Most parents teach their kids how to whip up a few simple meals and remind them to separate whites from darks before they head off to college, but the majority of students need advice on something besides cooking and laundry. A recent study found that a whopping 84% of college students admitted they need more education on financial management.
The rising price of tuition and text books is constantly in the news, yet the average student spends almost half of his or her income on discretionary items like clothes, cosmetics, and going out.
Between part-time jobs like tutoring or waiting tables and some cash from Mom and Dad, the average college student winds up with roughly $1200 per month. Most—over 80%—also have at least one credit card. This infographic from Nationwide breaks down where college student spending goes:
Melissa Rhone earned her Bachelor of Music in Education from the University of Tampa. She resides in the Tampa Bay area and enjoys writing about college, pop culture, and epilepsy awareness.
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