Quick Answer: How much money does a college student need for groceries?

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.

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 should a college student spend on rent?

No matter the source of your income, you should make sure your rent costs never exceed 30 percent of your net monthly earnings. If you’re bringing in $2,000 per month, try to keep your monthly rent under $600. Some rentals will even come earmarked with income requirements.

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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.”

Sample Budget.

Budget Category
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 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 should a student spend per 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.

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
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