How much does your child spend at college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How can a kid spend only 500 per month. Do they never get chipotle or take an uber or go
To cvs for toiletries? Thats how much I spent in college in the early 90’s

This!

My college was in a major city though, so everyone liked to go out to restaurants, clubs, etc. I was broke with $100/week.

Nobody answers a thread like this except people who want to flex on how little they spend.

Well, my kid is pretty frugal. They cook for themselves; shops mostly at Aldis. They have splurged a bit on clothes, but that was with their own money they made from internships. They go out, but I don't think the spend *that* much money.

They currently have $19K in their checking account. I have $11K. LOL One time I forgot to transfer money into my checking account to pay a bill, and I said to DC I may have to borrow money from them.

I do have a feeling, though, that my younger one will spend a lot more. DC#2 is less frugal. I have been telling DC since the beginning of junior year in HS when they got a job that they *really* need to be saving money for spending money in college. Seems to be falling on deaf ears. DC#1 told me that DC#2 won't "get it" until they get to college.

[Anonymous]

$500 per month. Sometimes less.

[Anonymous]

OP- your kid needs to get a job to earn their own spending money. They are adults. They don’t need an allowance.

[Anonymous]

my kid runs a small SHSAT (nyc high school exam) study group for about 6 months out of the school year. it's an hour Sunday night plus his prep time.. He earns about 160 a week. That's his spending money. I think he tried to save 50 a week for travel.

[Anonymous]

Anonymous wrote:OP- your kid needs to get a job to earn their own spending money. They are adults. They don’t need an allowance.

That's a valid approach! It's not for us, but I wouldn't disparage you for going that direction.

I want my kid to study hard and enjoy themself. They worked for their pocket money through HS, coaching and babysitting. They will work this summer in retail. Giving a moderate allowance in college is how I demonstrate that I support their education and transition into adulthood.

[Anonymous]

Anonymous wrote:OP here. Thank you, this has been really useful! My kid will be going to school in DC which is why I asked here. I went to college in a small city that was a 90 minute train ride from a big city, and my parents covered my travel home and all my school-related expenses except books. The idea was that they'd give me a lump sum and I was supposed to shop around for the best deals on books (a major expense 30 years ago) in order to have more leftover for discretionary spending. I had some very tattered textbooks!

So it sounds like with housing, meals, and transportation covered (the fees include an unlimited wmata pass), and with books being mostly online now, $1000-1200 should land right in the middle of "I need to water down my shampoo" and "pizza's on me, everyone!"

Is that per semester? I am a NP and also looking for guidance and trying to figure this out for my rising freshman dd at upenn in philly. For the first year, they will be living on campus and on the full meal plan. I know kids there like to go out, so not sure how to think about what is reasonable. (We are not super wealthy so the question of a fair/reasonable budget is currently being discussed with my kid)

[Anonymous]

Anonymous wrote:OP- your kid needs to get a job to earn their own spending money. They are adults. They don’t need an allowance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They are on a meal plan and live on campus. We limit them to roughly $1,000 month spend for things like frat dues, meals out, clothing purchases, ubers, etc.

OOF. Meal plan AND $1,000/month?

I guess they are wealthy

In the pp's defense, those frat dues can be hundreds per month, and an Uber can be $25+ each way. Really depends on the school, location and wealth/culture of the student body for what's typical.

Perhaps we should compile a list of schools that are socially expensive and those that are cheaper - no need to uber, no expensive outings. I went on a tour of University of Richmond and the student guide said they often go to restaurants, travel, etc.

[Anonymous]

I give mine about a thousand per month spending money plus liberal use of credit cards, is on my Uber account, etc.

[Anonymous]

My kids are still in HS, so I wondered how common is for kids to work on campus. When I was in college, I wasn't on financial aid so didn't have to work but still got a very part time campus job- like 5 hours a week - which along with summer job savings, paid for books and incidentals. I figured we'd have our kids do something similar.

[Anonymous]

We let our freshman be an Authorized user on our credit card for books, fees, train trips home. Kid uses money saved from working during breaks and summer for the extras - pizza, boba, thrift store shopping, etc. plus gift card from family members.

[Anonymous]

You will find kids who spend $50 per day and kids who spend $50 per semester.

If you're in a position to give money to your kid or let them use a family account on certain sites, establish the budget/rules that work for your family.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP- your kid needs to get a job to earn their own spending money. They are adults. They don’t need an allowance.

That's a valid approach! It's not for us, but I wouldn't disparage you for going that direction.

I want my kid to study hard and enjoy themself. They worked for their pocket money through HS, coaching and babysitting. They will work this summer in retail. Giving a moderate allowance in college is how I demonstrate that I support their education and transition into adulthood.

I show my support by paying for tuition, room/board, etc. No self respecting college student should want an allowance from their parents.

[Anonymous]

Anonymous wrote:My kids are still in HS, so I wondered how common is for kids to work on campus. When I was in college, I wasn't on financial aid so didn't have to work but still got a very part time campus job- like 5 hours a week - which along with summer job savings, paid for books and incidentals. I figured we'd have our kids do something similar.

.

Most on campus jobs go to students who are awarded work study as part of their FA. Just an FYI.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Thank you, this has been really useful! My kid will be going to school in DC which is why I asked here. I went to college in a small city that was a 90 minute train ride from a big city, and my parents covered my travel home and all my school-related expenses except books. The idea was that they'd give me a lump sum and I was supposed to shop around for the best deals on books (a major expense 30 years ago) in order to have more leftover for discretionary spending. I had some very tattered textbooks!

So it sounds like with housing, meals, and transportation covered (the fees include an unlimited wmata pass), and with books being mostly online now, $1000-1200 should land right in the middle of "I need to water down my shampoo" and "pizza's on me, everyone!"

Is that per semester? I am a NP and also looking for guidance and trying to figure this out for my rising freshman dd at upenn in philly. For the first year, they will be living on campus and on the full meal plan. I know kids there like to go out, so not sure how to think about what is reasonable. (We are not super wealthy so the question of a fair/reasonable budget is currently being discussed with my kid)

They can get a job for going out money. You are already paying for Upenn.