How to make a dorm feel like home without stressing your budget.
If you have a college-bound freshman in your home, chances are good that you’re spending at least part of this summer getting everything your recent grad needs to make their dorm room as much like home as possible.
According to the National Retail Federation, the average college student will spend about $916.48 on furniture, supplies and electronics. That’s up 10% from the $836.83 that was spent, on average, in 2014. Even worse is that total is only based on purchase price – in other words, it doesn’t include the interest a family would pay if these purchases are put on a credit card.
So what’s a family to do?
Luckily, by shopping smart and taking a strategic approach you can cut the cost significantly – by about 70-76% to be exact. In addition, by reducing the cost, you also make it easier to pay off the debt quickly to avoid throwing money away on interest charges.