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Back-to-school spending to rise to $29.5 billion

Posted at 9:53 PM, Jul 24, 2017
and last updated 2017-07-24 21:53:15-04

(CNN/KATU) - If you're back-to-school shopping, plan to open your wallet. According to the National Retail Federation, families are more confident in the economy and will likely spend money on supplies this year.

Families shopping for kids in elementary through high school will spend, in total, $29.5 billion. That’s an 8 percent increase from last year.

The overwhelming majority of people will spend money on clothes, shoes and supplies such as backpacks and notebooks.

More than half surveyed said they will buy electronics this year, such as computers or calculators.

Students have a say in what they are going to bring back to their classrooms, with 66 percent of parents buying what their kids want.

But it’s not just the parents footing the bill. Teens say they are willing to contribute nearly $40 for the supplies they want.

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