Parents are typically spending between $690 to over $1,100 for their child’s back-to-school expenditures, according to different polls. A major proportion of these expenses are directed towards electronics, highlighting the growing necessity of technology in educational settings. American Express’s annual survey reveals that K-8 students are the primary users of technology during the academic year. On the other hand, the National Retail Federation asserts that parents of high school students are observed to spend the most on technological devices, with the average household expenditure being around $230.
However, the rising need for electronic devices doesn’t have to destabilize your budget. Here are six smart strategies to save on tech purchases for the new school year:
1. Trade Up: With technology evolving rapidly, many people are left with a collection of outdated electronics. Trade-in schemes by Walmart, Target, Amazon, and others allow you to exchange these old devices for gift cards. It’s advisable to compare these trade-in programs to get the best return. Video games and consoles can also be traded in, so if your kids are bored with Grand Theft Auto 5, they can get up to $20 towards a newer device.
2. Shop Open Box: Amazon and Best Buy, among others, sell open-box items at a fraction of the cost of brand-new products. These items need to be in a good, working condition to qualify for reselling, providing a guarantee of quality.
3. Wait For New Releases: When a newer model of a popular gadget is launched, older models usually become cheaper. For the best timing to purchase such items, consider using price-tracking sites like camelcamelcamel.com.
4. Grab a Bundle: Back-to-school offers often include bundle deals combining laptops, printers, flash drives, and other accessories. If your student needs all these items, such bundles can be advantageous.
5. Study the Price Policy: Retailers, both online and offline, are competing for your business and many offer price guarantees or price-matching programs. Compare prices using tools like Pricegrabber and inquire about price policies from your preferred retailers.
6. Buy Accessories Online: Electronic accessories, including things like solid-state drives or extra vehicle chargers for your smartphone, are generally more affordable online.
