How Students are Spending Their Money
The economy may still be in trouble, yet U.S. college students continue to spend money on everyday needs — to the tune of approximately $60 billion, according to eCampus.com. That's more than any previous year, except for 2007.

Back to School Items
How are they spending this money? Not counting tuition, room, board, fees or textbooks, students spent $33 billion on back to school items such as:

• Electronics and computer-related equipment — $12.99 billion
  
• Clothes/accessories — $6.63 billion
  
• Residence hall room furnishings — $5.31 billion
  
• School supplies — $3.45 billion
  
• Shoes — $3.41 billion
  
• Collegiate branded gear, like sweatshirts — $1.99 billion

Non-Essential Items
Plus, they spent about $27 billion on non-essential items throughout the school year, including:

• Snacks/drinks — over $11 billion
  
• Alcohol — $5.5 billion (avg. about $50 per student/per month)
  
• Clothes/shoes — $5 billion
  
• Personal care items — $4 billion
  

Entertainment
And then there's the $2.4 billion spent on entertainment including:

• Movie tickets — $658 million
  
• On demand movies — $600 million
  
• Music — $474 million
  
• Video games — $341 million
  
• Renting DVDs — $326 million

Better understanding what students are spending their money on can help you discuss finances with your student. These statistics can also help acknowledge the money-spending peer pressure students may face. Going out to eat seems to be a big draw, and students with limited funds may feel left out if they don't go along. Shopping for clothes, shoes and collegiate wear is also a major expenditure — the culture of shopping as recreation can cause some students to overspend when they don't have the funds. Discuss these cautionary tales with your student now, before credit issues become a problem!

Sources: PRWeb, 12/15/10; eCampus.com