Reply to Appropriate Allowance for Freshman in College

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My kids saved their money from summer jobs to use for play money and school supplies during the year. That was the expectation. We gave them a little bit here and there if needed but the majority of their fun money was money they earned themselves. No allowance [/quote]

Same with ours and what was great was that they used their own money wisely. If you send your kid $500 a month they are going to party and piss away your money. Then they graduate and hope that the $6000/year subsidy will continue. [/quote]

NP here. I got 1k to cover rent for off campus housing, utilities, food, and all other expenses. My parents definitely screwed up since I have a terminal degree and a solid career. They screwed up so much that I learned to budget and save. Totally sucked. I will do the same for my kids.[/quote]

I'll say it again -- if my kid earns a college degree and can't get a job that allows them to spend $500 a month after paying their rent, there's definitely a much bigger problem.  And it won't be because my kid got an allowance in college.

Besides -- almost every one of these "they have to earn it all themselves" posts is full of caveats -- "we gave them a little bit here and there," "they buy toiletries, etc from my Amazon account," "I send them with a stock of snacks," "I buy all their clothes," etc etc.   These parents are subsidizing the lives of these students, they're just not doing it in a set monthly amount.  How is that better?  I'd rather give my kid a set amount of money and let him figure out how much things like clothes, toiletries and snacks really cost and learn to budget and make choices.  [/quote]

+1 There are a lot of caveats on this thread.

We give a semester lump sum that covers rent, utilities, food, books, toiletries, greek fees (minus social fees), and a bit of spending. The only thing we pay directly is tuition and flights. No access to our visas, no emergency money. Amazon access is only for prime, must use own cc (which is kinda a pain b/c we accidentally used the kids' cc #s when not paying attention). When there was a charge on the university account for a clicker, I asked kid to login and pay it. Kid made about $5500 this summer pre-tax, and wants to invest half, use half for spending. [/quote]

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