More than half of parents would go into debt to help kids fit in at school: Study

Back to school season is in full swing and for many that used to mean new notebooks and maybe a trip to the mall if you were lucky

But these days some kids are showing up dressed like it's New York Fashion Week

But here's the thing, a new study shows many parents are willing to go into debt to make it happen to not disappoint their kids

Okay guys, welcome to my back to school. I remember the feeling, making sure my outfits were on point for returning to school

And with the power and pressure of social media, kids everywhere are posting their back-to-school outfits

with most being right out of designer stores. Time out. I do not mean to pocket watch, but let me give you a quick breakdown of some of these prices

These Chanel sneakers, $1,300. You can find this pink MCM tote bag for $730 at Neiman Marcus

Purple brand denim jeans, $400 at Nordstrom Rack, but originally just under $1,000

And several of the sneakers in this video are Rick Owens, which will cost you anywhere from $600 to $1,100

It has people everywhere wondering, are we normalizing designer on a regular basis for our kids

I need to know now so I can make sure mine go to school somewhere else

And honestly, that question is fair because a new study from badcredit.org found 66% of parents would go into debt to help their child feel like they fit in at school

Erica Sandberg with badcredit.org says name brands here and there are fine, but not if it's something that will throw your finances out of whack

If you got young kids set them up for success straight from the get where they don expect those name brands the same as your teenager would Because the social pressures later do become super intense and they do cause parents to overspend to compensate It goes deeper than just the price tag 48 of

parents said they even feel guilty for not being able to afford name brand or trendy items for

their kids. On average, Sandberg tells me back to school shopping could be around $500 per kid

So setting a plan ahead of time is crucial for your pockets

Are you going to use savings? Are you going to use a credit card? Buy now, pay now, buy now, pay later programs and start to plan, right

How is it that you're going to make this work or are you going to reduce that spending

But if you're still hoping to hop on the designer trend for your kid and can't afford it

Hey, $25 Chanel lipstick that your teenage daughter can whip out can have the same effect

The bottom line is back-to-school shopping is temporary, but your finances are not

Sandberg stresses how important it is to be transparent with your kids about money

and that conversation shouldn't just happen during back-to-school season. Badcredit.org also found that 59% of parents don't talk to their kids about financial limits

Just say, listen, we all have our limits. I have a limit

There's only so much that we can afford for your clothes to go back to school

We have some, but not as much as you may want. So just know going into this process that we're not going to get everything for you this year

You have Christmas coming up or other holidays coming up, and we can supplement there

But right now, this is what we have. And be okay with that

it sets them up for success. With Straight Arrow News, I'm Kennedy Felton

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