Most senior parents (like I am) are in the throes of picking out XL twin sheets, hoarding Bed Bath & Beyond coupons, planning graduation parties and trying not to bawl like a baby at every senior night event.
Aside from the hunting and gathering, there are other things to prepare yourself – and your kids for – as they prepare to leave home. The number one thing I ask parents of the college-bound is how much allowance do they plan on giving them? And how do you plan on giving it?
One friend told me her child is getting $100.00 a week. Cash. “How is she getting it?” I asked. “Why, the ATM,” she replied.
Her answer, as my daughter would say, was cringy.
Not the amount. The amount was not cringy – heck, give your kids as much money or as little money as you think is reasonable. That’s purely a budget decision. But please, please, pretty please, this Drug Counselor begs you: do not give them access to large amounts of unaccounted cash. Period. Do Not Do It.
Why?
Because your friendly neighborhood drug dealer only accepts cash. And because the students who could potentially supply your child with large amounts of alcohol for a binge drinking night only want cash. Cash is untraceable, as is your child. So limit this option.
I see a few college students in my clinic that got in way over their heads with some serious drinking and various drug use. Luckily, there were no sentinal events, but two landed in the hospital, one is now in rehab, and all were extremely lucky. Their parents were completely unaware of the level of their partying of course, because how could they possibly keep tabs on someone that’s not under their roof 24/7?
I know, I know. You’re reading this and thinking to yourself “Oh, this won’t happen to MY kid. MY kid’s not like that.” Trust me, I get it. That’s what we all think. The aforementioned kids all came from “good” families that live in “good” neighborhoods. But here’s the thing. According to a recent study by the National Institute on Alcohol Abuse and Alcoholism, almost 60 percent of college students aged 18-22 drank alcohol in the past month, and almost 2 out of 3 of them engaged in binge drinking during that same timeframe. And, in 2015, a University of Michigan study revealed that 38 percent of college students reported smoking marijuana in the past 12 months.
I plan on giving my son allowance, but he will use the credit card and debit card for most to all of his transactions. I know there are times when he will need cash, and he’ll have access to it, but it’s going to be extremely limited. And he’s going to have to account for every dime.
So please, please, add “little to no cash access” on your college kid’s list in the number one slot. This item is way more important than choosing the perfect comforter.
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