It's back to school time and even if your kid is getting a free education, it's going to cost you.
According to a 2018 Deloitte study, additional expenses for elementary school students will cost on average $637 and for high school students those costs exceed $1300.
Technology, college prep, and athletic participation fees all factor into these costs, but where parents spend the most money is on new clothing.
According to a 2018 Backpack Index study, the average household will spend 72% of its back to school budget on clothes, leaving less than 30% for school supplies. Additionally, only 23% of parents will use their budget on computer hardware.
It is estimated that American parents will spend close to $25 billion on school clothes this year.