Far fewer parents this year said they can afford their kids’ back-to-school shopping without any issues, likely a result of rising inflation and the end of the pandemic stimulus checks.
Just 36% of the 2,178 U.S. parents surveyed said they can afford their kids’ back-to-school shopping, down from 52% last year, according to a recent Morning Consult survey, which also found that more than 37% of parents this year are stressed about back-to-school shopping – up from 32% last year.
Last year, parents benefited from stimulus checks and advance child tax credit payments, which have lapsed, and savings amassed during the pandemic.
