Budget for college girl

[SnowWhite2]

DD is going off to college this fall and I was wondering how much I should give her for incidentals (shampoo, toothpaste, tampons, etc) and fun money? She is too far away to come home except for winter break so there will be no stocking up on trips home.

I was very lucky that I had an aunt that sent me money every month along with my parents. But that was so long ago and I don't remember how much it was.

I already give her a budget of $300/season (summer/winter) for clothing. Whatever I give her she will spend so I don't want to be too generous

 

[UCFALUM]

Ask her for her budget and what she will be doing with the $$.
My father parceled out my college savings to me but I did my own budget. I have always had a budget.*never too early*

 

[disykat]

I agree - she needs to make a budget. My parents had me do all school payments etc. I sat down with them each semester and laid out my plans and all the costs associated with them and they wrote me a check. It was a good experience. In my case, I took care of all my own spending with money from all the babysitting and summer jobs I'd done.

For my son, it's easier for me to do the payments on line. However, I still make him sit down and go over his plans and the costs with me each semester before I pay. He's usually home on a break when those things come due anyway. He also has had summer jobs and yardwork, so has plenty of money for his own spending.

Budgets will vary dramatically by family. Some families like mine will expect minimal spending, some will budget more money for entertainment and the latte factor.

 

[imsayin]

It will also depend on if she is near a big city or in the middle of nowhere. More things to do/spend in a city.

 

[clh2]

It will also depend on if she is near a big city or in the middle of nowhere. More things to do/spend in a city.

This is not the way to determine a budget. Just because a bigger city means more opportunies, doesn't mean there would be more money to spend. At least this is what I'm telling my dd as she heads out to college.

Op- don't forget about laundry(if her school doesn't have free washers/dryers).

 

[addicted2dizney]

My DD is heading to college for the first time the fall. I am sending her away with all her toiletries, meds, makeup, laundry supplies... etc to get her through the first semester.

She has had a job so has a few thousand saved in the bank. (closely monitored by me.. she's not a spender unless it's my money! lol!) I am giving her $30 a week in her atm account to cover laundry and misc expenses. hopefully the extra cup of coffee or hair gel etc... will not amount to much and she can budget out of that. My mom is also sending her money monthly but it won't change things a whole lot for her. I'm curious to hear what others are doing as well.

 

[Gigi22]

Don't forget transportation costs too. Even if you stay in a college dorm, you will still need $$$ for local transportation, and trips home.

 

[Lucille1963]

This is not the way to determine a budget. Just because a bigger city means more opportunies, doesn't mean there would be more money to spend. At least this is what I'm telling my dd as she heads out to college.

Depending on the area, the cost of staples can be more and depending upon the area, if she has a car and the availability of public transportation, shopping the sales and stocking up could me much more difficult.

 

[MSSANDRA]

So many things to consider. Is she living in a dorm? How large is the campus? What is the required dinning plan?

DS attends a university with a huge campus. In reality, they is little "NEED" to go off except to restock personal hygiene products for a much lower cost. Food plans are required, and you can add money at anytime to their account to cover laundry, all school needs etc. There is very low cost public transportation to get him to anywhere he would need to go off campus but he has a car.

HOWEVER....you want her to have enough money to be socially involved. You want her to be able to chip in for late night pizza, join both school sponsored and non official groups for things like movies, art shows, plays etc.

You also was her to have access to money in case of an emergency trip home. Of course you can transfer money to her personal account very easily if you have on line banking.

I would put a few hundred in her account and see how it goes and then adjust accordingly.

 

[DVCLiz]

This is not the way to determine a budget. Just because a bigger city means more opportunies, doesn't mean there would be more money to spend. At least this is what I'm telling my dd as she heads out to college.

Op- don't forget about laundry(if her school doesn't have free washers/dryers).

Of course it does. College in a bigger city would absolutely require more money than college in a small town - if you read the OP she is asking not only about incidentals but also about fun money. Just because you are giving your daughter a set amount doesn't mean there might not be other parents who do it differently based on the real costs involved.

OP, there are some things you'll know in advance (costs of the "basics") and some you won't. Will she have a car or other transportation costs? Will she join a sorority and have dues? Will she have a job on campus or a summer job with savings?

I would tend to be more generous the first semester and ask her to keep pretty careful track of her actual expenses, as well as things she felt she could or couldn't afford easily. Then at the end of the first semester you'll have some real numbers to work with and you'll be able to decide more easily what you will and won't cover.

 

[DVCLiz]

So many things to consider. Is she living in a dorm? How large is the campus? What is the required dinning plan?

DS attends a university with a huge campus. In reality, they is little "NEED" to go off except to restock personal hygiene products for a much lower cost. Food plans are required, and you can add money at anytime to their account to cover laundry, all school needs etc. There is very low cost public transportation to get him to anywhere he would need to go off campus but he has a car.

HOWEVER....you want her to have enough money to be socially involved. You want her to be able to chip in for late night pizza, join both school sponsored and non official groups for things like movies, art shows, plays etc.

You also was her to have access to money in case of an emergency trip home. Of course you can transfer money to her personal account very easily if you have on line banking.

I would put a few hundred in her account and see how it goes and then adjust accordingly.

 

[mom2rose&john]

DD is going off to college this fall and I was wondering how much I should give her for incidentals (shampoo, toothpaste, tampons, etc) and fun money? She is too far away to come home except for winter break so there will be no stocking up on trips home.

I was very lucky that I had an aunt that sent me money every month along with my parents. But that was so long ago and I don't remember how much it was.

I already give her a budget of $300/season (summer/winter) for clothing. Whatever I give her she will spend so I don't want to be too generous

Do you want to give her the money by semester, month or weekly? Have you been to orientation yet? You could ask a resident what a good starting point would be. I would think $25-$50 per week depending on area and type of meal plan would be a good starting point. I would also encourage a pre-set limit credit card for emergency need only. It's good for a college student to learn how to budget early in life. And make sure she is well aware that once it's gone it's gone so choose wisely. Could you update on your decision. I am curious how much expenses have changes since I went to college. TIA. I wish her much success.

 

[MrsPete]

We're paying our daughter's tuition and fees, dorm and meal plan. She has everything she needs for her dorm (and I didn't have much to do with that -- it was her project), including computer and printer. A week before she leaves, we'll do a shopping trip for consumables: shampoo, deodorant, school supplies. I'll get her a couple pairs of new jeans and sweatshirts, and she already has a new parka and snow boots (she's going to the mountains). She'll be able to graduate without debt.

But we expect her to take care of her own pocket money. We talked about working during the summer /working part time during school. We talked about budgeting and saving. How much she has is up to her.

When she's a junior /senior, she'll need a car for student nursing, and at that point she'll need to add transportation costs to her budget, but that's two years away.

 

[punkin]

I don't give my DD pocket money. I pay for room and board as well as tuition. She will not starve and has a place to live. I send her to school at the beginning of the semester with all necessary toiletries. If she wants to go out and have fun, it has to be on her dime. I paid for books first semester, but she has paid for them every semester since.

She is currently taking a summer studying abroad. She got a half scholarship and her grandfather paid half. Grandma provided some spending money and the rest she is covering herself. I did pay the program application fee and passport/visa expenses.

Why is it necessary for me to pay for "social" things? It is my obligation (IMO) to pay for school, not see that she has fun there.

 

[Chelley00]

We've budgeted $100 a month for DS. He's paying for half his schooling costs so he can use the money we send him either for incidentals/entertainment or to put towards his tuition.

 

[kellydizfan]

Can't you send her supplies in the mail? I would send a care package a week out - little stuff for her so it won't cost a bundle to ship. It would be fun for her to get stuff in the mail from you. I have been stocking up for my DD when she heads to Hofstra next month. We have shampoo, laundry detergent, etc. all in a bag ready to go along with razers, etc.

 

[Lucille1963]

Can't you send her supplies in the mail? I would send a care package a week out - little stuff for her so it won't cost a bundle to ship. It would be fun for her to get stuff in the mail from you. I have been stocking up for my DD when she heads to Hofstra next month. We have shampoo, laundry detergent, etc. all in a bag ready to go along with razers, etc.

Please follow the USPS rules regarding sending liquids. I recently had a beautiful gift absolutely ruined by someone else's careless packaging of liquids, and I'm sure many other packages around it were ruined too. http://pe.usps.gov/text/dmm300/601.htm

You can scroll down to 3.4, but to paraphrase. The lids must be screw top (not a flip-top like many shampoos have), it must be wrapped in enough material that it will absorb all of the liquid should it leak (check out how many paper towels it takes to wipe up a whole bottle of shampoo), it should be packed in another sealed container (such as a can or plastic bag).

It might be easier to send a gift card to Target.

 

[monarchsfan16]

Disclaimer...I'm pretty low maintenance. I think throughout undergrad (I finished undergrad in '09), my "fun money" expenses averaged out to about $5 per week. Some weeks had no "fun" spending. Others were a bit more. And I funded it on my own with summer jobs, etc. My parents were paying for the classes, my room and meal plan. I paid for books and other spending money. BUT my campus had a LOT of low cost fun things to do. All sporting events were included in the mandatory fees that got lumped in with my tuition. I was able to see movies in the student union building for $2/movie. And they weren't old ones...they were the ones that were between the movie theater and coming out on DVD.

Toiletries only need replacing every few months. If you want to pay for those, I like the suggestion of a gift card to Target or Wal Mart. Maybe $25/month?

 

[DVCLiz]

I don't give my DD pocket money. I pay for room and board as well as tuition. She will not starve and has a place to live. I send her to school at the beginning of the semester with all necessary toiletries. If she wants to go out and have fun, it has to be on her dime. I paid for books first semester, but she has paid for them every semester since.

She is currently taking a summer studying abroad. She got a half scholarship and her grandfather paid half. Grandma provided some spending money and the rest she is covering herself. I did pay the program application fee and passport/visa expenses.

Why is it necessary for me to pay for "social" things? It is my obligation (IMO) to pay for school, not see that she has fun there.

It's certainly not "necessary" but some people make different choices than you do. I'd have hated to send my daughter away to school with only room, board, tuition and a meal plan. I think that would have been a miserable experience for a college freshman. Just my choice...not right or wrong.

I wanted my daughter to be able to join a sorority, drive off campus, shop for clothes at the nearby outlet mall, go out for pizza off campus, etc. I was perfectly willing to pay for all that. I saw that as part of my obligation.

Any money she earned with school year and summer jobs was put into a savings account. She had a nice nest egg when she graduated. That was my choice. Again, not right or wrong.

 

[Patience]

My mother in law decided to give our daughter $100 per month while she is in college. We are paying for our daughter's college (not borrowing) and were intending to give her $100 per month ourselves for her spending money but, thanks to my MIL's generosity, we don't have to. Did I mention that my MIL is wonderful? She has it set up as an automatic bank transfer each month.