September comes, and with it comes a new economic downturn for families: With an average of 410.71 euros per student, back to school this year will be the most expensive, as records are set, according to a study conducted by the financial comparison organization Banqmi. Although this year’s increase is only 1.39% (or, on average, five euros more per student on average) than in the past, it comes just one year after the big rush we saw in the back-to-school rush last year. , when the average cost increased by almost 20 euros: from 386.76 euros in 2021 to 406.07 euros in 2022 (+4.73%).
As with all ‘back to school’ the average price this year varies according to the autonomous community of residence. They will be their families again for the 2023-2024 academic year. Valencian Community (465.55 euros), Catalonia (447.86 Euros) and Navarra (447.36 euros), which will pay above average per student. On the opposite side, we continue to see Extremadura (€383.38) and Castilla-La Mancha (€387.34) and Canarias (389.83), which dropped one spot and posted a lower price than Castilla y León. we do. that last year it was third from the bottom and this course was thirteenth (out of 17) in the ranking, with an average of 392.14 euros per student.
Castilla y León is one of the autonomous regions where the average cost of ‘back to school’ has increased the most, especially 2.45%, only behind the increase recorded in Catalonia (+2.62%). The regions where it rose the least were Galicia (+0.40%), which dropped from 11th to 12th. arrangementand the Community of Madrid in seventh place (+0.64%).
Bilingual communities have the most expensive textbooks
When calculating the average budget per student, two main factors are taken into account: the price of books and the price of uniforms. On the one hand, the Community of Valencia, the Basque Country, Catalonia and Navarre are the autonomous regions with the highest textbook prices. In both the Valencian Community and the Basque Country they average 232.33 Euros and 205.08 Euros respectively, with an average of 200 Euros far exceeding. This threshold is close to that in Catalonia, at 197.29 euros, and in Navarra, where school books cost an average of 196.55 euros.
Banqmi financial expert Antonio Gallardo assures that “CCAAs where they are bilingual, meaning they have one common official language such as Catalan or Basque, tend to be the countries with the highest book prices.” Gallardo adds: “The exception is Galicia and Galicia, where the average price of books per student is 179.74 euros, which is an in-average cost.”
At the bottom of the ranking are Castilla-La Mancha (€172.68), Community of Madrid (174.48€) and Extremadura (€174.61) with the most affordable average textbook price per student across the entire country. However, the Castile-La Mancha region, where public schoolbooks have become more expensive since last year (+4.35%) (behind only Catalonia, up 5.34%). This is also the community that uploads the most subsidized school textbooks (+2.46%); and in the private sector, with an increase of 2.47%, it is second only to Murcia (+2.48%).
Uniforms are very expensive when bought in schools
Another factor influencing the ‘back to school’ cost is uniforms. These garments are mandatory in almost all private schools, most of which are subsidized, and according to Gallardo, “more and more public schools also require them, even if only with sweatpants to do physical education.” The average price per student during this academic year is 225.02 Euros. 1.39% increase over course the past was 221.96 euros.
By communities, Navarra is the region with the highest prices, with an average of 250.81 euros; It is followed by Catalonia with 250.58 euros. Madrid is in third place, with an average wage of 241.17 euros per uniformed student. And there are already autonomous communities under 240 euros, and again Extremadura (208.77 euros) is next. Of course, the biggest increase in jersey costs was recorded by Cantabria and Castilla y León, both up 2.90% from last year. At the opposite extreme are Galicia (-0.15%) and the Community of Madrid (-0.02%), which have lowered their prices.
Why are jersey prices increasing? Banqmi finance expert Antonio Gallardo assures this “The number of stores selling school uniforms is dwindling, and they certainly have an agreement with the schools, if they exist.. That’s why more and more jerseys are bought in centers and at higher prices.” So much so that the difference between the average price of the jerseys sold in clothing stores (206.71 euros) and the average price of the jerseys sold in schools (243.34 euros) goes up to 36.63 euros.
How can we meet this increase in prices without borrowing too much?
One of the most important measures to be taken in order not to borrow too much due to the increase in the cost of returning to school is to have a general financial planning appropriate to our resources and saving capacity. This was confirmed by Javier Fano, president of Banco Mediolanum in the Levante Region, but he also states that for the academic year 2023-2024 this is for ‘back to school’. “We should have started saving now”. For those who have not done so and need additional financing, such as a personal consumer loan to pay for all their school supplies, “the first thing to do is to measure all the costs to be clear about the actual effort involved and, from there, look for the most appropriate solutions,” Fano adds.
However, planning for the coming months is also crucial because back to school comes just before Christmas. In this sense, Javier Fano has to avoid surprises. “Digitize all the expenses we will have at the beginning of the year” and from there “recommend a saving game.” In this way, the president of Banco Mediolanum in the Levante Region concludes: “With good planning and proper management, and the support of a financial advisor, we can only achieve our goals in the short term, such as occasional expenses. Not as ‘back to school’, but but also in the medium term, such as the education of children, or in the long term, such as retirement.
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.