School is back in session, and many parents and teachers have been feeling the strain in their wallets, outfitting kids for their first day or supplying and decorating their classrooms in preparation for the return of students. American Express’s annual survey on back-to-school spending finds that parents fork over an average of $1,151 for their children before school even starts — compared with $1,094 in 2013 and $867 in 2012.
A recent United Federation of Teachers (UFT) survey found that teachers are spending an average of $500 out of there own pocket each year purchasing supplies for their students.
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