Aussie kids lost or broke nearly a billion dollars worth of tech last year

Over 2021, AU$960 million was spent replacing broken or lost school tech. A pretty staggering figure to comprehend. With over 1-in-2 (52%) of Aussie parents reporting broken or lost items tech items over that same 12 month period, it becomes easy to see how the cost of replacing everything easily rockets upwards.

This information is taken from research undertaken by financial comparison site Mozo, into the longevity of tech purchased as part of the educational needs of school children in Australia. If you’re interested in sifting through all of the information this research has uncovered, feel free to have a gander at the full findings here.

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As the schooling system becomes ever more virtual, with higher demands of the tech needed to scrape by, the cost of all of the goods needed to get children through their schooling is itself edging upwards. And as the Mozo research indicates, it is going to be a big chunk of the yearly household budget.

If you’re of strong will and able to battle the demands of a child, an even better way to save money going into each school year is to take advantage of back to school sales run by retailers across the country. We’ll be keeping tabs on them, and have several BTS hubs on the go.

If the timing ends up not being quite right, we can also recommend the best laptops for students and best laptops under AU$1,000 to keep the fiscally conscious happy with the tech they’ll be getting, while being secure in the knowledge that they won’t be getting stung with low-quality goods.  

 T3 Australia’s top tips to keep cash in your pocket 

1) Always compare prices and check for online deals before purchasing new devices – we can recommend these excellent price comparison websites to do so. Mozo offers excellent comparisons for all types of financial products, and Getprice covers almost every type of product you can buy in Australia today.

2) Find location services on all valuable devices. If possible to utilise a ‘lost phone’ tracking system you’ll be able to avoid a huge amount of stress while saving big bucks. However, if you fear that the device has indeed been lost, consider remotely erasing data to protect personal information.

3) If the time has come – and it will – for you to upgrade an older model, always see if you can trade it in for a discount. 

4) Do not feel like that drawer full of old phones will gain in value. Old tech will only decrease in value as time goes on. If you’re getting rid of old goods they’ll get the best amount of cash the second you upgrade. If no one will take it, make sure you dispose of your goods in the safest manner possible. Recycling is the way! And electronics have to be recycled in a specific manner. 

5) With pressure from kids demanding top-tier products, an easy way to save yourself money over the long run would be to invest in home and contents insurance. If you’re flipping a coin on any given year as to whether you’ll have to be replacing an item throughout the year, there’s huge peace of mind in knowing that whichever way the coin lands, you’ll be able to keep it.