Supplementing the tiny income

[Sleepy]

Hello All

I really don't think I will manage with the TAship that I have been awarded.

Its not like I have expensive tastes, I am pretty thrifty, but the rent at my school is really high, especially considering the location.

I was wondering if, from your experience, you think it would be best to rack up some more debt on my student loan, or to look for another job?

I was thinking of looking for some consulting gigs,or I can probably find a work-from-home job if I used some connections.

Or would you think it would be best if I held off on working and focused all my energy into finding a lucrative summer internship that could help me cover my basic expenses?

How have you managed with such a low income and such high expenses?

[Eigen]

I've mentioned this in other threads, but make sure the terms of your TAship don't prevent you from working elsewhere.

The TA/RAships in my program have an exclusivity clause- they can pull them if you are found to be working elsewhere while receiving departmental funding.

It's just something to keep in mind.

[Sleepy]

Does this include consulting and internships as well?

[hardcrashxyz]

Tutoring can be a good way to supplement income. Flexible hours. Cash.

Several graduate students in my old department gave plasma. Not a lot of money, but spending cash. Conductive to reading and studying while giving.

Edited March 31, 2011 by hardcrashxyz

[Eigen]

Tutoring can be a good way to supplement income. Flexible hours. Cash.

Several graduate students in my old department gave plasma. Not a lot of money, but spending cash. Conductive to reading and studying while giving.

Oh yeah- now that I remember, tutoring is the one thing exempt from our departments "external employment" rules. The basic idea behind them is that if you have time to be doing something else, and they're paying you to get your research done.... You should be spending that time in the lab/library instead of at another job.

[Sleepy]

Eh, I really hate teaching, so tutoring would be an even worse nightmare for me.

I'm just really frustrated because I'm not interested in a lavish lifestyle, but yet, on paper, I probably wont be able to make ends meet.

[robot_hamster]

So are you taking a cut in pay by going to grad school? I don't have any experience with that since I went straight from undergrad to graduate, so I'm used to living without much money. I worked retail, part-time all through undergrad. I kept at with my first semester of grad school since I wasn't offered funding. Then I got a TA position for my second semester. The funny thing is that I make more money as a TA than I did working at my job. I still work at my job here and there, but I'm not there very often. They don't have a problem with my working at my job. I am only required to put in a certain number of hours with my TA position. My tuition is waived and I am paid with a stipend. I'm not receiving funding for research though, so maybe that is why they don't care if I have a second job.

[Sleepy]

I also will only be TAing and not performing research, and I have a fixed amount of hours per week that I am required to work.

I tried to look up online what the school's restrictions are, but found nothing. I'm sure this doesn't mean anything, though.

I went to work full time after my masters. I will essentially have my pay cut in half.

The problem is the rent. It is extremely high. What kind of housing arrangement do you have and what percent of your income is it?

Edited March 31, 2011 by Sleepy

[Eigen]

My rent + utilities is about 40-45% of my income... Higher than I'd like, but I cut corners in other places.

[Sleepy]

I'm looking at about 2/3 of my income for rent and car payment (oh, and I can't sell the car because I will need it for school).

Edited March 31, 2011 by Sleepy

[jmacnomad]

Although the following idea would not work for everyone, it certainly proved to be a great option for me during my masters. I taught yoga, aerobic kickboxing, and karate and got paid between $20-30 an hour. What was great about that is that I got paid to do my workout. It's good stress relief for grad school and it provides a break from the computer that many other jobs don't. If you are athletic and coordinated, I'd recommend looking into certificate programs that would give you your foot in the door. I'm planning to work as a fitness/karate instructor during grad school whether I have a TA ship or not!

[ogopo]

The problem is the rent. It is extremely high. What kind of housing arrangement do you have and what percent of your income is it?

Are you planning on having roommates? That would certainly save you money.

[Sleepy]

Are you planning on having roommates? That would certainly save you money.

yes, this is with roommates.

[Amalia222]

I pick up extra work as a freelance writer, which is counted as "hobby income" in taxes, and does not affect the whole ta-ship thing.

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[Sleepy]

I pick up extra work as a freelance writer, which is counted as "hobby income" in taxes, and does not affect the whole ta-ship thing.

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Do they provide you with a W2 at the end of the year, or is it s schedule C?

I'm not trying to pry into your personal business, I was just wondering whether it is the fact that you work freelance and not full time that makes it ok, or does it also have a difference in taxation in order to make it permissible to work.

[Amalia222]

Do they provide you with a W2 at the end of the year, or is it s schedule C?

I'm not trying to pry into your personal business, I was just wondering whether it is the fact that you work freelance and not full time that makes it ok, or does it also have a difference in taxation in order to make it permissible to work.

No worries. With freelance, you do not get a W2. When they send you a check, you keep the receipt (the stub) and then claim it on your taxes under "hobby income". I think you have to make more than a certain amount per year (3000$? I'm not sure, though!) before it stops qualifying as a hobby. As a freelance writer, you are not an "employee" of any company...you work for yourself. They don't know anything about you other than your name and email address, most of the time. The amounts you get paid vary from piece to piece (the most I was ever paid for an article was $250). I think a lot of people don't bother even filing their freelance income, but I do so just to be on the safe side. It's rarely enough to make a big impact on my finances, but every little bit counts when you're a "starving artist/grad student" like me. :-)