money for college kids?

Do you have kids in college? If so, do you give them speding money each month? If so, mind telling how much?

There seem to be so many expenses when you have children in college. We have struggled with what we should give and what he should use of his own. The reality is that this time next year we'll be forking money over to three college students. I can't imagine! It's like paying for one home and three apartments. Egads!

I got a call from him yesterday saying that their storage room flooded over the summer. All his baseball "stuff" was ruined, covered in mold and stinking to high heaven. Apartment rent? We didn't purchase that. OOPS! I think we're responsible. Live and learn.

[ August 24, 2005, 12:50 PM: Message edited by: Dotsie ]

Why don't these (kids) young adults get part time jobs and earn some of the money they need, at least their spending money. I assume they are all in good health? I mean all these college kids not only yours...

Chatty,
Good point. I would reply to more posts but I feel like I flit in and out of here when I can. I do enjoy yours though. Ours did have a part time job and part time school. It helped us and we help when we can. Now he's a full time student trying to get into the Work Study program.
Dotsie we don't have a set limit unfortunately.
Can you believe the cost of just textbooks?
Maggie

Dotsie, imagine, if you will/can, a single parent, single income??? I have two in college now. Fortunately, my son has been such an 'first letter of the alphabet + hole that' that I don't feel bad. Since he 'knows' it all, I let him and take pleasure in reminding him that he 'knows-it-all' and to find it the best way he can. Recall, this is the son (the only one too) that said his beloved father did everything for him. HA! Let us put this into practice!

My daughter, on the other hand, I would get her established for the first semester, maybe even the second but will make it clear to her that the extracuriculars have limitations and that she shall work to save her money come summer 'paid' internships.

Just my two cents, and agreeing with Chatty as well.

[ August 25, 2005, 02:51 AM: Message edited by: Sugaree ]

You gals are right. He worked a full time paid internship this summer so he has spending money. The issue is that he plays club baseball and travels with the team. Parents absorb those expenses. We're talking hotel rooms, food and GAS.

Maggie, book prices are out of this world. Then, when you turn them back in for cash at the end of the semester (some still looking brand new) you only get a teeny portion of what you paid a few months prior.

I need to stop whining. Everyone goes through it. I need to suck it up and get over it. Thanks for listening.

Dotsie,
I am happy you posted about this as it lets us know were not alone on this subject. Others feel the same way.
I am sure there are other expenses too. You do have a lot when he is on the team. Don't they help raise some of their team money?
I think there others who will post to this subject.
Maggie

Maggie, they do fund raising, but that's to pay umpires, tournament fees, and some travel.

I am concerned about the price of gas. They do a lot of traveling. I'd hate to see their games become prohibitive due to traveling expenses.

[ September 01, 2005, 11:49 AM: Message edited by: Dotsie ]

I went to college for 6 years. GRRRRR.....the amount of money that I spent on books is out of this world! I would pay $100.00 for a textbook and at the end of the semester sell it back for $12.00. What a joke!

I would set a budget and have your kids live by it. If they need extra for their "going out nights" then they can pick up a part time job on the weekends or summers. It's amazing how much money kids can save when they live with their parents over a summer.

Teresa

Text book costs are outta sight!My son buys his used whenever he can then we re-sell them on e-bay for a whole lot more than the college will pay you. He also has hung around the college book store and sold his used text books directly to other students needing them, still for a lot more than the college would pay. Try selling them on e-bay. It must be done as soon as your child is done with them. Some go out of date immediately while others don't.

ladybug, selling them on Ebay is a great idea. I'm sure you can get more than the school gives you when you turn them in. Thanks for the hot tip!

Half.com is also a great place to sell books!

(you don't have to pay upfront for listing them, and you set the price based on the other books for sale)

d.

College is very expensive, books, tuition, housing, food, etc.

We had our first go, then two years later, another child in college.

Since we were paying for two, we might as well get some perks out of it. I got a credit card for them, with a low limit, and when they spent so much on the card, I got a gift certificate to my favorite store!

We had a good dicussion before about what could be put on it, and they were aware of the low limit.

My oldest is now out of college and the card gave him a start at a credit history, so now he will be getting his own card.

Sunrise, tell me more about getting gift certificates. How did that happen?

My son has a credit card for college expenses too. The bill comes to us. We approve spending for books and household items, etc. He has to send us a check for anything we don't approve. It seems to work well. But next year we'll have two more in college. I can't imagine having two more credit cards in the family. YUCK!

Sounds like you are doing a great job with helping your son manage his/your money.

I have to say, it is pretty scary giving your child a credit card.

It involves a lot of discussion about what they can use it for, limits on the card, not losing it, etc.

I chose a credit card, that was a visa with my favorite store. It has no annual fees (some cards do), and when a certain amount is spent on the card, they send you a 20$ gift certificate. On this card, if I shop at the stores "special" sales events, they may even double my points.

There are many cards out there that give you money back, credit for gas, so choose what you like.

For me, this is such a treat to get these gift certificates in the mail.