Reply to Spending Money - First Year On Campus w/ Meal Plan

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[quote=Anonymous][quote=Anonymous]Okay. OP again.

Let's just assume some students don't have savings, which is the case with my DD, for a number of reasons I won't get into. She was unable to work over the summer due to family obligations.

I realize I have a problem however and am trying to figure out how to course correct, which again will be helpful given that we will have another in college soon. So I'm just interested in some informal data.[/quote]

The main issue here to me is actually that because of your daughter's social choices in school, her "entertainment" budget is maybe higher than if she'd made different choices. I didn't join a sorority in school and so did not incur the expenses related to formals, rush, special outfits, dues, etc. plus the not-really-optional expenses related to socializing.

If you are not interested in paying for her sorority social experience, you need to have the conversation now with the context being that sorority participation is going to increase her spending in some areas you're not funding, and help her figure out what to do. It's not enough to just say "no, you can't do that because I won't pay for it." The kid needs to be parented to assess opportunities and weigh costs, which she cannot do without actual information.

If your base budget for kid socializing is $300, she needs to look at how much she's going over by and why. Then you can either adjust the budget or help her understand how to budget such that she's not blowing it all at the beginning of the month.[/quote]

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