My son will be a freshman at NYU. Living in a dorm with kitchen and on 225 Plus meal plan (14 meals/week and $300 dining dollars per semester). Allowance would be for incidentals, transportation, etc. (books, school supplies covered separately) - suggestions for a reasonable monthly allowance?
We just gave our daughter $65/week as an allowance. Said that we will monitor it as we go. We took transportation out of the bucket as we don’t want her to feel the need to take the subway if she feels safer in an Uber or taxi.
Your kids are adults and need to grow up and get jobs. There is no reason why an 18-year-old ADULT should have an “allowance”, you are raising children who will forever be dependent and never know what hard work is. It’s actually pretty sad.
Thank you for your opinion on the matter @GiannaC3 , although I don’t recall asking for it. My student was unable to work due to medical reasons and we are doing what we can to support essentials for freshman year. I was soliciting guidance on that. I’m disappointed to learn that a fellow incoming freshman at NYU felt it necessary to so hastily pass judgment. Good luck to you.
Hey, I’ll give you some actual advice!
I don’t work during the semester because I want to focus on my classes. My parents don’t give me an allowance, I just work my butt off during summers and spend sparingly. That’s not a value judgement on you, it was more to show that not everyone works during the semesters! In fact, a lot of people don’t. Also, the fact that most internships in NYC are unpaid means if you’re working, it’s probably for free. That’s all to say that GiannaC3 is wrong and judgmental. I know SO many people here who get money from their parents–most, in fact.
And to your specific question, it honestly depends on your son’s spending habits and, to be honest, your financial situation. I can make it through the entire year with around 2k for extra food/shopping/going out/small incidentals/transport, and last year I made more, so I spent more ¯_(ツ)_/¯ As a freshman with the same meal plan situation as yours, surviving with less than 2k for the whole year would’ve been tricky, but I’m not the best at saving or budgeting, I bought unnecessary things and ate out too much and decided to go to DC for Spring break. You definitely CAN survive with less by just not going on expensive trips or outings and stick to the basics, and I know people who have wealthy parents who give them $1000 a month to spend on designer clothes and trips to the Bahamas over breaks. It’s not difficult to live in NYC on a budget if your housing and food is already paid for but there’s also a lot of tempting fun things in New York that cost money and can make your experience more fun.
Thank you @wonderlanddd that was very helpful and great guidance on what he needs to earn over future summers!