(BPT) - The back-to-school season can be a time of relief for parents as children start to get back into the routine they know for most of the year. While parents may even get nostalgic for their own school days and remember the joy of buying a new outfit, lunchbox or locker decorations, some are facing new stresses. This year, rising cost of school supplies will be front and center as inflation continues to challenge how far the dollar will go.
The rising cost of school supplies
According to Morning Consult, 25 percent of Americans are expecting to spend more than $500 on school supplies this year. That’s over 3x the 7 percent of Americans who spent more than $500 in 2019. These purchases include folders, binders, planners, spiral notebooks, pens, pencils, erasers, highlighters, notecards, lunchboxes, clothing and more. While these items may not cost much individually, they quickly add up.
Tackle this back-to-school shopping season more confidently and make your budget go further with help from PayPal.
Save with PayPal Honey
Coupons, discounts and rewards can make shopping for school supplies less stressful and more affordable. However, you may not have the time or even the know-how to find all the available discounts and coupon codes that can bring down back-to-school costs. Even if you hunt down discount codes, you don't know if you're truly getting the best deal.
One way to get great deals on school supplies is by using PayPal Honey. PayPal Honey's mobile and desktop extensions automatically search for coupons and applies the best working ones at checkout. No need to scour the internet and apply each code individually, providing you with more time to spend with your child as they prepare for the school year.
Also, it helps find offers that can be redeemed for cash back, so you can shop smart and make your back-to-school shopping even more rewarding.
Enjoy flexible payments with PayPal Pay Later
With supplies costing more this year than in the past, you may feel the need to plan your budget in a way that spreads payments out over time — allowing you the flexibility to pay for school supplies, on a schedule that works best for you and your budget.
In these cases, choosing to pay later with PayPal helps give you the flexibility and choice you want for your back-to-school purchases and lets you spread payments out over time. This means you can stress less and ensure your child is prepared for their first day of the new school year no matter when and how you want to pay.
For purchases between $30-$1,500, you can select Pay in 4 and break the cost into four interest-free payments, with the first payment due at the time of purchase. For larger back-to-school purchases, Pay Monthly breaks the total cost into monthly payments over a longer period of time.
However you want to pay — now or later — shopping with PayPal gives you more ways to save, earn rewards, and pay later, helping to make your money go further this back-to-school season.
1. Eligible items only. Redeem points for cash and other rewards. Requires an account with PayPal in good standing. Terms and exclusions apply.
2. Pay in 4 eligibility varies by state. CA: Loans made or arranged pursuant to a California Financing Law License. GA: Installment Lender Licensee, NMLS #910457. RI: Small Loan Lender Licensee. Learn more at paypal.com/buynowpaylater.
3. Pay Monthly is subject to credit approval. Offer availability varies by state, merchant and purchase amount. PayPal, Inc.: RI Loan Broker Licensee. The lender for Pay Monthly is WebBank. Learn more at paypal.com/buynowpaylater.