The Real Deal: It's almost time to go back to school, but prices are higher. Here’s how you can save.
Ready or not, it's almost time to go back to school – but the prices are higher for everything this year. Caleb Silver, the editor in chief of Investopedia, breaks it down.
"Inflation is hitting us everywhere,” says Silver. “We spend money and it's going to hit us when we send our kids back to school in the fall. Lunch meats are up 18%, haircuts are up 6.3%, music instruments up 5.6%, and tuition and fees up 2.2%, especially for colleges. So, everything on the rise as you would expect."
Silver also said start shopping now because retailers are starting their sales. Sometimes it's hard to go shopping now because you don't know the teacher or have their specific list, but there are a few things you can get now.
MORE: 9 tips for smart back-to-school shopping from NYC's Department of Consumer and Worker Protection
Christina Leedy, of Scotch Plains, is getting a jump start on back-to-school shopping for her 1st grader Charlotte and Lucas, who is going into 6th grade.
“I have three kids, a house, a dog, a husband and somebody who eats 20 chicken nuggets at one time,” says Leedy. “Yeah, I love a deal.”
But she also loves nostalgia. That's why News 12 was at Baron's in Westfield.
“When I grew up in Westfield, I walked here every Friday after school with my friends and we went into the back and we picked out candy,” says Leedy.
Signing up for Rakuten before you shop can get you money back at major retailers. Target and Walmart already have marked down prices. Opt for generic pencils or plain folders instead of fancier ones to save a few cents.
“They need a lot of stuff and a lot of it they don't really use, and I wish that they would just recycle it back into the classroom and have it there,” says Leedy. “I don’t know, save the parents a little bit of money.”
There's another tip -- ask around to see who has some extra supplies.