How college students spend their money

<p>get it from parents, will get a PT job next year (hopefully a relatively easy job as a grader for a class I took this year), spend money mostly on transportation + random student events + sometimes food (from restaurants and stuff)</p>

<p>LOL @ galoisien.</p>

<p>It amazes how people live in their own little perfect worlds.</p>

<p>I spend my money on books, music, clothes, groceries and of course rent and bills. Then, I save whatever's left over.</p>

<p><em>makes it rain</em></p>

<p>45% in stocks, 45% in cash (savings), 10% in checking, with -5% of that in credit card debt.</p>

<p>Edit: On this month's credit card: Gas, fast food, one textbook (that i bought solely to do some homework questions GRR), Street Fighter 4, UConn hoodie, 9mm ammunition.</p>

<p>45% in stocks? Are you serious? How much did you lose over 2008?</p>

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Galoisien, you must be blessed with time but most of my friends and I simply don't have the time to send cooking.

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<p>It takes like 1 hour to take the bus, get your groceries for a week, and come back.</p>

<p>It takes a few minutes to wash your raw food.
A minute to pour out the flour, salt and chili powder.
It takes 30-60 seconds each to pat down each chicken piece with flour. 5-15 seconds tops if you're really experienced.
A minute to prepare the baking tray.
A minute more to quickly brush the oil on the chicken pieces.</p>

<p>Then you can just study or whatever for that 1 hour it's baking in the oven.</p>

<p>Explain how this is more time consuming than eating out?</p>

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It amazes how people live in their own little perfect worlds.

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<p>What perfect world again? Unlike some spoilt/wealthy students, who apparently can afford to eat out whenever they want, I come to school with only about 1500 dollars -- for food, books and whatever.</p>

<p>1000 dollars was earned myself, supplemented with scholarship money. </p>

<p>You must be living in your own perfect world if you can afford to eat out so often and yet not be bankrupt.</p>

<p>^My world is no less perfect than yours where everyone has the same schedule and the time to cook.</p>

<p>Congrats, you've joined a long list of people who whine about other people's money.</p>

<p>No, rather I whine how they don't know how to spend it economically with the highest marginal benefit per unit of marginal cost. Thus, by failing to spend their money economically, they contribute to economic wastage and thereby, the recession.</p>

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^My world is no less perfect than yours where everyone has the same schedule and the time to cook.

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<p>So you people don't even have the time to spend 30 mins cooking each night? Really? </p>

<p>So .... you people will save all that time spending 2 hours (when you count travelling time) eating out?</p>

<p>"No, rather I whine how they don't know how to spend it economically with the highest marginal benefit per unit of marginal cost. Thus, by failing to spend their money economically, they contribute to economic wastage and thereby, the recession."</p>

<p>So, when you cook this meal for yourself, how many wages + tips are you providing in place of not going to a restaurant? Way to be a great economic driver. You are a godsend.</p>

<p>Please stop with the self-righteous economic-friendly BS. You are no more special because you can manage to cook a $3 piece of fried chicken over someone who has every right to spend $30 at a restaurant.</p>

<p>Hopefully you haven't forgotten this little thing called opportunity cost.</p>

<p>Parable</a> of the broken window - Wikipedia, the free encyclopedia</p>

<p>well, also there's this little thing called socializing, a legitimate reason to eat out or at a dining hall..</p>

<p>galoisien - you're linking eating out with contributing to economic recesssion? Lol I sure hope not... by eating out, they're contributing to businesses (diners, restaurants, etc) just like by staying in, you're saving money and contributing a bit to grocery stores.</p>

<p>The socializing argument is BS. Last night my friends and I ate in - none of us can cook, but this is what we had and how long is took for us to make it:</p>

<p>Chicken Nuggets - Box of 50 for $5.99, bake for 15 mins - we ate maybe half
Mashed potatoes - 6 potatoes, boil 'em until tender (25 mins max) then mash em
Salad - simple veggie salad, took my friend and I less than 7 mins</p>

<p>Even though it took almost 30 mins to make potatoes and 15 for the nuggets, most of that time was baking/boiling, we weren't even in the kitchen. my friend lives in an apartment, so she buys groceries and rarely eats at the dining hall. Nothing wrong with eating at the dining hall either - if you're parents are paying for a meal plan, use it!</p>

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Lol I sure hope not... by eating out, they're contributing to businesses (diners, restaurants, etc)

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<p>But the problem is that by eating out, you are contributing to what are usually inefficient, overpriced businesses. If you compare 30 dollars of eating in compared to 30 dollars of eating out, you will see that the marginal benefit of eating in is greater.</p>

<p>So since MB/MC is higher for eating in, eating out is economically inefficient, i.e. it contributes less to the economy per unit of money.</p>

<p>I can't speak for most students, but I suspect that when they do eat out, it's not usually to a fancy place, but some good cheap food...I guess it varies from college to college, but here in NYC, my friends and I find plenty of places to eat out at efficient, decently priced places. None of us are rich, and we don't eat out often either.
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If you compare 30 dollars of eating in compared to 30 dollars of eating out, you will see that the marginal benefit of eating in is greater.

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I understand the economic reasoning behind your argument, but this is what you're forgetting:
1. The average college kid can't cook, is too lazy/busy to learn
2. Sure we can all make simple things like mashed potatoes, fried chicken and pasta, but we don't want that EVERY night, we want good food and a diverse diet
3. Eating out is fun as an occasional treat, esp after crappy dorm food
4. Buying groceries + Cooking meal + eating + cleaning up after yourself requires more time than walking to the nearest diner and eating a meal, then leaving. Eating out is more time efficient
5. I don't know how to make Korean BBQ, but the Korean BBQ place I tried last week sure does - you can find all kinds of food at restaurants you don't make at home usually.</p>

<p>I do understand your reasoning, but i also understand why people eat out...don't you ever eat out yourself? occasionally? I know I do. It's fun :) But my chicken nugget/mashed potatoes get togethers in an apartment with my friends is fun too.</p>

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1. The average college kid can't cook, is too lazy/busy to learn

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<p>The average CC'er is not the average college student.</p>

<p>I started out college (Aug 2008) not really knowing how to cook at all. (Beyond a few experiments.)</p>

<p>I picked up a great deal by asking on the Parents Cafe forum. LOL. And then reading theory and recipe online during break. Cooking theory isn't hard if you have a pre-existing background in science! It's essentially applied orgo in the kitchen.</p>

<p>Besides, we all have to start learning sometime ... especially since there will be a greater impetus to cook after you graduate, get a job, and <em>gasp</em> start families...</p>

<p>Plus, being able to cook your significant other's favourite foods whenever he/she's feeling down is very useful in a relationship. ;)</p>

<p>So...then what you're saying is it's ok for the average college kid to eat out regularly, but not the average CC uesr because he/she is smarter? ehh not really - having a high score on the SAT's and getting into a top 50 college doesn't have an impact on your cooking skills. And most of us haven't studied orgo :) but yeah, we do all have to learn to cook someday in the future, but as of now, eating out now and then is fun...</p>

<p>my boyfriend likes when i make him baked good (cupcakes, brownies, etc) but i can't make him a meal. fortunately we're both fine with baking frozen chicken nuggets lol.</p>

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Sure we can all make simple things like mashed potatoes, fried chicken and pasta, but we don't want that EVERY night, we want good food and a diverse diet

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<p>Yes, but you are also going to eat at places that serve relatively simple meals as well, unless you live near some sort of ethnic enclave (I find that ethnic markets tend to be lower-priced).</p>

<p>Just add recipes to your arsenal as you go. Eventually a lot of things will be variations on a theme, or variations on pre-existing techniques. It'll just be like choosing outfits for the day.</p>

<p>Also, I find that the average non-American college student knows how to cook very well. </p>

<p>I have a lot of international students at my dorm, a good portion being the pampered upper-class kind (especially with the French students), and yet nearly all of them know how to cook spectacularly -- and eat out only for social events and parties.</p>

<p>It's rather uncanny.</p>

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having a high score on the SAT's and getting into a top 50 college doesn't have an impact on your cooking skills.

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<p>Well the average CC'er should have greater curiosity, greater sense of intuition, greater willingness to experiment, be better at taking initiative and be better at self-teaching...and be better at learning in general...</p>

<p>why are you talking about the average CC'er or the average International student all of a sudden? You were arguing that it's illogical for the average American college student to eat out, and I'm saying no it's not. even if the average person on this site is more willing to learn or whatever - so what? there are plenty of reasons to eat out, I listed them above. How people eat in France or whatever is irrelevant. </p>

<p>Why does it bother you how they spend their money? Why do you think eating out ---> recession? These kids aren't taking out mortgages they can't afford, they're going to the local diner and having lunch. Live and let live. If you hate restaurant food, don't eat out, but there's nothing wrong with others who enjoy the experience.</p>

<p>I am a parent wondering what the average college student spends per week if they have a complete meal plan on campus. My daughter goes to school at Sarah Lawrence and enjoys the close proximity to NYC. She is enjoying the arts in town, but it is costly. What is a reasonable amount?</p>

<p>Another point. As a parent, I would far rather see my daughter going out to eat in the city with friends on the weekend than hanging around a dorm room on some remote campus or going to frat parties or beer blasts. I just want the cost to be reasonable.</p>

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If you compare 30 dollars of eating in compared to 30 dollars of eating out, you will see that the marginal benefit of eating in is greater.</p>

<p>So since MB/MC is higher for eating in, eating out is economically inefficient, i.e. it contributes less to the economy per unit of money.

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<p>Contributes less to the economy?? As long as you spend $30 it doesn't matter what you spend the money on, it contributes the same amount to the economy. When you eat out you are supporting waiters, chefs, hosts, etc.</p>

<p>I don't know what the original argument of this was but, eating out does not contribute less to the economy than eating in. It's just cheaper to eat in because you make the food yourself.</p>