Beyond Finance: parents going into debt

Beyond Finance said on August 5 that a new survey of 2,000 parents found many expect to take on debt for back-to-school shopping because they do not want their children to feel excluded. The Chicago-based debt-relief company said the pressure is social as well as financial, with parents describing a need to keep up with other families during the school-shopping season. The release did not frame the issue only around prices for supplies, clothing and activities. It said emotional pressure around belonging was a central factor in borrowing decisions. ### What did Beyond Finance actually say parents are doing? Beyond Finance said “nearly 40%” of parents expect to take on debt to cover back-to-school costs, according to the company’s August 5 release. The same survey said 15% plan to use personal or payday loans, while 8% said they had gambled to cover back-to-school expenses. (prnewswire.com) The company said 61% of parents have made purchases specifically to avoid their child “feeling left out.” Beyond Finance described that pattern as the “Back-to-School Parent Trap,” a phrase it used to describe the tension between protecting household finances and meeting social expectations around the school year. (beyondfinance.com) ### How much of this was about social pressure rather than prices? The survey said 70% of parents feel pressure to keep up with what other families are spending. Beyond Finance also said more than half of parents, or 58%, consider back-to-school shopping more stressful than the holidays. The August 5 release said the borrowing pressure comes as U.S. households already face elevated debt burdens. (prnewswire.com) In that framing, the company presented school shopping as an event that can trigger additional borrowing not only because of cost, but because parents worry about their children standing out or going without items their peers have. (beyondfinance.com) ### How does this compare with other back-to-school surveys this year? Credit Karma said in a separate 2026 survey reported August 2 that 45% of parents plan to take on debt for back-to-school shopping this year. That survey also said 57% of parents are entering the season with credit card debt, and 48% have opened or plan to open a new credit card or increase a credit limit to help cover expenses. (prnewswire.com) Deloitte said in its 2026 back-to-school survey, published in July, that K-12 parents planned to keep spending relatively steady but become more value-focused and delay purchases closer to the start of school. Deloitte said inflation-adjusted spending plans were down 6% from a year earlier, even as lower- and middle-income parents expected to spend more because of higher prices. (edhat.com) ### What should readers know about the limits of this finding? Beyond Finance published the results in a company press release and on its newsroom site on August 5. The release identified the sample as 2,000 parents of school-aged children, but the excerpts surfaced in the release did not include a full public methodology document, margin of error or detailed weighting explanation. (prnewswire.com) That means the figures are best read as company-reported survey findings rather than an official government measure of household borrowing. The numbers still add to a broader picture from other 2026 surveys showing parents relying on credit or other debt to manage school-season costs. ### What did Beyond Finance tell families to do next? (prnewswire.com) Beyond Finance paired the survey with budgeting and planning advice in its August 5 materials. The company said families should set spending limits, plan purchases in advance and seek financial-planning resources before using high-cost borrowing products. (beyondfinance.com) The company’s survey and guidance remain available through the PR Newswire release and Beyond Finance newsroom posting dated August 5, 2026. Those materials name Beyond Finance as the publisher and provide the company’s back-to-school debt findings and consumer advice in full. (prnewswire.com)