# Best answer: How much do students spend on food a month?

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The average cost of food per month for a college student is \$547. College students spend on average \$341 a month eating off-campus. Meals cooked at home average \$206 a month when the cost of eating off-campus is included. A campus meal plan averages \$563 a month.

## How much does a student spend monthly?

Students in California spend about \$2,020 per month or \$18,180 annually per nine-month academic year for expenses outside of tuition.

## How much money should a college student spend on food a week?

The average American college students spend on food anywhere between \$42-\$55 per week. This means college students spend, on average, somewhere between \$630-\$1,260 on food each semester. Remember, this is just to cover groceries. These numbers exclude the consumption of alcohol, ordering food, or going out to eat.

## What is the 50 20 30 budget rule?

The rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must-have or must-do. The remaining half should be split up between 20% savings and debt repayment and 30% to everything else that you might want.

## How much should I give my college student per month?

Some families give their students a monthly allowance, ranging from \$75–\$225, to supplement the student’s own savings. After the first year, especially for students making good money through summer employment, an allowance may no longer be necessary.

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## What is a reasonable allowance for college student?

Some students were given money when expenses arose, rather than as a proscribed regular weekly amount. 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.

## Is saving 2000 a month good?

Yes, saving \$2000 per month is good. Given an average 7% return per year, saving a thousand dollars per month for 20 years will end up being \$1,000,000. However, with other strategies, you might reach over 3 Million USD in 20 years, by only saving \$2000 per month.

## What is the 72 rule in finance?

The Rule of 72 is a calculation that estimates the number of years it takes to double your money at a specified rate of return. If, for example, your account earns 4 percent, divide 72 by 4 to get the number of years it will take for your money to double. In this case, 18 years.