<p>My daughter has been accpeted to Texas A&M for fall 2011. I am concerned with how much money I need to set aside for personal use. I was wondering if anyone could tell me how much money you would think would need to be set aside just from your experience.</p>
<p>As much as she can make during the summer and with a part-time job during the school year next year. In addition, she may even (or perhaps should) pay for all or part of her books out of this money.</p>
<p>I agree with MomCat2. I do not provide personal spending money to my kids. They are responsible for saving to pay for their books and spending money. They found that approximately $1000 per semester is needed, although the two that are science majors found that their books were more than the $300-400 that they had estimated. They typically earn about $3,500 to $4,000 a summer, so it wasn’t a terrible hardship to save this money. They got into the habit of banking a minimum of 50% of every take-home check for college, instead of spending their job money immediately.</p>
<p>They could spend a lot more, obviously. One of my kids is a Starbucks addict, and would buy $20+ of coffee a day if it was my money. Another kid prefers to eat at restaurants than to use the dining hall. I paid for the dining hall, and I’m not going to provide cash to eat at restaurants in lieu of the dining hall. Another kid likes designer clothes and doesn’t show much judgment IMO when adding to his wardrobe. Since they’re spending their own money, I can’t say much about it. Each of them is learning how to manage their own money.</p>
<p>I do occasionally help out the kids by giving them gift cards to Starbucks, book-stores or fast food restaurants. When I visit, I also will give them a $20 or more for a haircut, etc. (Knowing they usually get cash or presents when I visit ensures I’m always welcome LOL). I will also help out with unexpected expenses sometimes. I don’t pay if they lose their ID cards or dorm keys, get parking tickets, or otherwise incur costs irresponsibly.</p>
<p>My D budgeted about $1000 per semester for eating out, concerts, plays, etc. She attends college in a major East Coast city with lots of opportunities to spend money. College Station might not have the same temptations. But there might be extra need for gas, if she has a car.</p>
<p>My kids usually pay for their own books, cell phones, clothes, and spending money…they’re pretty frugal souls but so are most of their friends! They work during summers and breaks, and 8-10 hours/week while in school. I send them back with plenty of soap, shampoo, snacks, etc. and they buy anything else they want at the grocery stores. But, their schools also offer tons of stuff to do that’s free/low cost and they’ll use groupon/living social, restaurants.com, and internet coupons to save money on extras. I just stick the odd $20 or gift card in the mail when I’m sending them something.</p>
<p>We pay for books and cellphone. Our kids spend about $100 a month, but they are unusually frugal. Though younger son has had some really unexpected expenses that went over that number like visas to Pakistan and India! :eek:</p>