articleChildren heading back to school means many U.S. parents are bracing for the financial impact of shopping for school supplies and other new gear. When looking at Gen Z and millennial parents, specifically, the figure jumps to 60% and 56%, the survey found. Inflation has created affordability challenges for many parents, with 31% saying they’ll be unable to afford back-to-school shopping for their kids . Saving on back-to-school suppliesOther research has found that, on average, parents nationwide spend $701 per child, per year, on back-to-school items. In order to save money, parents in Intuit Credit Karma’s survey said they’re turning to sales and second-hand shopping for their kids’ back-to-school needs in order to save money.