The start of a new school year is less than a month away, and that is putting added stress on many families already struggling with the cost of living.

BDO President Nancy Snedden, who also hosts Your Money on VOCM, says parents will be spending close to $600 per student to send them back to class this year.

She says 77 per cent plan to use cash or debit for some of the purchases, but what’s concerning for her is that 52 per cent are also planning on using credit.

Snedden says it is important for parents to form a back-to-school budget and to prioritize needs over wants.

She suggests taking stock of things around the house that can be used, and not buying everything all at once.

Snedden suggests looking at what students will need for week one. After that first week, stores will usually start sales on school supplies so parents can stock up on the remaining needs then.

Snedden is dedicating a full episode of Your Money to back to school finances this Saturday on VOCM.

Meanwhile, VOCM’s Block the Bus campaign in aid of the Single Parent Association has entered its final week.

School supplies can be dropped off at The Village Shopping Centre, and monetary donations be made directly to the Association.

VOCM will be on location this Friday between 1 and 6 p.m. as we block a Metrobus full of school supplies.