<p>kathiep, I'm glad to see everything is ok now.</p>
<p>I'm meaner than all of you. First, my sons' accounts are linked to mine, so I have access to watching how they spend their money (although they can't see mine). That meant that when my son did the overdraft dance, I could get money in right away so that it didn't keep bouncing back and forth--but I then charged him those fees out of his allowance. He doesn't get much ($40/week), so $60 was a BIG setback for him.</p>
<p>My kids don't get an allowance so when they screw up, they are doing it with their money. Both my kids earn just over $50 a week from their college jobs so they count their pennies. Actually, my son just hoards them. Daughter took a trip to Peru for her Spring break and wiped out her savings.</p>
<p>I don't mind that my son screwed up and will pay for it, that's how you learn stuff. It's not my money. If I gave them an allowance that would have been a different story but it seems kind of funny to give adults allowances anyway.</p>
<p>I understand where you are coming from on the allowance, but they are both just freshman, and I was so absolutely broke the whole time I was in college that I guess I'm one of those parents who wants to help a bit. One son does have a college job and the other, if he doesn't next year, won't get the allowance. </p>
<p>For me, it got so old worrying about keeping my food budget to $15/week and cleaning the kitchen and bathroom of the rooming house so that my room was $50/month rather than $100--if I can make it a bit easier on them, it's worth it.</p>
<p>Everyone parents differently and everyones situation is different. Our take was that our kids would need to work over the summer and get minimal college jobs so they could have their own spending money. We have a college freshman and senior. Both are thrifty and hang out with kids that are not interested in clubbing or spending much money AND their colleges are not in big cities. We just think they value money more if it's their own.</p>
<p>It's interesting to see what our kids do with about the same amount of spending money. My son probably spends $15 a week at the most. My daughter carefully picks a concert here or there but not very often. She spends the bulk of any savings on travel. Both have required meal plans and end up with unwanted credit at the end of the term. My daughters college will give a refund at the end of the year but my son will just lose that money. No choice for freshman about which plan to get. Next year we'll go down to the 15 meal a week plan.</p>
<p>As we're winding down with our son's first year of college I'm wondering if it was a good idea for him to have a job while at college. For one thing, he could have lived off his summer savings. He has not even touched that money and has hardly used his college job money. Because he had to work every weekend or switch with someone he missed out on some outings that his friends went on. Something to talk about over the summer.</p>
<p>dstark: you should think about an on-line high int. savings account like etrade bank, citi, ING or HSBC. Then set up a monthly deposit in her checking account. And get her a credit card.</p>
<p>Simba, I will think about your suggestions. Thanks.</p>