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College and University Discussion
Reply to "Parents, How Much $ Did/Will You Allocate for Allowance?"
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[quote=Anonymous]Every college includes about $3500 for personal expenses and books in the budget. Since they're not likely to spend more than $1000 for books, that works out to $2500 in miscellaneous expenses over 10 months or $250/month. If they get a work-study or part-time job, they can easily earn that themselves or use their summer earnings. If you're already paying $60k in tuition, fees, room and board, that's not a lot to ask for a student to pick up and assume responsibility for. If you do cover misc. expenses, give it to them in a lump sum and let them learn how to manage the money to last the whole year. If your child is already a self-motivated, well-organized adult, they'll want to earn some of their own money so they can be more independent and self-sufficient or just to gain real world experience and connections anyways. [/quote]
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