It is very common to see students spending more money than what they should. When it comes to school students, it is a little easier to control. As a parent, the amount of money we give our children is totally controlled by us. We have the freedom to cut down their budget a little any time. Also, if there is an extra spending they are asking for money for; it is easy to verify it with the school. That is why the amount of money a school student spends is kind of limited, and they can only save according to how little they spend.
In the case of a more mature student, for example one from university, it is a little more complex. It will depend on the situation. If this student is able to supply their own needs with a job, it is a lot harder that they would spend unnecessarily. However, when the money is given to college students by their parents, they can easily spend it on things they don't really need or should. As a parent, what should you do?
I am sure you want your sons and daughters to know about the value of money and spend it in the best way possible. Surely, you want them to learn how to save their money. Well, the best way for them to know these things is to teach them to earn their own money. It is very interesting to see how a young person can earn money easily, as they have much more energy than grownups. Little by little, those students that work will know how hard it is to get money, and spend it wisely.