How much do you give your kids at university?
Discussion
My son is in his first year at halls in Dundee. We pay for all accommodation, books, car, clothes, fuel and running costs etc. We give him £100 a week to cover food and socialising. He came home for the weekend (Glasgow) and went out with his mates. His mum spent about £60 on shopping for him on Sunday before he went back to halls. He's just been on the phone saying he's skint after us putting £400 in his bank two weeks ago.
I was thinking £100 a week was quite generous but supposedly not. What do other parents give?
I was thinking £100 a week was quite generous but supposedly not. What do other parents give?
It's his first year, he's got to learn to budget properly and realise he can't phone home every time to ask for more!
If needs be he could try and get a job on campus somewhere and learn the value of money.
I was in a similar position and it really made me grow up and appreciate everything more.
If needs be he could try and get a job on campus somewhere and learn the value of money.
I was in a similar position and it really made me grow up and appreciate everything more.
My son is a first year at Sheffield in halls, I pay him £400 a month as well which covers all his food and going out. He says he is managing and only spent a bit of his savings so far.
My daughter is at Loughborough and says £400 is enough and she is always out! Sounds like your son might be enjoying himself a bit too much?
My daughter is at Loughborough and says £400 is enough and she is always out! Sounds like your son might be enjoying himself a bit too much?
Other side of the fence here but I received £250 each month to cover food/bills in 2012/13. This excluded accommodation costs as these were covered by my maintenance loan/other savings.
In second and most of third year (I think) I had a part time job which gave me around £350 per month so my parents stopped contributing. That £100 allowed me to buy nicer things including many pork sandwiches a week from Bères in Sheffield.
Others I lived with had much less and struggled where others would spend at least £800 per month. I was very good at budgeting and could account for every penny in my first year which allowed me to live within my means easily without watching it too much thereafter.
In second and most of third year (I think) I had a part time job which gave me around £350 per month so my parents stopped contributing. That £100 allowed me to buy nicer things including many pork sandwiches a week from Bères in Sheffield.
Others I lived with had much less and struggled where others would spend at least £800 per month. I was very good at budgeting and could account for every penny in my first year which allowed me to live within my means easily without watching it too much thereafter.
Jer_1974 said:
My son is in his first year at halls in Dundee. We pay for all accommodation, books, car, clothes, fuel and running costs etc. We give him £100 a week to cover food and socialising. He came home for the weekend (Glasgow) and went out with his mates. His mum spent about £60 on shopping for him on Sunday before he went back to halls. He's just been on the phone saying he's skint after us putting £400 in his bank two weeks ago. I was thinking £100 a week was quite generous but supposedly not. What do other parents give?
Schoolboy error! Pay it in on a weekly basis, knock it down to 80 a week until the 200 he's pissed up the wall is recouped. 
The boy must learn.
I didn't give my kids anything.
They took out maintenance loans and got maintenance grants and bursaries, (due to us being a low income family) and before they went I sat then down with a spreadsheet, and we did a weekly budget, and cash flow forecast.
And then I encouraged them to update it on a weekly basis, so they knew what they had left.
10 years on my son still does have that, and has become an accountant, despite getting 1st Masters in Chemistry.
Daughter stopped doing the spreadsheet after a couple of months, but recently told me she had used it again, after splitting up with her boyfriend, and taking on the cost of living in the apartment they shared, to understand where her money was going.
She said it showed her the need to get a promotion.
My wife occassionally gave them money, but it was for specific things, that were luxury items.
She also insisted on buying them a proper weekly shop At the start of every term. So probably gave them £1000 each over 4 years.
They both ran cars in thier final year and I paid for some significant repair costs on a BINI which saved me getting my hands dirty. I remember a £250 bill. But hey.
One left university with more money in the bank than he started with, the other broke even.
They took out maintenance loans and got maintenance grants and bursaries, (due to us being a low income family) and before they went I sat then down with a spreadsheet, and we did a weekly budget, and cash flow forecast.
And then I encouraged them to update it on a weekly basis, so they knew what they had left.
10 years on my son still does have that, and has become an accountant, despite getting 1st Masters in Chemistry.
Daughter stopped doing the spreadsheet after a couple of months, but recently told me she had used it again, after splitting up with her boyfriend, and taking on the cost of living in the apartment they shared, to understand where her money was going.
She said it showed her the need to get a promotion.
My wife occassionally gave them money, but it was for specific things, that were luxury items.
She also insisted on buying them a proper weekly shop At the start of every term. So probably gave them £1000 each over 4 years.
They both ran cars in thier final year and I paid for some significant repair costs on a BINI which saved me getting my hands dirty. I remember a £250 bill. But hey.
One left university with more money in the bank than he started with, the other broke even.
I am probably an older poster than most but £100/wk after his ma' has bought him shopping sounds like very much taking the piss. Are you sure he is living the student lifestyle and maybe not a little more aspirational. I had a phase of it at Uni (94-99) where i amassed about £2.5K of debt between parents and CCs living like i was actually an earning adult. Cleared it off working furiously one summer and truly learnt to budget in my German placement year where i made about £200/month.
He needs to discover the wonders of pasta (5kg bag), getting a weeks meals out of Lidl for as little as possible to save the beer tokens and walking further a field.
I am being judgemental as i made the same mistake for a period of time but i am guessing at drinking in "cool bars", ie full price, eating out more often than he should, possibly Uber'ing home when pissed rather than the other poster who thinks he's on the sniff and hookers.
He needs to discover the wonders of pasta (5kg bag), getting a weeks meals out of Lidl for as little as possible to save the beer tokens and walking further a field.
I am being judgemental as i made the same mistake for a period of time but i am guessing at drinking in "cool bars", ie full price, eating out more often than he should, possibly Uber'ing home when pissed rather than the other poster who thinks he's on the sniff and hookers.
my first thought was why does he need a car: someone beat me to it. If he wants rather than needs one why are you paying? Sounds like you are giving him too much and because of that he won't know the value of money and/or have the ability to budget. Has he ever had a part time or holiday job?
My son is 4th year at Stirling Uni and we pay £400 a month plus bought him a car, insurance but not tax or fuel is paid
and half his phone.
He has a part time job that earns him £600 a month so never asks for anything else.He has a great social life that his earnings pay
for and our money pays for his accommodation and food.
On the other hand we are only 30 miles away so he could have stayed at home and commuted and pocketed £20k that we would
still have given him over the 4 years so swings and roundabouts.
and half his phone.
He has a part time job that earns him £600 a month so never asks for anything else.He has a great social life that his earnings pay
for and our money pays for his accommodation and food.
On the other hand we are only 30 miles away so he could have stayed at home and commuted and pocketed £20k that we would
still have given him over the 4 years so swings and roundabouts.
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