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[quote=Anonymous]We give our college kid an "allowance" that is meant to cover food (he doesn't have a meal plan), some gas, and necessities like toiletries, etc. We worked it out together and that's what he gets every month. Even though he might spend less if we just let him use our credit card, we want him to understand budgeting and saving etc. When he gets to junior or senior year, we'll probably give him the same amount in a lump sum for each semester -again, to help him with budgeting and making sure he understands how money works. We wouldn't do it if we couldn't afford it but we can. And the amount really depends on where your kid goes to school - he goes to school near a city so it can sometimes be expensive. He also works and he uses that money for going out with friends, taking trips with friends, stuff for his girlfriend etc.[/quote]
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