<p>So I really have no idea of what's typical... I worked over the summer and currently have a sizable bank account, but perhaps I'm going through it too quickly? I mean, I've definitely spent money on things I don't definitely need, but I figure at the rate I'm going, I won't go through all my money.</p>
<p>Anyways, in addition to room and board fees I paid (or rather, my parents paid for me... thank you mom and dad!) I've spent roughly 300 dollars. Too much? Typical? I dunno, what do you guys think?</p>
<p>Well, it's your money. It depends on how much you make, and what you want to use the money you make for. Do you want to save up for a car or graduate school or a downpayment on your first apartment? Is that $300 a big part of your paycheck? How does it measure up to what you're putting in savings? </p>
<p>I spent about 2x that much, including ~$20 a week "just for fun" (i.e. for a concert, movie, to eat out, etc.). But my parents supplement my spending cash because I am at school on a full scholarship.</p>
<p>It would depend on whether you have a meal plan or not. It is because it seems that groceries take a big chunk of the spendings (approximately $100/month) might seem about reasonable. It also has to account for whether you have a car on campus because of gas costs and parking permits and other fees. If you break it down, $300 a month is roughly $10 a day, which seems a bit much, but I'm not sure if that accounts for just "fun" money such as eating out with friends and stuff.</p>
<p>$300/semester? You are very good. My daughter tells me how frugal she is, and she spends ~$200 a month. That does not include hockey or some other tickets that would show up on her monthly college bill, which I pay for.</p>
<p>Mathwiz, I think it depends on where your college is located. If you're near a major city and you like to take advantage of the entertainment options offered there, you're going to spend more than a student at a rural campus would.</p>
<p>I think $300 a semester is perfectly reasonable. But I know that my daughter, at a rural college, spends less, and my son, who is near a major city, spends more.</p>
<p>They both also spend considerable amounts of (my) money when they're home. In fact, they both do most of their shopping here, and not just for reasons of convenience. Mom's credit card is as attractive as the large malls in our vicinity. I have come to suspect, in fact, that shopping is the main reason why they come home for breaks at all.</p>
<p>Of course, there are individual differences. Oldfort's daughter is at the same college as my daughter but seems to spend considerably more. Possibly this is because my daughter is too lazy to venture off campus very often, as well as because she does all her shopping at home.</p>
<p>Sweet. Thanks guys! I was surprised when I figured out I had actually spent $300 since August. It felt like I'd spent much less, but apparently I'm not ruining myself financially, so it's all good.</p>
<p>My son is a freshman living in the dorms with a meal plan and spent about $400 this semester. He spent $100 of this on a bike. His spending was at about $0 until he bought the bike and added a girlfriend who doesn't like dorm food. Still, he has most of his summer savings in the bank.</p>
<p>My son spent $200/month, but he had a couple of "big ticket" items that he had to buy (ie: some computer cable or part needed to be replaced). I think that what he spent was reasonable. He still has enough at this pace to last until his next summer job. He could have asked us to pitch in for some of the educational items that he needed, or a few medical presriptions that he needed to fill, but he did not. It is all included in that $200/mos.</p>
<p>I think around 50-100/week is OK. That gives $10--20 each to go out Fri and Sat night and do something and $5-$10/day for walking around money. That will buy a Starbucks and maybe a cheap meal out or a magazine etc. Not much really.</p>
<p>well.....it really does depend on all sorts of variables (e.g., are you in an expensive metropolitan area?), but I think $300/term is very reasonable.</p>
<p>Sophomore son says that an engineering major is very good for the budget, because there isn't time to do anything that costs money! :D</p>
<p>That's amazing. I'd say that's well below typical. I don't know anyone who spent less than $1000 this semester, and that's low, although I do go to school in a city which does drive up expenses.</p>
<p>My son in LA spends about $50 - $75 a week in spending money, while his brother in a rural university only spends about $100 a month. Son 2 is a computer gamer though and that is pretty cheap entertainment.</p>
<p>I have no idea how much "spending money" my kids spent this term. They earn the money from their summer and school jobs. They spend the money as it's theirs to spend. They do have to purchase their own textbooks and any school supplies from their earnings as well. Both earn about $60 per week at their jobs. Both earned about $3000over the summer. If they run out of spending money, we do not provide assistance.</p>
<p>This, however, is a personal family decision. I think your $300 per semester of spending money is VERY modest. When my son was an undergrad, he said he spent an average of $25 per week.</p>
<p>Depends on where you are. I'm at NYC and I spent about $85 a week usually, and sometimes up to $150 a week. But I was at NYC and having trouble budgeting and getting anything cheap. Next semester should have me spending around the $80 a week area. I tried to stick to $50 a week, but it's simply unrealistic in NYC, so I'm shooting for $80 a week, not that that's a small amount of money. But the one month I blew $900 was the month I bought my plane ticket ($350) and winter clothes ($200), so it's not too bad. For New York City.</p>
<p>My son is at NYU (where I assume FutureNYUstudent also goes). </p>
<p>He went thru ALOT of $$ in the first semester. I think he bought a whole new wardrobe :-)</p>
<p>And a broadway show there, a movie here,,,,,, If you want to live the NYC lifestyle, it can be some major cash.</p>
<p>He's working now and is not starting the semester with a nice bank balance like he did 1st semester. I hope he works more, or spends less, because I'm not paying into the lifestyle. </p>
<p>OTOH, I pay ALL school related expenses not covered by his scholarship and federal loans (and that is over my EFC of 12K).</p>
<p>I hope he's enjoying his $150 pea coat, I'll be wearing my $40 coat from Sears and $20 Payless shoes for several more years.</p>
<p>I think money will vary on where you go to school, how the college food is and how much you decide to escape it (it is very good food at the school my son goes to), and if you are leaving with things like a semester's or year's supply of shampoo, health aids (ie:Tylenol, cough syrup, band aides), detergent, etc. If you leave without these personal care items I think you can easily run up a nice bill. Also, is laundry free or does it run $10+ every week? These variables have nothing to do with paying for entertainment or clothing.</p>
<p>sueinphilly, LOL, I wish my son would take some lessons from your son. I don't need him spending $150 on a pea coat, but if I don't buy his coats at home, he would continue to wear an old torn one with a broken zipper! He might even struggle through the winter with a sweatshirt instead! I just bought a beautiful down jacket for him on sale (I am a good shopper) and he is enjoying it! He would never buy this himself even with my money.</p>
<p>Northeastmom, If you don't mind me asking, where does your son go to school? I'm thinking of going to school in NY if I get accepted.</p>
<p>My mom is opening up a savings account for me and I have my own personal ATM card. I'm still in the process of how this stuff works. I've also been saving up money. I'm also planning how everything would work if I go to NY. In CA (where I'm from), I''m familiar with everything down here...but NY - I feel as though I should brace myself...</p>