<p>After the B of A discussion, I wonder if I should just put a thousand into a B of A account and not give my son any monthly money, just see how long the thousand lasts, or should I put $500. in the account and then add money. We had this discussion on CC about how much money a boy needs per month (I am guessing $200-300)to spend on extras (hair cut, zip car, etc.).My son said he is going to look for a part time job on campus. I heard that prices have really gone up in LA, so I still don’t know what to really expect. I just know that $300. a month pocket money can go fast here in a major East coast city.</p>
<p>I think the real questions are, “How much do you trust your son and/or how financially savvy is he?” Has he had any experience actually living with a budget? If not, do you think he would follow one if he had it? Is he pretty frugal, or is he the type of kid that blows through money as fast as he gets it? (I’ve got one of each, LOL!)</p>
<p>If he knows that you are just “seeing how long the thousand lasts” and will replenish it when it runs out, you may find yourself shelling out lots of money! I think a better approach might be to sit down with him now and try to come up with some sort of monthly budget for various items (hair cut, laundry, etc.) using whatever information you have (even using East Coast costs if you have nothing else). Then have him track his expenses the first month or two in LA, compare them to the initial estimates, and you can then make appropriate adjustments based on his actual costs.</p>
<p>Each kid is different.</p>
<p>Thanks worried mom. I appreciate your info. I am not going to put in the thousand dollars.Maybe I’ll put in $300. to start, suggest $300. maximum per month. My son can write down where he spends his money for the first two months and then see what is realistic, if he gets a job and what it pays, etc.
However, do you know if B of A or USC credit union has a minimum balance so that we don’t get bank charges?</p>
<p><a href=“Home - USC Credit Union”>Home - USC Credit Union;
Or go to <a href=“Home - USC Credit Union”>Home - USC Credit Union; and click on “service summary”</p>
<p>The only times I had to pay extra money was for an overdraft fee or $2 (had money in savings, but not enough in checking) and when I withdrew money at an ATM not associated with the credit union.</p>
<p>I think a good estimate for freshmen spending is see how much they spend at home. Since they aren’t paying rent, and most meals are taken care of, spending should be about the same…maybe a little more if they plan to go out more often.</p>
<p>I honestly don’t know how much money is spent on extras-particularly over the week-end. On this web site it sounds like kids are going to Disneyland (expensive food, gas), Westwood, etc. Eating out, movies, etc. on the week-ends can add up, plus a gift when visiting relatives, etc. Also, I don’t know if there are coffee shops, snacks, bottled water not on the food plan which can also add up by the end of the month.</p>
<p>I think it depends on the child and how money has been handled in the past. Ever since my kids were in high school, they got their spending money for the (academic) year in August and then had to make it last until June. I did this because I hated rummaging for cash for lunch money, concert tickets, gifts for parties every day. Usually, they do okay. My college junior had a couple of rough spots his first two years (bike stolen, ipod lost, etc.) and my husband ended up “sneaking” him a hundred dollar bill a couple of times, but the incoming frosh has been told, “This is it. Make it last or get a part time job if you want to spend more money.” I don’t recall the exact amount, but I think we decided that about 75 a week would be more than enough to buy a taco across the street or get his haircut or whatever. I actually want my kids to have to think about whether they can afford to buy something and to have to make choices. I have found that my kids spend “their” money from their account much differently than they do when we are handing out the cash. They have had their own checking accounts and credit cards since they began high school so college wasn’t much different for the oldest while in the dorm. It was more of a challenge when he had to start figuring utility bills, cable, groceries, etc. That budget for next year is evolving. BTW, don’t you all love it that our kids can walk into the USCard office and ask for cash to be put on their bill? Kind of like charging at a country club. Well, at least it is good for emergencies, but I hope the emergency doesn’t turn out to be a concert tickets or anything to do with big, red cups.</p>
<p>There are lots of activities available for free on campus, but in L.A. movie tickets cost about $11, lunch out at a nice place with salads and sandwiches might cost $15 with drink and tip, dinner at Outback or similiar might be $25 on the high side. Perhaps these are weekend costs since the food service should cover most of the school week. You might allow a certain amount for extra fun–like Disneyland (allow at least $100 for one day there to include food and extras), but how often will a kid go there? Perhaps as you budget your s’s year, you could have a category for sightseeing and travel to allow for short trips (to San Diego, Santa Barbara, or the Bay area, as well as the theme parks–we have Magic Mountain, the two Disney parks, and Knott’s Berry Farm) if this is permissable in your family budget. There are a lot of great (and expensive) things to do around Southern California. But if you want a more realistic budget, $200/month should be fine for a basic good time for most kids.</p>
<p>Thank you so much. Can you please clarify this about the food service: doesn’t the meal plan include the week-end food or is that extra?</p>
<p>The basic food plan supplies 10 meals per week, but any unused meals roll over and they do not expire until the end of the semester. One meal is considered to be one-time entrance to the dining hall (but it’s an all you can eat buffet once inside). If a kid wants to go in for breakfast (they have waffles, omelets, cereal, fruit, and lots more) it costs 1 meal, same as if they go for lunch or dinner. But, if they intend to eat something quick in their room (bagel, sweetroll, fruit) and skip a big breakfast, they don’t have to use 1 meal credit. In other words, 10 meals isn’t enough to cover 21 meals/week, so the kids must supplement. In addition, they get about $500 (you can look up the exact amount) in Trojan dollars assigned to their USCard which they can use tfor purchases in the campus coffee shop and fast food. I’ve read on these boards that this is a popular plan–however, some folks say they never use all the Trojan bucks–and those also expire at the end of the semester–prompting some kids to stock up on cases of bottled water at the deadline. </p>
<p>However, there is another plan (called Quick-something) that costs about the same amount and gives unlimited meals, but no Trojan dollars. For a student who must eat 3 (or more) full meals every single day including Sat and Sun and who absolutely LOVES that dining hall food and never needs a change, this sounds ideal. But guessing which works best for your student might require a little thinking about how they plan to live on campus.</p>
<p>Good news. Students can change their meal plan up to 3 weeks into the semester, so if one plan isn’t looking so hot after a week, make sure to sign up for another.</p>
<p>Do you know if Jamba Juice is part of Trojan dollars or do you pay out of pocket? Also, what is the difference between Trojan dollars and real dollars?
Is there a discount at Jamba Juice if you use Trojan dollars? My son loves Jamba Juice and I can envision him being there once a day. Jamba Juice is expensive. Which plan do you recommend for a kid who loves Jamba Juice?</p>
<p>You can use dining dollars at Jamba Juice. There really isn’t a difference between dining and real dollars - dining dollars are part of the meal plan so you’ve already prepaid for them. No discount unfortunately…I think most get by on the Cardinal/Gold plan.</p>