College Kids -- spending money?

[christineann]

Both of my kids worked full time during the summers and part-time during high school and college. During college, they worked at the university, which made it possible to schedule around classes (RA, tutor, work study in an office), and my son managed a sandwich shop on the weekends. They were able to manage full class loads and part-time jobs and keep their grades up (and have a great time), like so many other students, and it paid off.

There is a lot of competition for jobs, and good grades aren't enough for many employers. On the job experience and time management are great on resumes.

I would also add that work study is a great way to get to know the faculty at a university outside the classroom. They made sure my kids knew about new grants and scholarship awards and wrote their recommendations to go with the applications (and also were their job references when they graduated)

 

[KKB]

I think he qualifies for about $1800/yr (max) so max $200/month.

 

[MickeyMouseCD524]

I'm a junior in college with on campus jobs. My parents give me $50 a week mainly because I have to metro on the weekends for one of my jobs. Usually I only end up spending $25 a week for a couple snacks and we usually go out for pizza on fridays. I have an unlimited meal plan too and the only food I actually buy are granola bars, oreos, and now that it's colder I'm picking up a couple cans of soup. Don't let her buy from the school grocery store I know it's convenient, but mine is way over priced so I usually wait until my friends make a target run or something. And every now and again we'll go out out and go to like the movies, but I think if you did between $30-50 a week you should be fine. There will be weeks where she'll never touch it though. Hope this helps! Best of Luck to Her!

 

[Pembo]

Ds is a freshman this year. He worked in high school and saved so he now lives off that. He is quite frugal with his own money. I do send him $40 every couple weeks along with a care package.

His job on campus is giving private guitar lessons to a girl from Saudi Arabia. She pays him $10 a week.

 

[MrsPete]

Another "no spending money" family here:

We are paying for our daughters' college educations. That is, we're paying tuition and fees, dorm and meal plan. Now that our oldest lives off-campus, we're giving her the equivalent of the dorm and meal plans, and it's about the equivalent of her apartment and meal plan -- except the summer costs, but that's another topic. Most of her books are rentals, included in her college tuition; she's responsible for the now-and-then book that isnt included, as well as her school supplies. We pay her car insurance and maintenance; we give her gas money to get her to nursing clinicals (which are an hour one way), but she's responsible for her own around-town driving costs. She'll graduate debt-free, and she understands that's a very good thing.

We expect her to work in the summer and part-time during the school year to pay for her spending money. She's never complained that she didn't have enough. I don't think she's putting away loads for the future, but she's keeping her head above water.

We're taking care of all her needs, while she's responsible for her wants.

 

[Savikins]

I'm a junior in college. I have a full ride scholarship, so my parents don't pay for any of my tuition or books. I don't receive any spending money, but I get free room and board, any home cooked meals I wish to be part of, and transportation to and from school (I don't have a car/don't drive). My spending money comes from my part time job.

 

[Patience]

My daughter is also involved in a sport that takes up a lot of her time in addition to making excellent grades in a challenging major. She needs great grades to get into the graduate program she wants and is very focused. We understand that she has no time for a job during the school year. She does work full time in the summers but over the Christmas break this year she did an unpaid internship that she enjoyed very much. We pay for pretty much everything including her tuition and other university fees, her apartment which includes utilities in the rent, and her food. Her generous grandmother gives her $100 a month for spending money and has done so since her freshman year.

 

[DebMcDonald]

I do not give any spending money. My DD works during the summer and during winter break and banks that money to spend throughout the year at college. We also pay the majority of college and her car insurance/expenses, other than gas.

 

[3boymthr]

I haven't given DS a dime in cash since he started school. He has a part time job and he uses what he earns from that to keep himself entertained and fed over and above what is covered by his meal plan (14 meals and $150 credit for use at the campus coffee shops). His job (beer hawker) pays well so he has more free cash than I do. With football season over the job is suspended for the time being (will start up again when the Revolution's soccer season starts in a couple months) so he's supposed to look for a campus job this semester. Considering he complains about being bored, I'm really really hoping he gets a campus job. His average take home for his job would be equal to a little over $100/week.

I will note that his job hours aren't consistent (home games only) so I have bought him a coat and a few pieces of required equipment for school when he was between games and didn't have enough cash.

 

[Annadesu]

If your kids are into clubs or sports, they also try to throw in "field trips" and "special equipment", etc. Giving them $100 a month is fine sounding, imo. You never know when something will come up.

That being said, encourage them to get a job during the summer.

 

[megsoro]

I'm in the camp of no money allocated weekly/monthly. I have paid my own way for school and my parents have helped financially when they could. The best thing I parents ever did was make me get a job at 16. Although I paid for most things, my parents helped with trips etc sponsored by the school. We had an adventure club that did discounted trips through out the region. Most trips were under $200 for a weekend full of activities. My mom gave me $500 a year for those types of events.

 

[smadath]

Way back when I was in college, I was in the work/study program and had an on campus job for 10-15 hours per week. May parents would send money here and there (Birthday, Holidays, occasionally "just because"), usually for $25-$50.

They also gave me an "emergency" credit card, linked to their bank account, with a $500 limit. (this was before everyone and their Grandmother had their own credit card! )

Also, in my opinion it depends on where your DD is going to school. I went to college in a small town out in the middle of nowhere. So, not much to spend money on except the occasional pizza. If the school is the middle of a city, there's a lot more stuff to do!

 

[Marymom]

I do not provide "fun" money for my college aged children. My freshman daughter's meal plan covers about 1 meal a day so I do provide her with monthly food money for groceries, hygiene items and eating out. It is 160 a month as that is the price difference from her meal plan to the unlimited meal plan at my son's university. She has had no complaints and after comparing what she gets to her roommates and friends, I can see why. I live in a tourist area with great seasonal summer employment so it is expected to have a summer job to pay for fun.

 

[OnceUponATime33]

I'm a freshman in college. I took out student loans for my tuition/dorm costs. My aunt and uncle paid for my meal plan, and my grandma sends $1000 check to the school every semester, but that is the only help I get regarded tuition.

My mom stocked me up on hygiene products and snacks before I left. She also gave me $50/month for fun money, but our deal was that she would do that as my high school graduation gift.

I haven't felt like I needed more money. I don't eat out, I just use the unlimited meal plan, and I try to participate in the school events rather than looking for fun that costs too much money.

Every kid is different, but I know alot of kids at my school get everything (tuition, car, etc.) paid for, and then on top of all that they get spending money. They usually spend that money on alcohol or other things like that. I wouldn't recommend giving your kid too much spending money - give them enough for what they need and maybe one day out a month that they can go see a movie or bowling...but if you give them too much, it's probable that the money will be going down the drain on stupid things.

 

[TwoMisfits]

If it's for fun money, I'd give $0. I paid my own books and my own expenses at college and I worked full time as a lifeguard every summer to do it. Now, my parents did pay for my car insurance and any work my car needed (oil changes and stuff - we had a cosigned credit card that only had a $500 limit and got any car work put on it - built me 4 years of great credit that served me well later when I got my own 1st card, they paid the gas and tolls for my trips home to them (it was a 560-mile round trip I'd make every 3 weeks), and they restocked me with snacks and soda and did my laundry when I'd come home.

I should add - I got a full ride with most of my living expenses paid (multiple scholarships), so my parents were only chipping in $900/year for my whole college education. And the car was a nice used Plymouth Sundance - my parents always had a deal with each of their kids that we'd get either a car or in-state college paid for as our graduation gift (if you got a free ride, you got a car...although no promise of a new one. My parents totally made out on this deal over the years...I'm giving the same deal to my kids...

 

[Kriii]

500.00 per month here. Child's job is to earn good grades and maintain scholarships. She does have a part time job that pays little but is helpful to her future career aspirations. Money is for the many misc expenses that pop up.

 

[polkadotminnie]

Twomisfits- We did the same offer for the car for our kids. I am now paying a car payment instead of expensive tuition/room...
A great deal! I do give her $100/month for necessities and she works in the summer for fun money.

 

[Puffy2]

None. I paid for tuition, books, fees, most meals. Both children worked on campus part time during their college time. It built their resume and taught them responsibility. They earned about $150 to $200 a month and this was plenty for gas and the extras they wanted and left some for savings.

 

[SamSam]

I admit I only read the first page.
We had two kids, both of them had to earn their spending money during the summer. We paid tuition, meals, housing, books, etc.. they paid all their extra expenses. They also had to pay their own car insurance...paid off because they were very careful with their driving and cars.

 

[edk35]

Here in MD CHA CHING CHA CHING. My son is a Jr. in an apt. with 3 others. Each boy's rent is 860 bucks. They each have a room and there are 2 bathrooms, kitchen and living room. They are furnished and includes electric/water/cable. They split the internet. He is our middle child. Already went thru this with our dd who graduated Dec. of 2013. We have a 10th grade son too so ONE MORE TO GO.

They both have/had part time jobs but WE STILL give/gave them money. IT IS NEVER ENDING. As kids get older....THEY ARE FAR MORE EXPENSIVE.