Here’s an overview
As Freshers get ready to leave the family nest for university this September, research from American Express reveals UK parents spend an average of £3,662 during the course of their child’s degree, purchasing everything from bedding and books to groceries and gadgets to ensure their offspring have the best campus experience possible.
Stocking up fridges with food and drink costs on average £1,194 over the course of a university degree, whilst spend on electronics such as laptops and smartphones totals £896. Parents spend more on clothes and shoes for their children (£516) than books and study materials (£388), whilst traditional new home essentials such as duvets, pillows and towels cost on average £236.
University costs for parents:
|Food and drink||£1,194|
|Electronics (e.g. new laptop, new phone, TV.)||£896|
|Clothes and shoes||£516|
|Books, stationery, study materials etc.||£388|
|Toiletries (e.g. shampoo, deodorant)||£251|
|Household items (e.g. sheets, bedding, pillows)||£236|
|Kitchen utensils (e.g. plates, cutlery, pans etc.)||£181|
Jenny Cheung, Director at American Express says: “September can be a costly month for all parents, particularly those with children attending university who often have many more expensive items on the shopping list such as living and household expenses. As students knuckle down to their studies, parents can make sure they are equally as smart with their spending. Shopping around for offers, and using rewards and cashback are just some of the ways parents can be top of the class with their spending.”