Appropriate Allowance for Freshman in College

[Anonymous]

Anonymous wrote:Nothing. I saved every dime either of them got for holidays/birthdays/baptism/etc. They added to it with summer jobs. Each one had/has upwards of $25k. If they spend all of it, that’s over $600 a month per school month if they add nothing else to it for 4 years plus they still get $ from various relatives for birthdays and Christmas.

My parents did the same thing and I was told from an early age that it was for everything tuition, room, and board wouldn’t cover…so school books, food out, movies, beer, etc. I left for college with $15k and graduated with $12k. I was able to buy my first car (used) with that which I needed for grad school and put down security and first month’s rent on my apartment.

So, the answer isn’t “nothing,” it’s $25,000. If we had saved every dime my kid had ever received as a gift, plus summer job $$, there’s no way it would be close to $25k. You have a generous family. Good for you.

[Anonymous]

Most of the people on this board claim they give their kids no spending money, but the vast majority of kids I know did (and do) get money from their parents (and I grew up very middle class). Let’s just say the sample here is self-selecting.

We’re budgeting around $300 per month. Based on current spending, I don’t think DC will spend it all. We’ll see how it goes.

[Anonymous]

1800 a month. My kid will be paid to do 4 hours of studies every day after class. $15 per hour.

[Anonymous]

Do these kids do nothing on weekends? $100 barely got me through a weekend in college in the 90s, and I did not even buy drinks. Activities cost money, like grabbing lunch or dinner with friends, festivals, movies, short trips. I was in a major metro area though with lots to do. Perhaps in a more rural setting, not much to spend money on.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We never gave our kids allowances when they were in college. That’s why they had summer jobs! They graduated debt free thanks to us. We didn’t subsidize them upon graduation either. They got jobs and made their own way and they are doing very well.

In earlier times, people got married and started their own families in their mid-teens. We don't do that anymore. Civilization progresses because *most* parents provide some higher structural foundation for their kids to start from. There is no glory in having started from zero.

We paid 100% of our kids college costs but with no allowances. If that’s not “providing a higher structural foundation for their kids to start from” I don’t know what is! There is plenty of glory in earning your own spending money and then graduating and making a living without mommy and daddy’s help. At some point they need to get off the family payroll.

PP here. To put this in perspective, even with in-state tuition, we are discussing a difference of maybe 10% for a good in-state university like UVA or UMD. This is not going to be meaningfully different in terms of the level of support provided. The difference between getting $40k from your parents versus $44k is insignificant. Spending $40k instead of $44k is not getting "off the family payroll".

Huh?

[Anonymous]

Anonymous wrote:Do these kids do nothing on weekends? $100 barely got me through a weekend in college in the 90s, and I did not even buy drinks. Activities cost money, like grabbing lunch or dinner with friends, festivals, movies, short trips. I was in a major metro area though with lots to do. Perhaps in a more rural setting, not much to spend money on.

So get off your lazy butt and work your butt off in the summer and get a part time job while in school. But your own drinks and festival tickets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do these kids do nothing on weekends? $100 barely got me through a weekend in college in the 90s, and I did not even buy drinks. Activities cost money, like grabbing lunch or dinner with friends, festivals, movies, short trips. I was in a major metro area though with lots to do. Perhaps in a more rural setting, not much to spend money on.

So get off your lazy butt and work your butt off in the summer and get a part time job while in school. But your own drinks and festival tickets.

Who are you talking to? The previous poster said they were in college in the 90s. Get off your rocking chair on your front porch and stop yelling at the whipersnappers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do these kids do nothing on weekends? $100 barely got me through a weekend in college in the 90s, and I did not even buy drinks. Activities cost money, like grabbing lunch or dinner with friends, festivals, movies, short trips. I was in a major metro area though with lots to do. Perhaps in a more rural setting, not much to spend money on.

So get off your lazy butt and work your butt off in the summer and get a part time job while in school. But your own drinks and festival tickets.

Who are you talking to? The previous poster said they were in college in the 90s. Get off your rocking chair on your front porch and stop yelling at the whipersnappers.

I was talking to their kids.

[Anonymous]

Both kids get $500 a month. They can do whatever they want with it. One goes to school in NYC and the other in Boston, so both are in high COL areas.

Both live on-campus but one doesn't have dining on the weekend. The only dining hall open on weekends is far from their dorm (not a problem if the weather isn't bad), but it's very tiny so it's always packed and runs out of food. He's walked to the dining several times on the weekend and swiped his card (which takes a meal away) to only be able to get cereal and toast for dinner which doesn't hold a 6'3 guy for very long.

We don't allow them to work during the school year. They work during the summer and save their money for the big extra things they want (pledging a frat/sorority & the dues, spring break trips, other random trips, concerts, etc.).

[Anonymous]

Our three never had an allowance in college and I don’t recall them asking for one. They had good summer jobs and years of birthday gifts. When we’d visit them we’d shop with them and pay for basic stuff like shampoo etc but we weren’t subsidizing their partying.

[Anonymous]

$350/mo for entertainment is more than I allow myself to spend. But I'm early 40s with a net worth of $1.2M so I don't waste money.

[Anonymous]

Anonymous wrote:Both kids get $500 a month. They can do whatever they want with it. One goes to school in NYC and the other in Boston, so both are in high COL areas.

Both live on-campus but one doesn't have dining on the weekend. The only dining hall open on weekends is far from their dorm (not a problem if the weather isn't bad), but it's very tiny so it's always packed and runs out of food. He's walked to the dining several times on the weekend and swiped his card (which takes a meal away) to only be able to get cereal and toast for dinner which doesn't hold a 6'3 guy for very long.

We don't allow them to work during the school year. They work during the summer and save their money for the big extra things they want (pledging a frat/sorority & the dues, spring break trips, other random trips, concerts, etc.).

This was a nice glimpse into the college lives of Muffy & Biff.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$0. They can get a job and work 10 hours a week on campus, gain some paid work experience for their resume, learn some life lessons, and learn how to responsibly spend money they earn.

Seriously- I feel like this is a troll post. FFS.

you’re an idiot.

+1

Sock puppeting is pathetic...

[Anonymous]

Anonymous wrote:What do your kids do in the summers prior to going to college? My kid easily made $4K last summer as a 16 yr old. He saved around half of that. He will probably make the same this summer and next so by the time he starts college, he will have $6K or more saved. I'm not giving him an allowance. He is not 6 yrs old unable to make his own money. I had to use my summer earnings to pay for my books and as my fun money and he will do the same.

What exactly did he do in 8 weeks to make $4,000? 🤨

[Anonymous]

Interesting. I didn’t work while in college but gave supported myself since. Definitely not “Muffy” or “Biff.”