Reply to College Aged Child Overspends

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The educational way to do the above is to give him a budget for social activities.  Talk with him and find out how much he needs/wants.  Then let him manage it.  This will be a more valuable experience than just paying every bill with no limits.[/quote]

He has limits, just not hard and fast numbers. [/quote]

Jesus, you are ridiculous.  [/quote]

DP. I wouldn’t give a kid an unlimited budget, but I think the parents who refuse to give their kids any spending money at all are equally ridiculous. [b]It’s not hard to learn not to spend $$ when you have none to spend.[/b] It’s harder to learn not to spend when the $$ is available.

My kid has learned to make a budget and moves an agreed upon lump sum of money to his checking account every semester. He pays his tuition and rent, and then what’s left over is his to spend. So far, he has ended up with thousands in his account at the end of every semester. He works during the summer, and he had a prestigious internship this last summer that only paid a small stipend. I wouldn’t want him to turn that down because he needed to work waiting tables to pay his expenses during school. [/quote]

Mine has plenty of money. It's HIS money that he earned at his job. I honestly do not have money after paying $30k per year for college. My kid has more money in his checking/savings accounts than I do after paying the bills. [/quote]

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