Back-to-school spending isn’t always about notebooks, backpacks, and new clothes. For many parents, it’s about something much more emotional: making sure their children feel like they belong.
In a new Psychology Today article, Nathan Astle, CFT™, certified financial therapist at Beyond Finance, explores the “Back-to-School Parent Trap” — the tension parents experience between protecting their child’s sense of belonging today and protecting their family’s financial future.
Nathan cites Beyond Finance’s research finding that 70% of parents feel pressure to buy their children the same clothes, technology, and supplies as their peers despite financial constraints.
But saying “no” doesn’t mean letting a child down.
Nathan encourages parents to involve children in spending decisions, prioritize the purchases that matter most and use back-to-school season to teach an important lesson: “financial decisions are about values and priorities, not instant gratification.”
He also encourages families to resist social comparison and seek help from schools and community organizations when needed.
Perhaps Nathan’s most important message is that children are watching how their parents handle financial stress and difficult decisions. Those lessons can shape their relationship with money long after the first-day outfit is forgotten.
Read his story in Psychology Today.
About Nathan Astle
Nathan Astle, CFT™ is a Certified Financial Therapist and one of the country’s leading voices on the emotional and relational dimensions of money. As a Financial Therapist at Beyond Finance, he leads weekly financial wellness sessions with clients navigating debt. He is the founder of the Financial Therapy Clinical Institute and writes a monthly column for Psychology Today on the psychology of debt. His expertise has been featured in The New York Times, The Wall Street Journal, Yahoo Finance, and USA Today.