This time of year, parents are busy buying binders, notebook paper, highlighters, pens, pencils, etc. for their elementary, junior high and high school students. Don' overlook these same costs when putting together your older child's college budget! School supplies are still needed and you might not be thinking about all of the things your kids use at home and you will now have to buy for the dorm room. According to the National Retail Federation, here are the average amounts spent on the top items:
Electronics: $266 - Did you know you will need to buy a laptop lock, Ethernet cable, power strips, etc.?
Clothing and Accessories: $119 - This does not include all of the college t-shirts, sweatshirts, etc.
Dorm Furnishings: $80 - Does not take into account those dorms equipt with kitchens
School Supplies: $61 - This is a low estimate in my opinion!
Some other things to add to the budget; laudry card refills, Greek Week festivities, football games, late night pizza runs, lab fees, and equipment fees. Don't forget about food when you are sick of eating in the DC!
This is a hectic time of year and if you have younger children getting ready to apply to college it can be overwhleming. Let the experts help. Come to a FREE College Planning Workshop in your area. Visit www.collegeplanningexperts.com to reserve a seat today!
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