2nd September 2014
Parents spend around £200 per child ahead of the new school year, new figures reveal.
As retailers mark the end of the school holidays with “Back to School” promotions, many children will have that sinking feeling that comes with the start of a new term, but cash-strapped parents may also be fretting.
A third of parents say the costs of a new academic year place additional strain on their finances, according to a survey by Halifax.
School uniforms are the biggest cost, as 70 per cent of parents say they buy this new at the start of the school year at an average cost of £68 per child.
The typical cost of new shoes is £40, while a further £35 is spent on sportswear and £18 on a new schoolbag.
Around 10 per cent of parents also shell out on a new computer for their child, at an average cost of £204, while the same proportion of parents buy their child a new mobile at a typical cost of £127.
Parents who send their children to private schools are likely to pay almost double the amount on new school gear than those with children in state schools.
The average spend per child for a privately-educated student is £348.44.
However, there is some good news for parents this term, as personal finance will now be part of the curriculum for 11-16 year-olds , so they can expect to see more financial awareness and perhaps enjoy more sympathy from their teenagers as they grow to understand the value of money.