Despite the stereotype of the “broke college student”—the young adult who spends so much money on tuition and books that they’re reduced to a diet of ramen and tap water—this demographic actually has a considerable amount of spending power, and many businesses and industries have the potential to capitalize on this valuable consumer base. The question is, however, where are college students getting their money and—more importantly—where are they spending it?
Study Breaks College Media and Shweiki Media Printing Company recently surveyed 500+ college students on their spending habits. From restaurants and bars to marijuana to determine what students are spending their money on—and, in many cases, how much they’re spending.
-16% of students surveyed admit to spending money on marijuana every month.
-10% of surveyed students claim to spend at least $300 per year.
-1% admit to spending at least $6,000 per year.