Parents around the country are excited to send their kiddies back to school, but doing so is going to cost more this year. According to the National Retail Federation, the average family will see a 5 percent increase in back-to-school shopping and can expect to pay close to $700 on things like pencils, notebooks, backpacks, and clothing.

The report says that school supplies alone will cost parents about $100 per child, which is actually up 12 percent from last year. Parents are not only finding the cost of school supplies increasing, but also the amount of supplies teachers are requiring of their students on the rise. (Business Week)

DON'T FORGET: Maryland's Sales Tax Holiday runs Aug. 10-16.