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Allowances to the Third Power: For Food, Shelter, and ClothingFeb 07 '00 (Updated Feb 15 '00) Write an essay on this topic.The concept of allowances for college students takes on a whole new slant when students move into off-campus apartments. The allowance, previously allocated to entertainment, toiletries, and personal expenses, now has to cover rent, groceries, utilities, and more. Add in the difficulties in meshing the different money-management styles of the roommates, and you have enrolled in a challenge course in the school of real life. My 21 year-old son decided to move into an off-campus apartment in his sophomore year. While he was naturally gregarious, he liked having his own room. When he shared a dorm room with a close high-school friend, conflicts arose over his getting all the phone calls. He had gotten very involved at the campus radio station, and made many new friends. His friend actually stopped speaking to him for a week because of fights over phone use. But in his quest for a room of his own, he took on a whole new set of problems. Roaches in the kitchen! A roommate whose leftovers were coming to life in his bedroom! And meshing three different personalities and money management styles in a three-bedroom apartment. Allowance Renegotiation We are fortunate parents. Our son had an academic scholarship which covered most of his tuition. In his freshman year, we paid approximately $4000 in room and board expenses, and felt that it was a good jumping off point for negotiation. In evaluating living costs, here are some points to consider: - Leases run, typically, from August through July. If students are planning to come home for summer vacation, they will still be responsible for their share of the rent, unless they can find a sub-letter, and unless the apartment lease permits sub-leasing. Budget: $225 - Generally, gas, water, and sewer expenses are covered in the rent. Students are responsible for the electric bill. A utility should be able to provide you with a cost estimate based on previous tenant usage. You can also pay on the "budget plan." Budget: $30 - Figuring out whose long-distance charges are whose can be a bone of contention among roommates. We solved this problem by getting a personal 800 number and giving him a prepaid phone card from SAM's Club, currently running only 6.7 cents a minute. Budget for basic phone service: $20 - Roommates usually purchase their own groceries and do their own cooking. They have to learn to respect one another's possessions. There's nothing worse than coming home with a menu planned and finding out that the ingredients were consumed by your roommate earlier in the day. My son found the least expensive groceries to shop in, and became a smart consumer pretty quickly. Budget: $125 - Many colleges offer different meal plans, with 7 meals, 14 meals, and 21 meals per week typical. It might be good to purchase a 7 meal plan for your student, knowing that he would have at least one good meal a day. Money Management Styles Our son's roommates have had very different styles. One roommate was a good money manager who wanted to handle all the bills himself. He divided up the costs and charged everyone accordingly. Sometimes my son never even saw the phone or electric bills. When he went away on a summer internship and his roommates tried to disconnect the phone on July 31, the phone company wouldn't allow them to do it, because there was only one name on the bill--the good money manager's. On the other hand, one of this year's roommates advised him that their new landlady is very laid back and comfortable with delayed rent payments. Each roommate is paying the landlady 1/3 the rent, and one roommate currently owes four months. Because neither of his roommates is a take-charge money-manager, they have actually run down to the electric company before noon on one occasion to avoid a disconnect. In many ways, our son feels that his sophomore experience with the good money manager kept him from gaining the budgeting experience he needed. Now, with control up in the air, he and his new roommates are learning by trial and error. Moral: Share money management responsibilities from Day 1. Allowances to the Third Power Our son has a flexible part-time job which allows him to pay for most of his personal expenses. It's even somewhat entertaining--demonstrating video games at Toys R Us. He also plays in a band, a somewhat less lucrative venture. We give him $400 a month for rent and groceries. We pay for his books and the portion of tuition not covered by scholarships. He has access to a credit card for gasoline, car repairs, emergency groceries, and contact lenses or medical costs. He has had this card for four years and has never been less than responsible with it. Well, except when he went with a student group to Europe after his high school graduation. The bills from London, Paris, Lucerne, Rome, and Florence arrived home before he did! We had a long talk..... It's Workable, and It's Working When his dad was unemployed for four and a half months last year, our son didn't miss a step. The very first day, he told us, "You can stop my allowance." "Not while the severance is around," I answered. Helping him get an education is a sacred trust. He's learned so many skills from having lived with six different roommates over three years. He cooks and cleans (even when they don't.) He knows how to resolve conflicts and get along with many different people. He will make a wonderful husband someday. He's already a wonderful son! And he appreciates us almost as much as we appreciate him!  |
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