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Chong, Home Buyer in Phoenix, AZ

how much allowance should i give my son in college?

Asked by Chong, Phoenix, AZ Thu May 21, 2009

i have a son in college....we pay for all the expenses... books , gas, aparment, tuition, car insurance, phones with the exeption of his daily meals. right now he getting $60.00 per week and yet it seems low..how much is the reasonable allowance..anyone...he goes to Pomona,CA

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Linda’s answer
the goal is to have him or her understand the usage and making of money. I always have my kids divide what ever they get into 3 things, 1/3 for saving, 1/3 for spending and 1/3 for donating. as for me i have another "pocket" for my monthly standard needs. then i use the rest of how to balance above.

so when i say, i don't have any money...it means, "to spend" ....

good luck.
0 votes Thank Flag Link Wed May 16, 2012
Chong,
Have him get a part time job. If I've learned anything from going to college and graduate school it's that employers look at work ethic and experience more than they do grades. A job will make him appreciate what he earns and establish budgeting habits that will benefit him in life. Sorry but I know this doesn't answer your question but I hope it gives you something to think about.
0 votes Thank Flag Link Thu May 21, 2009
My son has the same set up (we pay for it all!) and we give him $300 a month. That is for gas, movies, and I am sure a few beer and pizza parties. We are in PA so I am sure the cost of living is higher in CA.

I think your right on the money depending on how much gas he uses to come home.
0 votes Thank Flag Link Thu May 21, 2009
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