Back to school spending: How much is too much?

TORONTO, July 23, 2015 /CNW/ - Whether you're a student or a parent, it's easy to get overwhelmed by back to school shopping.

Between new fashion trends, the latest must-have gadgets, and the essential items like books and backpacks, it's easy for parents and students to go overboard when faced with the daunting task of back to school shopping.

While students may be the ones hoping to make a lasting impression, parents are often the ones hoping it doesn't impact their wallet.

This year, the average Canadian student (or perhaps more aptly, their parents) plans to spend roughly $500 on back to school related purchases. A recent study in the United States found that roughly 30% of parents with school age children planned to spend more on back to school shopping this year.

Luckily, one of the simplest ways to avoid overspending at this time of year, is to make a list of everything a student wants for back to school, set the priorities, and make a budget.

It's also helpful when you can do your research. If you can, try and plan out what you're going to need beforehand. Cadillac Fairview has a mobile app for each of its 20 shopping centres, perfect for pre-planning, and inspiration of on-trend fashion for the back to school season. Visit cfshops.ca to find the closest Cadillac Fairview mall to you and download the app.

Try and pick versatile items. It can be something as simple as a pair of pants that works with multiple tops, or maybe instead of getting both a new tablet and a new mobile phone, your student can make do with a large screen mobile phone, also known as a "phablet."

Being versatile also ensures that not every piece in your wardrobe needs to feature a designer label. Try the high-low approach, of pairing a designer piece – like a jacket or perfect pair of jeans – with less expensive staple pieces to ensure a dynamite look without a devastating price tag. With the high-low approach, you can add new designer pieces to your wardrobe all the time, giving you a number of different outfits with each new purchase.

August is the third busiest shopping month of the year, and can be a stressful time for student who want to look their best, and parents who want to make their kids happy. But with a little careful planning, parents can take the stress out of back to school, and ensure every student looks and feels their best for when classes kick off in September.

SOURCE Cadillac Fairview