Reply to Appropriate Allowance for Freshman in College

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What do your kids do in the summers prior to going to college? My kid easily made $4K last summer as a 16 yr old. He saved around half of that. He will probably make the same this summer and next so by the time he starts college, he will have $6K or more saved. I'm not giving him an allowance. He is not 6 yrs old unable to make his own money. I had to use my summer earnings to pay for my books and as my fun money and he will do the same.[/quote]

What exactly did he do in 8 weeks to make $4,000? 🤨[/quote]

NP - my nephew caddied at a high end club last summer and made a lot more than that. He was making $800-$1000 a week. Crazy money. [/quote]

[b]My kids have real internships that help them get real jobs one day. [/b]My oldest just finished up one with chuck Schumers office. Definitely didn’t make money, but had a great experience.

I’ll continue to give my kids spending money so they can focus on school and securing good internships. My oldest works at McKinsey and definitely wouldn’t have loaded her 6 figure job one year out of college being the beer girl at a golf course [/quote]

I'll never forget one lovely boss I had early in my career who asked me to sort through a pile of resumes.  She asked me NOT to leave her just the resumes with only ivy league degrees and impressive unpaid internships.  She wanted the final pool of candidates to include people who had worked paid jobs because not everyone can afford to take unpaid internships in the summers.  As someone who worked all the way through college and never took an unpaid internship (because I couldn't afford that) I appreciate there are some people who recognize that the beer girl at a golf course might be as bright as your kid as just as capable of real work.  They were just born in a family with fewer resources.[/quote]

It’s not a matter of the internship kid being smarter than the beer cart girl. My oldest has graduated and did internships for all 3 summers. He graduated may of 2022 and started working immediately June 1 of 2022 making 75k as a starting salary  at one of the companies he did an internship at. He had a standing offer summer before his senior year. The internships provide great leads for jobs and contacts. [/quote]

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