College student - credit cards, limits, Ubers, food

[Anonymous]

really struggling with what is best. DC goes to school in an expensive city, has a required meal plan (food is bad), no income (had a summer job but those funds were used up quickly), looking for a part time job now (we had reasons for not allowing a job while in school til now), gets $300 a month allowance and a has a credit card & Uber account attached to his bank account - credit card is set to automatic payments and its not working out very well since he is spending more than he has. For those who give their kids a credit card, do you set a strict limit? Is it attached to your bank account or theirs? What about Uber accounts for city kids? I need some guidance without judgement please. Thank you

[Anonymous]

Is the $300 allowance the amount that is linked to the CC and uber account? or is this in addition to the $300 allowance?

[Anonymous]

Anonymous wrote:really struggling with what is best. DC goes to school in an expensive city, has a required meal plan (food is bad), no income (had a summer job but those funds were used up quickly), looking for a part time job now (we had reasons for not allowing a job while in school til now), gets $300 a month allowance and a has a credit card & Uber account attached to his bank account - credit card is set to automatic payments and its not working out very well since he is spending more than he has. For those who give their kids a credit card, do you set a strict limit? Is it attached to your bank account or theirs? What about Uber accounts for city kids? I need some guidance without judgement please. Thank you

actually, irrelevant for a student. There are many ways of getting around a "bad" (is there really such a thing?) food plan - like go to the salad bar, order a burger from campus outlet, supplement with ramen noodles in the room. Get a grip. you give nothing but excuses.

$300 is GENEROUS.

yes they need a part-time job - stop the excues

OMG he has a CC and uber account!

My UVA kid had nothing. nothing. no car. no car insurance. our credit card which he used only for groceries. He and his 3 roommates cooked together.

[Anonymous]

They need to learn to eat what’s given.

[Anonymous]

Why can't he take public transportation? Ubers should be for emergencies only, or if sharing with a few others. If he has a meal plan, he should not be spending $300/month. Obviously he needs to get a P/T job to support his spending habits. Linked to his own account not yours. Sounds like you're enabling him to live beyond his means.

[Anonymous]

Bad food is part of college. They need to get used to that

[Anonymous]

He had x amount of money, he spent it, so he has to suck it up. I wouldn’t bail him out it’s time to learn. Next year maybe he won’t blow his yearly budget by February.

[Anonymous]

UMD kid living on campus with meal plan. We don’t give any allowance, credit card is for books, school fees, medical copays and emergencies only. Had a summer job and still has most of the money in own accounts. You’re giving way too much, OP.

[Anonymous]

My child is in a similar setting. We don’t have strict limits but she is naturally frugal. If she were overspending we would put a (generous if we could afford it) limit on non Uber spending. For Uber, we have said when in doubt, Uber and no questions asked. Again, this might not work if she were temperamentally a big spender sort (or we couldn’t afford it.)

[Anonymous]

For the person shocked at the credit card - do you suggest giving a debit card only? Sounds like you gave your kid a card linked to your bank account? How did they spend their own money? For the record, the city is dangerous - Uber is for night time safety and sharing cost with others. You do not have to worry about that in Charlottesville. Fraternity houses are an over a mile from campus.

[Anonymous]

It really depends on the kid, depends on the family, depends on your HHI.

[Anonymous]

Anonymous wrote:For the person shocked at the credit card - do you suggest giving a debit card only? Sounds like you gave your kid a card linked to your bank account? How did they spend their own money? For the record, the city is dangerous - Uber is for night time safety and sharing cost with others. You do not have to worry about that in Charlottesville. Fraternity houses are an over a mile from campus.

How much does he go out? Do other kids never pay?

[Anonymous]

I was never on my parents cc! I had to pay for everything, so I got a job. Seriously, this is best way to teach responsibility and autonomy. We have a high HHI but my kids will earn spending money. I will pay room and board, car insurance, health insurance, plus $150/mo for supplies and sundries. Anything more, including transportation, is 100% up to them.

[Anonymous]

Freshman twin mom here. Each boy has a CC with $300 limit to be used for occasional meals or going out and uber rides. They never reach the limit. Including the one that has horrible food at his college, he makes do. I have given him many options to go out to eat at least once a weekend and he rarely does. $300 is very generous. This is a good time to learn to budget

[Anonymous]

Anonymous wrote:For the person shocked at the credit card - do you suggest giving a debit card only? Sounds like you gave your kid a card linked to your bank account? How did they spend their own money? For the record, the city is dangerous - Uber is for night time safety and sharing cost with others. You do not have to worry about that in Charlottesville. Fraternity houses are an over a mile from campus.

Did you even research this school before he went? You’re describing it as a hellhole.