How much do college students spend on transportation per month?

How much do college students spend on transportation a month?

It has been estimated that on average a college student will spend between $1,050 and $1,800 on transportation costs.

How much money do college students spend on transportation?

Although paying for transportation might not sound like a major barrier, the average full-time community college student spends $1,760 per year on transportation, which is nearly half of national average tuition for such a student.

How much do most college students spend a month?

While the number is dependent on a range of factors, the average amount of spending money for a college student is $2,000 per year or about $200 per month.

How much should I spend on transportation a month?

In general, experts recommend spending 10%–15% of your income on transportation, including car payment, insurance, and fuel. For example, if your take-home pay is $4,000 per month, then you should spend $400 to $600 on transportation.

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What is a reasonable budget for a college student?

Sample Budget

Budget Category
Clothing $450-$750
Entertainment $1,300
Food (assuming that most meals are eaten on campus) $3,500- $7,500
Gas/Car Insurance $1,000-$5,000

How much money does a college student spend on food a month?

According to the USDA website, a typical college student will usually spend between $163 and $367 a month on food. This particular website avails different costs based on gender, as well as four distinct meal-plan estimate levels.

How much does a college student spend on clothes per month?

Monthly Expenses

Expense Budgeted Actual Cost
Beauty/drug store $50 $44
Clothes $60 $78
Miscellaneous $100 $360
TOTAL $1,500 $1,767

How much money does a college student need per week?

The consensus among the hundreds of parents who did send their college students spending money was that the range should be between $25-$75 a week for a student living on campus. The most common answer was $50 a week or $200 a month.

How much should a student spend per month?

As of 2020, UK students spend an average of £418 per month on rent. For students living in London, this is £648 per month. 58% of students reported that their mental health had suffered as a result of a low budget.

Expense Cost per month
Rent £418
Groceries £100
Going out £46
Transport £43

How much should a college student spend on groceries per week?

Answer. According to this chart- we’ll assume that most students are on the “low-cost” plan- the average American college students spend on food anywhere between $42-$55 per week. Another survey estimates that the average adult spends between $10-12 per day on food, which comes out to about $70-84 per week.

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How much money should you save before college?

We call it the “college savings 2K rule of thumb.” Simply multiply your child’s current age by $2,000 for the amount you should have in college savings by that age. This figure can show you whether your college savings to date are generally on track to cover 50% of the cost of attending a 4-year public college.

How much should I spend on a transportation budget?

Transportation. Transportation expenses include car payments, car insurance, gas and car maintenance. These expenses should be limited to 15 percent of your monthly net income, according to Ramsey. If you bring home $6,000 per month, you could potentially spend $900 per month for transportation expenses, if necessary.

What are typical monthly expenses?

Necessities often include the following:

  • Mortgage/rent.
  • Homeowners or renters insurance.
  • Property tax (if not already included in the mortgage payment).
  • Auto insurance.
  • Health insurance.
  • Out-of-pocket medical costs.
  • Life insurance.
  • Electricity and natural gas.