Some parents turn to gambling to afford back-to-school supplies for their kids: survey
A survey reveals parents use extreme measures like gambling and loans to afford back-to-school supplies.Summary
A survey of 2,000 parents conducted by Talker Research for Beyond Finance highlights the intense financial pressure of the back-to-school season. The study found that 8% of parents have resorted to gambling to afford school supplies, while others use pawning, loans, or credit cards. Many parents feel trapped by the social pressure to provide brand-name items to avoid their children being judged by peers.
This "back-to-school parent trap" leads to significant financial stress, with 70% of parents identifying this season as their most stressful time of year. To cover costs, many are sacrificing essential expenses such as dining out, savings, or even rent and mortgage payments. Experts warn that these pressure-driven purchases, often fueled by guilt and anxiety, can create long-term financial instability.
(Source：New York Post)