How do college students spend their money?

College student spending power has taken an increase from $237 billion in 2008 (Bush, 2008) to a projected $250 billion in 2010 (MediaWeek, 2010). Where is all of this money going?
In Du & Kamakura’s (2008) conducted a research study on household budget allocation and consumption priorities using the CEX family extracts made available by the National Bureau of Economic Research (NBER) (66,368 households from ’82-’03). “On average, food and clothing took a smaller portion of the household budget over the years, whereas health insurance took a larger share. Although the incidence rate of tobacco usage decreased during the 22- year period, tobacco consumption took an increasing portion of the budget among those who still smoke. The portion of the budget allocated to motor and home fuel decreased substantially in the 1980s but seems to have increased in the last few years” (Du & Kamakura, 2008, p. 115).
According to the US Bureau of Labor Statistics (2008), for persons under the age of 25 years of age in 2008, spending on food totaled $4,447 with $2,117 of food being consumed out of the home. Housing totaled $9,975; utilities, fuel and repairs totaled $1,875; $1,351 was spent on clothing and services; and transportation totaled $5,464. These numbers are listed in their “Age of reference person: Average annual expenditures and characteristics, Consumer Expenditure Survey, 2008 (Table 3).”