Maybe it's not how much you're buying, but what you're buying.

I honestly could not believe this when I saw it. I don't have kids, but if I did I don't know that I would send them back to campus this upcoming year. With that being said, I would think home schooling my kid would be cheaper than buying everything they need for an-person instruction. Turns out I'm wrong.

Back-to-school spending is expected to rise this year.

According to the National Retail Federation, spending could hit an average of $789.49 per family. That is more than last year's record-number of $696.70. It seems like it's not really about how many supplies you're buying, but what supplies you're buying. With so much uncertainty about what this year will look like, many parents may overbuy.

And then there's technology.

Since some or all classes may take place online, many families will need to purchase a device for their kids to learn on. For some families, this may mean multiple devices if they have more than one child. Parents may also need to stock up on school/office supplies like a printer, paper, pens and pencils, and more.

This means the national average will increase too.

Last year's spending came in at $26.2 billion. This year, that number is expected to rise to $33.9 billion. That's higher than the previous record of $30.3 billion that was set in 2012.

Even college kids are expected to spend more this year with campuses making COVID-19 adjustments. Many college kids are expected to have a computer or laptop to work on already, but with social distancing and the possibility of campus libraries and resources being unavailable, this may become a requirement. College spending per household is expected to be around $1,059.20 per household which is more than last year's $976.78.

The national average for college spending is also expected to be around $67.7 billion. Last year's spending topped out at $54.4 billion. The previous spending record was set in 2018 at $55.3 billion.

How are you planning for the upcoming school year? Are you planning for the worst and hoping for the best? Will you wait a little longer before racking up those receipts?