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College on a Budget: What’s the Magic Number for Monthly Living Expenses

College on a Budget: What’s the Magic Number for Monthly Living Expenses

September 18, 2024 Catherine Williams - Chief Editor Business

College Students’ Living Expenses: A Generational Comparison

As colleges and⁢ universities start their new semester, many freshmen are faced with an ⁤important question: ‌how much living expenses should parents give ⁢them each month? Recently, the discussion about college students’ living expenses has ‍sparked heated discussions on the Internet.

Post-00s: Daily expenses on⁤ campus are not‌ much, and part-time jobs are used to earn non-essential expenses

According⁤ to⁣ the “2024 China College ‍Students’ Consumption Behavior Survey‌ Research Report” released by iMedia Consulting, among the 1,354‌ college student samples, 34.3% of college students have an average monthly income between⁢ 1,000 and 1,500 yuan; 41.1% of college students have an average monthly income ​between 1,501 and 2,000 yuan; 17.1% of college students have‍ an ⁢average monthly income between⁣ 2,001-3,000​ yuan; 3.1% of college students have an average monthly income of more than 3,000 yuan.

Li Zhanming, a junior at Xi’an University‍ of Finance and Economics, has a monthly living allowance of ⁣1,500 ‌yuan, which ​he thinks is ⁤basically enough. ⁣Li Zhanming ⁢showed reporters⁢ a monthly consumption list he kept when he first entered‌ university two years ago: 5 yuan for ⁢breakfast, 10 yuan for lunch, and 10 yuan for⁣ dinner. Calculated based on 30 days, he spent 750 ‌yuan on food per month; ⁤other necessary‌ expenses in life cost 265 yuan per month.

Post-70s: Frugal life in​ college, living expenses‌ mainly used for food

Compared to the consumption of college students born⁤ after 2000,‌ which includes various non-essential consumption items such as travel and online‍ shopping, college students born after 1970​ do not have many entertainment‍ options to choose from, and most​ people’s living⁤ expenses are used for the most basic living needs.

52-year-old ​Cheng Guoqing lives‌ in ⁤Zhuquemen and studied at Northwestern University. Recalling​ his college life in‌ the ⁣1990s, Cheng Guoqing said‌ that ⁢college students at that time mainly‍ lived a frugal lifestyle. From the time they entered school, they carried ​all their bedding and ‍daily necessities from home in a backpack to school.⁤ The monthly⁣ living expenses were mainly used for food, and ‍many daily necessities were brought from home.

Post-80s: ⁣Consumption is rich and diverse, and spending on interpersonal communication is ⁤increasing

According ‌to the results of the reporter’s interviews,‍ the living⁢ expenses standards of ‍college students after 2000 have begun to‌ increase significantly, ​and classmates’ gatherings ⁣and interpersonal interactions have become reasons to spend ​money.

Wang ​Yan, a post-80s who entered university in ⁣2006, said: “My first month’s living expenses were 300 yuan. ​Although the amount was not much, it ‍was the first⁢ time I had more money at⁢ my disposal, and I⁣ felt great. At ⁣that time, I often experienced ​hardship ​before⁢ sweetness. I was very frugal in the ⁣beginning and reluctant to spend. I would check how much money I had left at ‍the end ​of ​the ⁣month and then buy what I wanted.”

Experts: ‌Cultivate a reasonable consumption concept and‍ do not recommend excessive consumption

Wang Xiaoyong, an associate researcher at the ‍Shaanxi Academy of Social Sciences, believes that⁢ as an adult, college students‌ should develop a reasonable consumption ⁤concept and ⁤financial management awareness. The amount of ⁤living‍ expenses depends on the​ specific ‍situation of the family.‍ For families with better economic conditions, ⁣parents can give more living expenses, but ⁣it is best​ to use a fixed amount, and let the students decide how ⁢to use ‍the​ money.

Students are encouraged to work part-time and earn money to support ⁤their expenses. This will⁢ allow them to cherish and cultivate their ⁤awareness and ability to plan the use of living expenses. Wang Xiaoyong said that pre-consumption‌ is a common phenomenon in today’s society, but the majority⁢ of⁤ college ​students’ living expenses still come mainly from their families, and the income from work-study programs is only an additional ⁣subsidy ‌after all.

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