How much should a college student spend on groceries a 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.
What is a good monthly budget for a college student?
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 a college student spend on food a month?
An individual college-aged student will spend approximately $163-$367 monthly according to the Official USDA Food Plans. The USDA website provides different costs for men and women and also provides four levels of estimates: thrifty, low-cost, moderate-cost, and liberal.
How much do college students spend on personal expenses?
A full-time community college student spends around $1,760 per year on transportation alone. Students spend roughly $413 per academic year on college course materials.
|Budget items||Live with parents/relative||Graduate/professional|
|Personal & miscellaneous||$2,316||$2,316|
What is a reasonable weekly budget for a college student?
Since many college students work and earn an average of $195 per week or $10,000 if working part-time year-round, they should not need any help with “spending money.”
|Food (assuming that most meals are eaten on campus)||$3,500- $7,500|
How much money should a college student have in the bank?
If you’re on top of your budget and not overspending, Steinberg recommends college students keep around one to two months worth of their income in checking and put everything else in a high yield savings account or a retirement fund.
How much money should a 20 year old have saved up?
The general rule of thumb is that you should save 20% of your salary for retirement, emergencies, and long-term goals. By age 21, assuming you have worked full time earning the median salary for the equivalent of a year, you should have saved a little more than $6,000.
How much money should a student spend a week?
The average student’s living costs are about £810 a month (or £187 a week), with our findings revealing that the Maintenance Loan often falls far short of covering students’ living expenses. It’s probably no surprise that rent takes the biggest chunk out of the student budget – and, at £421, it’s £3 up on 2020.