15 January 2019
More than sixty percent of Aussie parents admit to feeling stressed in the lead up to the new school year, according to a new survey on back to school spending.
The 2018 Heritage Bank Back to School Survey, released today, asked parents from all over Australia to share insights about the costs of preparing kids for a new school year.
Over 1500 people took part in the survey which uncovered some interesting results about how much parents are shelling out to send their kids back to school.
According to the survey, Aussie parents are spending $476 per child on back to school costs on average. Across the states, the hip pockets of Victorian parents are hit the hardest at around $553 per child, followed by Queensland parents at $487. Meanwhile, parents in New South Wales are spending the least, averaging $430 per child.
The highest costs were for school uniforms ($167) and books ($117), with sports and musical equipment ($87) rounding out the top three.
Interestingly, the survey also uncovered boys are on average more expensive than girls to spend back to school. The biggest impact came from extracurricular activities – with music and sporting equipment costing around $12 more for boys.bac
“The cost of sending kids to back to school can add up very quickly,” Heritage Bank CEO Peter Lock said.
“Not only are there the initial costs of uniforms, bags, books, stationery and school fees, but also ongoing expenses like lunches and transport – it’s no wonder a lot of parents are feeling the pinch.”
Mr Lock said that besides providing some good insights, the survey was also a great prompt to encourage parents to look at ways to save money not only for the start of school, but all year round.
“Whether it’s something as simple reusing items you may already own, only buying the essentials, or keeping an eye out for sales throughout the year, it’s important to factor school spending into your overall budget to help lessen some of the financial pressure.”
Want to find out how back to school costs compare across Australia? View the results of the 2018 Heritage Bank Back to School Survey.