Most Not Saving Up For Back-to-school Purchases

The costs associated with shopping for back-to-school items can add up, and saving for this big event can help some consumers avoid unplanned debt.

However, a recent survey revealed that 64 percent of consumers have not planned to save money for back-to-school shopping, according to PriceGrabber.com. If costs go above what some expected, it's likely credit cards will be used to cover the expenses, which could lead to necessary debt relief later.

There are some people that are saving for back-to-school shopping. Almost 20 percent began putting money aside before April and 17 percent plan on doing the same by July, PriceGrabber.com said.

PriceGrabber.com president Laura Conrad said that "we are not surprised to see this new, optimistic trend of consumer frugality extend to back-to-school shopping. Further analysis of the data supports the idea that consumers are trying to absorb back-to-school spending in their monthly budgets by starting their shopping early to distribute their purchases."

In order to spend their money most efficiently, consumers should browse sales papers and websites for upcoming sales. This way they can find discounts and coupons made available for this shopping event.