How much spending money does a college student need?
August 11, 2012 2:02 PM Subscribe
Monthly "allowance" for a college student?
posted by Sweetie Darling to Work & Money (30 answers total) 7 users marked this as a favorite
My Little Darling daughter leaves for college for the first time next week. She is using her savings for her personal expenses but has asked me to help her set up an "allowance" system - a monthly transfer from a relatively inaccessible savings account - so she isn't tempted by having a large amount of money in her checking account at the beginning of the semester. (Which is awesomely self-aware of her.)
Trouble is, I'm not sure what amount is reasonable. I'd like it to be enough to give her some freedom to eat out occasionally or go to a movie, pay for her own iTunes purchases and the occasional shopping trip, etc. But since this is a teachable moment and she will likely spend whatever she has, I don't want it to be too much. How does $50 a week / $200 a month sound?
Other facts that might be relevant: She's attending a small liberal-arts college in a small town. We will put money on a campus-based debit card to cover her books and school supplies. She will live in a dorm and be on a full meal plan. She enjoys shopping but has modest tastes, and won't have a car. I'm happy to provide other info if needed.