I used to get irate at the amount of money I spent on back to school supplies when my kids were in elementary school. Now I chuckle at my naiveté and long for the days when they were thrilled with such paltry offerings.
When your kids hit college, the real spending begins. And I’m not talking about the cost of tuition, room and board. The extras we all get sucked into buying can add up surprisingly fast. In fact, according to the National Retail Federation, we spent $43 billion on non-academic items this year.
When I heard this figure while listening to NPR one morning, I was completely flabbergasted. I was even more shocked to learn that more than half of it is spent on room furnishings. That’s right. Americans spent more than $21 billion on stuff for a room that already has furniture.
If you’ve been to a major retail store during the month of August, you can see how easy it is to get carried away. Walking through the aisles you become convinced that your child needs accoutrements of every conceivable variety if he or she is to survive while away at school. But let’s face it. Most of the paraphernalia you cram into your oversized SUV or van is totally unnecessary.
I would love to be able to say that I resisted the temptation to go on a buying frenzy when my kids went away to college. Alas, I foolishly bought (pun intended) into the notion that I had to equip each of them to the teeth. It’s only looking back – and being confronted with the staggering amount spent on this stuff – that I can appreciate my folly. True, we don’t want them to go hungry. But do they really need a premium coffee maker, microwave, and fridge in their room when they have a meal plan? Yes, we want them to be comfortable. But how many types of pillows can fit on a twin bed? And don’t even get me started on toiletries. If you have girls you already know you need to take out a second mortgage to keep them in hair and skin products.
Before you get too discouraged, not all of the $43 billion was spent on shiny new tidbits. Every school year, college students spend $5.5 billion on alcohol. You may want to rethink that allowance. Or join them for a drink before they start having to repay those student loans.