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Discussion Starter · #1 ·
This is a question for anyone with kids in college or kids in college both perspectives would be appreciated. My daughter started college at OU this fall with all the usual fanfare and tears. She went with over a thousand dollars in her savings account and we set up a weekly spending allowance of $ 50 for non school, non food, non living related expenses.

She blew through the savings before the end of the quarter and now bounces from week to week on the $ 50. I send her more occasionally to "brighten up her gloomy existence (according to her when not able to shop) with shopping money". I feel torn between providing her a good experience at school and teaching her to be responsible and sacrificing a little for the things she wants.

Is $ 50 enough or am I being a bad Dad?

P.S. I already am "The Bad Guy"
 

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Da Klugs said:
This is a question for anyone with kids in college or kids in college both perspectives would be appreciated. My daughter started college at OU this fall with all the usual fanfare and tears. She went with over a thousand dollars in her savings account and we set up a weekly spending allowance of $ 50 for non school, non food, non living related expenses.

She blew through the savings before the end of the quarter and now bounces from week to week on the $ 50. I send her more occasionally to "brighten up her gloomy existence (according to her when not able to shop) with shopping money". I feel torn between providing her a good experience at school and teaching her to be responsible and sacrificing a little for the things she wants.

Is $ 50 enough or am I being a bad Dad?

P.S. I already am "The Bad Guy"
Plenty. Because of a heavy courseload and lacrosse, I only pull in $140-150 a month. That has to go for food, utilities, beer, and cigars. You learn to make it work, and it will make graduation and a salary that much sweeter....until marriage and a mortgage.
 

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My daughter is a Junior at VCU in Richmond, VA and was able to get a part-time J.O.B. at an irish resturant where she now makes a little under a grand a month. I pay for her tuition and her mother pays for her appartment. Everything else is her responsibility. She takes student loans and now budgets her money. It's hard at first to cut some of the strings but Ohhhh so important. Encourage her to get a part-time job even on campus somewhere and it will build her self-worth as well as give her some extra bucks....just MHO. :D
 

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AAlmeter said:
LeafHog...when are we opening the CS engineering firm?
Did someone say engineering firm? I know how to design poo pipes and stuff...

Oh and Klugs...I budget a little less than $100 a week for myself and that includes food. And I am a professional that could spend much more if I wanted. Oh yeah, and I have lots of fun!
 

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Im at college currently and i have had 80 dollars in my account for the past 5 weeks. before that i had 120 for the months before. 50 bucks a week to me would be awesome. id be happy with 15.
 

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mr.c said:
...if she wants more she can get a job
My sentiments exactly. I sure wish it was this easy to be a kid when I was growing up! We had to earn everything we got, but kids now think that everything should be handed to them. I blame it on all of the PC :BS and the liberal belief system taught to them in schools. Not saying your daughter is a bad person, but she needs a job.
 

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Discussion Starter · #9 ·
mr.c said:
...if she wants more she can get a job
Yea I know but it's not all her fault. You know the Daddies little girl thing. I'm the biggest sucker when it comes to my girls. They pretty much know how to get whatever they want out of me. Tough love has never been my specialty. I guess the only bright spot is that neither has ever to my knowledge taken anything from my wallet without permission or more importantly from the humi. Now leaving the cars on empty that's another story. Getting a job is probably the best thing she can do. Her mother will flip though. There was a line in the movie coming to America when James Earl Jones found out that Eddie Murphy was working at McDowells, "My son works". Not because she's royalty or anything (although I think of her as such). My wife and I both believe that it is our responsibility to provide for her education and have saved and planned for a long period of time to ensure that she would have no financial worries and can focus on getting a good education. My Dad gave me $ 25 a week back in 1977 anyone know the compounded rate of inflation calculation to equate that to today? Thanks for the input everyone.
 

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FunkyPorcini said:
Did someone say engineering firm? I know how to design poo pipes and stuff...

Oh and Klugs...I budget a little less than $100 a week for myself and that includes food. And I am a professional that could spend much more if I wanted. Oh yeah, and I have lots of fun!
I can design poo stirrers!
 

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Silverback
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Da Klugs said:
Yea I know but it's not all her fault. You know the Daddies little girl thing. I'm the biggest sucker when it comes to my girls. They pretty much know how to get whatever they want out of me. Tough love has never been my specialty. I guess the only bright spot is that neither has ever to my knowledge taken anything from my wallet without permission or more importantly from the humi. Now leaving the cars on empty that's another story. Getting a job is probably the best thing she can do. Her mother will flip though. There was a line in the movie coming to America when James Earl Jones found out that Eddie Murphy was working at McDowells, "My son works". Not because she's royalty or anything (although I think of her as such). My wife and I both believe that it is our responsibility to provide for her education and have saved and planned for a long period of time to ensure that she would have no financial worries and can focus on getting a good education. My Dad gave me $ 25 a week back in 1977 anyone know the compounded rate of inflation calculation to equate that to today? Thanks for the input everyone.
I have a job in the summer that i am able to save half of besides gas, cigars,car parts, and miscellanious. the rest goes to me for college spending once it runs out im SOL. Unless its something that i really need for school. so ive really learned how to budget. find out how much of the 50 she acctully needs to spend on stuff and then just give her that. but thats just my opinion.
 

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Speaking as a kid of that age, I live off of about 50 dollars a week comfortably. That includes all my food gas, smokes and a few little things. I am lucky in that I dont have to pay for beer at bars because I am a musician, and I still have connections from my old band. I dont think it would be too hard for her to work a few nights a week, but I understand where you are coming from.
 

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She is your Daughter so if you feel like giving her more that's ok, she has the rest of her life ahead of her to learn all about responsibilities....etc, and you are her only Dad.....If you want more advice from me send $50.00 and I will elaborate. :D
 

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Well first off Women generally are better at saving money. So if she's blowing through money you have to wonder why? Not that it's a whole lot of money besides the initial $1000, but if she doesn't learn to budget her money now when her room, board and school are paid for she will be in horrible shape later on in life. It may seem like tough love but really you're doing her a favor because if she really does learn to budget her money then that will be a big accomplishment. Now a few suggestions are you could tell her if she needs more money to get a job, but don't let her grades slip and have her give you excuses based on her job, i.e. I'm tired, don't get off til late..etc... Plus having a job gives everyone self respect and less time to spend money. The reason I'm telling you this is I've always been horrible with saving money, if I wasn't lucky a couple times in life to have paid off my house and a few other investments, I wouldn't be able to support myself let alone my kind of work. Be careful as you know children can manipulate the hell out of their parents.
 

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Why not just send her a couple of your ISOM's a week, she could probably get $30-$50ea on campus!


I just had both of my daughters graduate from schools in and around Boston and now look for bundle deals as I pay off the loans.

We tried the same thing letting my more responsible daughter manage her money to get experience. Yah, lasted 4 mos and gone.

My other daughter was a musician who couldn't manage $5 for more than two minutes, and gave us fits. She is now a sucessful sound engineer and recording artist despite her inability to handle money in any fashion.

My limited advise:

Pay close attention to how they are doing. If they really are putting in freshman time on studies, they really don't need that much spending money. $50/week though is slim, but I'd make her earn any increase.

Go week by week and send em little gifts as you feel fit.

As you can tell both my daughters were spoiled by me. Damn I wish I had boys, THEY WOULD GET NOTHING. :)

Good luck
 

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Discussion Starter · #20 ·
miketafc said:
Why not just send her a couple of your ISOM's a week, she could probably get $30-$50ea on campus!

Pay close attention to how they are doing. If they really are putting in freshman time on studies, they really don't need that much spending money. $50/week though is slim, but I'd make her earn any increase.

Go week by week and send em little gifts as you feel fit.

As you can tell both my daughters were spoiled by me. Damn I wish I had boys, THEY WOULD GET NOTHING. :)

Good luck
Mike I think we row in the same boat you know the one that our daughters think is an ATM machine. Gonna make it $ 75. I know this runs counter to some of the others thoughts but it's more me. (plus I'm feeling real guilty about the amount of money spent n the past week on my guilty pleasure)
 
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