Avoid going bankrupt when sending your child to university

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One of the biggest adjustments for any parent is sending their child to university. It’s a mixture of excitement and worries for both parties involved. However for parents there are multiple budget questions to be answered, especially when it comes to furnishing their child’s new digs.

Here are some tips for you to help your child equip their new home without going bankrupt.

Don’t spend a cent; ask around

If you have a friend who is currently moving home ask if they’re putting appliances into storage. Moving into a new house often means that there’ll be odds and ends that are normally stuffed into a box and forgotten about. Take advantage and ask.

Nothing wrong with pre-owned

Picking up items secondhand can save you a bundle. Whether it’s purchasing a couch or toaster you’re be able to shave a pretty penny off the top. If you’ve got the capital, pay for the item in cash and get a cash discount.

Ask for tarnished items

Department stores always have breakages when shipping in new stock. Do some investigating and ask whether they have items not currently on the floor. Some of these items will need some attention, so some DIY will be required.

Look for the auction house

We’ve all seen the television programmes about auctions. Often these products in the local market come from foreclosed businesses. The savings you can get will surprise you. Just remember to stick to your base price.

Don’t go credit, rent it

If you’re keen on sending your child on their new path with products to match, but don’t want to sign a credit agreement, Rent-To-Own (RTO) is the option for you. Locally, Teljoy offers appliances, furniture and other household items via a rental agreement.

The benefits of taking this route are fixed monthly fees, which include benefits such as, risk cover, delivery and installation. No need to book a trailer, or to call a handyman, as with this agreement they take care of everything for you. You also have the flexibility to cancel at any time with 30 day’s notice so you are never “locked in” if your child’s circumstances change.

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