Students will need to find more room in backpacks for tech gadgets as they head back to school this fall. According to the latest American Express Spending & Saving Tracker, parents expect to spend an average of $529 (46%) of their back-to-school budgets on electronic devices, equipping kids with the latest technology as the new school year begins.
Overall back-to-school spending is up 5% since last year, as parents say they'll spend an average of $1,151 (vs. $1,094 in 2013 and $867 in 2012).
With the majority of students using tech devices for learning (77% vs. 70% in 2013), it's no surprise that laptops, as well as classroom-friendly tablets, top kids' wish lists. The top five electronics parents intend to buy this season are:
- Laptop computer (21% vs. 25% in 2013)
- Tablet (20% vs. 15% in 2013)
- Scientific calculator (17% vs. 18% in 2013)
- Mobile phone (13%, on par with 2013)
- Printer (12% vs 13% in 2013)