four or more money-saving strategies while purchasing back-to-school items.

“Children learn financial habits by watching the adults around them,” McConnell said. “Every budget conversation, price comparison and thoughtful purchase helps build skills they’ll use throughout their lives.”

Those everyday conversations, she said, can eventually help children learn how to save, use credit responsibly and make informed financial decisions as adults.

For families facing another expensive school year, the goal may be more than filling backpacks. Making children part of the budgeting process can turn a necessary household expense into an opportunity to build financial confidence.

Source: Credit Union of Colorado; National Retail Federation; Deloitte 2026 Back-to-School Survey