CHARLOTTE, N.C., Aug. 7, 2019 /PRNewswire/ -- For millions of
parents, back-to-school shopping is dreaded even more than holiday
shopping, and about a third of shoppers said it's both more
stressful and more expensive, according to a new report from
CompareCards by LendingTree.
With the new school year fast approaching, CompareCards asked
Americans about back-to-school shopping and found the end-of-summer
ritual drives stress, debt and parent-child arguments – and many
think their costs will only increase.
Key findings
- 36% think back-to-school shopping is more stressful than
holiday shopping, and 32% said it's more expensive.
- 23% said back-to-school shopping has at least somewhat damaged
their relationship with their child.
- More than a quarter of shoppers expect to go into debt because
of back-to-school shopping, and most will not be able to pay off
that debt quickly.
- Half of back-to-school shoppers plan to spend more this year
than last year. On average, shoppers expect to spend $428 on back-to-school shopping this year.
- 43% are stressed about how they will pay for back-to-school
shopping.
"With parents collectively spending billions of dollars on their
children's back-to-school shopping needs each year, it's no wonder
the end-of-summer ritual takes a toll on wallets, emotions and even
relationships," said Matt Schulz,
Chief Industry Analyst at CompareCards. "While it's unlikely
shoppers can completely eliminate all stress from the
back-to-school season, careful planning and savvy shopping goes a
long way. Shoppers can set boundaries and budgets before heading to
the mall, use credit card rewards and sign-up bonuses
strategically, and comparison shop for the best deals. At the end
of the day, back-to-school season happens just once per year, and
soon enough the chaos will be over, so breathe, Mom and Dad. You've
got this."
To view the full report, visit
https://www.comparecards.com/blog/back-to-school-shopping-study/.
About LendingTree
LendingTree (NASDAQ: TREE) is the
nation's leading online marketplace that connects consumers with
the choices they need to be confident in their financial decisions.
LendingTree empowers consumers to shop for financial services the
same way they would shop for airline tickets or hotel stays,
comparing multiple offers from a nationwide network of over 500
partners in one simple search, and can choose the option that best
fits their financial needs. Services include mortgage loans,
mortgage refinances, auto loans, personal loans, business loans,
student refinances, credit cards and more. Through the My
LendingTree platform, consumers receive free credit scores, credit
monitoring and recommendations to improve credit health. My
LendingTree proactively compares consumers' credit accounts against
offers on the network, and notifies consumers when there is an
opportunity to save money. In short, LendingTree's purpose is to
help simplify financial decisions for life's meaningful moments
through choice, education and support. LendingTree, LLC is a
subsidiary of LendingTree, Inc. For more information, go to
www.lendingtree.com, dial 800-555-TREE, like our Facebook page
and/or follow us on Twitter @LendingTree.
About CompareCards:
CompareCards' mission is to help
people make smarter, more informed, healthier financial decisions
based on deeper knowledge of financial offers. Each month, over 2.9
million visitors come to CompareCards' website to independently
compare credit cards side-by-side and choose a credit card based on
interest rate, reward benefit, cost savings, and other factors that
are important to each person. CompareCards provides easy-to-use,
objective tools and educational resources that help people do
everything from making credit card comparisons to managing their
credit health. For more information, please visit
www.comparecards.com.
MEDIA CONTACT:
press@comparecards.com
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SOURCE CompareCards