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Reply to "College student spending of mom and dad's money"
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[quote=Anonymous]Here is how we set the budget: - at average utility bills for 12 months (and then divided by 12) to get a monthly rate. - assumed a certain amount every 2 weeks for groceries, then multiplied by 2.5 for a month. - Added in the fixed prices for internet, etc. - Added in about $20 for gasoline. - Added in about $20 fun money per month. Kiddo's exact rent amount is transferred on the 25th (due to landlord on the 30th) and the above amount is transferred on the 1st. Kiddo knows if they spend MORE than the fixed amount, they pay for it. Kiddo knows if they spend less, they keep it. Kiddo is not an authorized user on our credit cards because that just leads to mooching off mom and dad. Kiddo has a their own credit card and impressive credit score for a 20-year old with only a minimum wage job a few months a year. [/quote]
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