Anonymous wrote:OP-
I've been there on a different level but may be joining you next year as my DS is very interested in an SEC school and doing the SEC frat thing.
That said, my oldest went to school and participated in an expensive extracurricular (varsity sport). Obviously, he had room and board covered. I gave him an extra $250 a month and made him an additional user on our credit card. I warned him that the cc was for emergencies only and I monitored that bill like a hawk.
However, I let him go with the $250. If it was finished by the 15th of the month, he was stuck sucking it up at the dining hall grab and go after practice while his buds ate pizza. That freshman year was hard in a lot of ways and this was part of it. Sophomore year, he caught on. He was very careful about what he spent his money on. Yes, parties (thrown by the team that he had to pitch in on) took priority but he became choosier about when to roll out of bed on a Saturday to hit a coffee shop or to hit the dining hall for breakfast. By senior year, I had increased his monthly allowance because he had a car up there but he was very good about managing it all.
BLUF: You need to let her squirm a little. You're covering dues and dresses - she's not going to get kicked out of the crew. She needs to prioritize what is important to her that month and choose accordingly. Now that my oldest is on his own and living on his own paycheck, I think living on a budget was one of the more valuable lessons he learned.
Anonymous wrote:Okay. OP again.
Let's just assume some students don't have savings, which is the case with my DD, for a number of reasons I won't get into. She was unable to work over the summer due to family obligations.
I realize I have a problem however and am trying to figure out how to course correct, which again will be helpful given that we will have another in college soon. So I'm just interested in some informal data.
Anonymous wrote:My high stats college senior who also has a demanding EC has managed to save $4k from working the last two summers and school heads.
Your DD sounds spoiled and entitled and you sound enabling. $300 is incredibly generous and she should thank her lucky stars. And definitely tell her she must have a full time job this summer.
I'd say she's spoiled, but not entitled, if you can make sense of that at all. There are actually some factors that contributed to the situation that I prefer not to share for fear of outing myself/my daughter. These impact why I tend to be lenient when it comes to opportunities to be social and make new friends.
Anonymous wrote:Anonymous wrote:I have a sophomore who was an athlete who had never had a HS or summer job, just some babysitting/gift type money when they left for college. They are at a state flagship in a city.
We gave $200/month for "fun money" in the debit account where we don't see the charges. Plus my kid has a credit card that I pay. It is hard to parse out because everything - prescriptions, books, toiletries, fast food, amazon orders, gas, ubers, activities, etc - is on that card, but it averaged about $1000 a month freshman year.
Kid is expected to pay for more on their own this year after having a summer job, but still gets $100 "fun money". We are paying Greek dues and essentials mentioned above, still roughly $1000 a month.
Amazon, gas, food, activities - what else is there under “fun money?”
Anonymous wrote:I have a sophomore who was an athlete who had never had a HS or summer job, just some babysitting/gift type money when they left for college. They are at a state flagship in a city.
We gave $200/month for "fun money" in the debit account where we don't see the charges. Plus my kid has a credit card that I pay. It is hard to parse out because everything - prescriptions, books, toiletries, fast food, amazon orders, gas, ubers, activities, etc - is on that card, but it averaged about $1000 a month freshman year.
Kid is expected to pay for more on their own this year after having a summer job, but still gets $100 "fun money". We are paying Greek dues and essentials mentioned above, still roughly $1000 a month.
Anonymous wrote:$200 a month but with the caveat that if you only spend $80 in October, then in November you're made whole with $120. Stanford and Berkeley
Anonymous wrote:don't nickel and dime your kids to prove a point.
eating on campus sucks and they don't want to eat there.