College Kid Monthly Spending Amount

[dfchelbay]

What is a good amount of money for spending each month? Tuition, room and board, food, etc. is all paid for. This would just be pocket money. How much is a good amount? DH and I cannot agree on a dollar amount. All suggestions and advice are welcome. Thanks all.

 

[mom2val]

I think it all depends.....Will this be your childs only source of money or will they have a part time job? Do they already have a bank account with some money- maybe from a summer job? I easily spent $400 -$500 a month while in college '92-'96 eating out, going out to bars, movies, bowling, new clothes, gas for my car, & misc . I worked so my parents gave me $40 a week to help supplement.

 

[Darcy03231]

Well, in my household its whatever the child earns.

If everything else is paid for there really is no need to provide spending money, other than maybe a roll of quarters for laundry once a month.

If your child doesn't have a job, I would say $25/wk

 

[eliza61]

My son is a sophomore this year, he has a part time job now butlast year he had a horrible time staying on budget. He goes to school 6 hours away so we usually keep his account above 100 bucks. One phone call was so funny to me.

Son: Mom, my atm card isn't working.
Me: What do you mean it's not working?
Son: I can't get any money out of the thing. I've gone to 2 banks.
Me: Well what does it do when you try?
Son: It keeps telling me "insufficient funds"
Me (trying not to laugh hysterically): Dude, your card is working fine, you have no money.
Son: What am I supposed to do, I supposed to hang out tonight.
Me: Not anymore!

My kids always had savings account but I never did get them checking accounts so evidently he wasn't budgeting and balancing his account.

My son is special needs (aspergers) so we did not want him to work at all his freshmen year.

 

[ekmom]

My daughter graduated from college in 2009 and my son is currently in his 4th year. We paid for tuition, room and board, books, etc. Spending money was totally up to them. They had savings from summer jobs and had various part time on campus jobs.

 

[scrapquitler]

Well, in my household its whatever the child earns.

That was the budget when I was a college student. My Mom would send me $20 once in while, but for the most part, the only cash I had to spend during the school year was whatever I made during my summer job.

 

[Mary•Poppins]

My son is a sophomore this year, he has a part time job now butlast year he had a horrible time staying on budget. He goes to school 6 hours away so we usually keep his account above 100 bucks. One phone call was so funny to me.

Son: Mom, my atm card isn't working.
Me: What do you mean it's not working?
Son: I can't get any money out of the thing. I've gone to 2 banks.
Me: Well what does it do when you try?
Son: It keeps telling me "insufficient funds"
Me (trying not to laugh hysterically): Dude, your card is working fine, you have no money.
Son: What am I supposed to do, I supposed to hang out tonight.
Me: Not anymore!

My kids always had savings account but I never did get them checking accounts so evidently he wasn't budgeting and balancing his account.

My son is special needs (aspergers) so we did not want him to work at all his freshmen year.

Thank you for this giggle! We have just set up checking accounts for our two oldest sons and before we sat them down and showed them how to balance their check books ... I could see this same conversation going on in our house!!!!

 

[msmayor]

Well, in my household its whatever the child earns.

If everything else is paid for there really is no need to provide spending money, other than maybe a roll of quarters for laundry once a month.

If your child doesn't have a job, I would say $25/wk

Same here. When our daughter left for her freshman year last August, we sat down with her and her total bank account. We helped her work out a budget that accounted for her books and supplies FIRST (most important, and part of her responsibility). She set a 'cushion' amount that she wanted to make sure she'd have at the end of the year.

Once those important expenses were accounted for, what was left was divided by the number of weeks she'd be at school so she knew how much 'spending' money she had. It worked out to about $35/week.

The important thing is she knew it was HER money, and that no more was coming from us. If she shopped smart with her supplies, she'd have more to work with. If she spent only $20 one week, she'd have $15 extra to spend another week.

Along the way, she became very smart about her money since she knew the Bank of Mom and Dad wasn't available.

 

[stephbillalec]

When I was in college my mom didn't give me any $. Since she was a single parent, she didn't have any to give me anyway!
I was responsible for paying for my books each semester and for any additional expenses (aka "fun money"). I used my summer job income and I got an on campus job where I worked about 10-15 hours per week.
I think you guys are very generous. Your son/daughter is very lucky!

 

[mjkacmom]

When I was in college my mom didn't give me any $. Since she was a single parent, she didn't have any to give me anyway!
I was responsible for paying for my books each semester and for any additional expenses (aka "fun money"). I used my summer job income and I got an on campus job where I worked about 10-15 hours per week.
I think you guys are very generous. Your son/daughter is very lucky!

My parents were pretty well off, paid for college and books, plus clothes. I was not allowed to get a PT job during the school year. However, I was required to get a summer job, and make my spending money for the year.

 

[punkin]

What is a good amount of money for spending each month? Tuition, room and board, food, etc. is all paid for. This would just be pocket money. How much is a good amount? DH and I cannot agree on a dollar amount. All suggestions and advice are welcome. Thanks all.

That's all I am paying for. I will also pay for books. Everything else comes out of DD's account (money from gifts, earnings, etc.). Once that money is gone, either she gets a job or stays home.

 

[disney4us2002]

All of the colleges we've looked at with our sons have been cashless. We put a certain amount on his college debit card and he can use it for books, supplies, snacks, subs, coffees, vending machines and even laundry all on campus. For extras like pizza delivery, etc. we have given him about $75 per month. When I get paid biweekly, I usually deposit some into his bank acct and I send him packages from home every month or so and I usually throw in a $20 or an itunes card, etc. Kids love mail and packages!

 

[disneymarie]

What is a good amount of money for spending each month? Tuition, room and board, food, etc. is all paid for. This would just be pocket money. How much is a good amount? DH and I cannot agree on a dollar amount. All suggestions and advice are welcome. Thanks all.

I think half from parents should be matched by the student. Too much time on their hands. It teaches many lessons too.

I was a single mom and went back with a family to take care of, work, and go to school. I graduated the top 1% of my class.
Classes are 50 minutes 3 times a week, or a night class once a week, and the 2 day a week classes are only 75 minutes.

Taking good notes, do the assignments and don't wear pjs to class, ask the instructor any questions on assignments and fly through college.
I never had the kind of math they do now, and my dd in 6th grade showed me how to do the equation.....

Working on campus is an option too, or nearby bookstore, starbucks, anywhere is a great ethic to teach...Even if it is 3 days pt time that is still a few hundred a month. My son does security for two evenings 4 hrs and makes $380 a month.

 

[ugadog99]

My daughter has workstudy as part of her financial aid. Of course, that amount is only earned when one actually works. (I pay the remainder of her college bill once all the financial aid is distributed and buy her books.) Her workstudy money is her spending money. I do take her out monthly to buy items she needs: can drinks, bottled water, Crystal Light packets, coffee, sugar, in room snacks, and toiletries. Every other week or so I get her pershiable items: cheese sticks, fruit, yogurt, etc. She does have a dining plan, but some days she is so busy that breakfast and a light lunch in the room save a lot of time. Her workstudy money is for whatever else she might want. Fortunately for her (and me) she is not much on going out to eat, to the clubs, etc. She can build a decent amount in her account with just her library job.

 

[ilovepete]

My mom gave me $200 a month. And I was in college not long ago so that's not too outdated haha.

 

[patchchild]

Allowance for college kids? No way! Now I feel cheated.

Seriously though, I can't imagine keeping up an allowance while kids are in college. Yup, hanging out with friend or going out to eat is fun, but if room and board is paid for, then all that is luxury. If they want luxuries, they can get a job. Colleges have jobs available all the time, fitting all schedules.

 

[Tink9295]

My DS is a freshman this year. The tuition includes $150.00 spending money per semester on their ID card. We hope he doesn't blow through that. He knows he can't. We can add to the card if he needs it.

 

[ajh88]

Generally, I agree that "none" is about appropriate - campus jobs are great for spending money (and you can't beat the hours - no evenings or weekends usually!).

I did not get an allowance while in college - I got a stipend from my scholarship, I had an on-campus job, and a part-time job at a doctor's office (I worked full time there during summers). It provided me with more than enough pocket money, plus enough to buy a car (that I still have 16 years later!). On the other hand, I lived at home, so my living expenses were zero. I bought my own gas and I bought groceries on occasion, but that was all in terms of cost of living (no rent, no utilities, etc.).

If it were my child and they were away from home (especially far away, like more than an hour or so), I'd want to make sure they at least had emergency access to $100 or so. But, I wouldn't be subsidizing their Friday night beer runs, KWIM? Maybe if you sent $50 a month regularly then a "surprise" amount some other times (or a gift card for gas, groceries, pizza, etc) as a bonus.

 

[livndisney]

Would someone please call my parents? I paid for my school, books, spending money etc.

 

[superme80]

Mine was whatever bank of Grandma wanted to give me. I worked part time half of each semester and full time in the summer. My parents only gave me money as a huge treat. IE I had a show opening and because of that I couldn't work and my dad felt sorry for me. I would say $25 a week is good. It will teach them what they really need to do. When I was younger and smarter I used to take $20 a week out and only spend that. It would last me all week! Ah the good ol days!