According to Nationwide Insurance, college students spend the largest part of their money on discretionary expenses (46 percent), followed by room and board (26 percent), tuition and fees (19 percent), and miscellaneous other expenses (12 percent).Know More
Although tuition, fees and room and board consume a sizable portion of the average college student’s budget, there are many other products on which consume a large portion of a student's budget. College students spend a lot on food. Many students pay for a university meal plan, whereas others choose to cook for themselves, eat out or only eat some meals on campus. Along with food comes drink, which for many university students includes costly alcoholic beverages. Depending on the social habits of a student, alcohol can become a large expense.
Some students pay for transportation in the form of bus or train tickets or gas for cars. Students often pay the bills for textbooks or other school supplies, and for electronics, such as laptops, tablets, and smart phones. In a addition to electronics, the software that students need for certain classes also costs a considerable amount of money.
After all of those expenses, entertainment can consume a large portion of a student's budget. This can include movie tickets, music purchases, tickets to cultural events and more.Learn more about Economics
According to re:fuel's 2013 College Explorer report, college students spend 36 percent of their overall discretionary budgets on food. It is the largest expense of all discretionary spending done by college students.Full Answer >
Money is a positive thing for a society to have, since it provides citizens with a medium of exchange that they can use to pay for needed goods and services. Bartering was common before money became widely used, but it has limitations that make it much more inflexible than money.Full Answer >
The primary use of money is for the purchase of goods or services. Money allows for a one-sided purchase transaction, which is typically less complex than a barter system where one person exchanges an item of value for a similarly valued item owned by the other party.Full Answer >
As of 2013, there is approximately five trillion dollars of physical money in the world. The total value of cash and checking accounts is estimated to be 25 trillion dollars.Full Answer >