ramprasad Posted June 2, 2009 Share Posted June 2, 2009 I'm trying to allocate me stipend. What % of your stipend should you allocated towards (on a monthly basis): Rent (including utilities, internet) Food Recreation Transportation (although I plan to walk) Child/ Spousal Care etc etc Is there any big ommission? I also want to try to save a portion so that I can do some travelling next summer. Is this possible ?? Link to comment Share on other sites More sharing options...
Dreams Posted June 2, 2009 Share Posted June 2, 2009 I have some loan that I need to pay off. My grace period ends soon, and I'll need to start making monthly payments. Are there any of you who're paying off loans off your stipends? In that case, what % (or how much) are you paying of your stipend? Are these federal loans from your undergrad studies that you are paying off? If so then they can be deferred while you are in grad school. If not, then contact your lender about seeing if you can qualify for forbearance. That way, you will not have to worry about the payments for a while. Link to comment Share on other sites More sharing options...
aginath Posted June 3, 2009 Share Posted June 3, 2009 I can't speak to all of these, but I am in the boat of budgeting a stipend to include a spouse. I already use a spreadsheet to budget and track income and expense. About a week ago, I created a copy that would take into consideration my severe decrease in salary. Based on the budget, I'm anticipating: Rent/mortgage: $750 Phone: $100 Electricity/Gas: $160 Internet/TV: $70 Vehicle payment: $340 Vehicle insurance: $60 Fuel: $75 DVD/Entertainment: $35 Total: $1590 Yes, that is well above any stipend I might expect, but my spouse is a Paramedic and has income of his own. My estimates are based on current expenses for those categories and research of current costs in the city to which we're moving (Athens, GA). We currently have two cars, but I am planning on selling one of them when we move and relying on walking/biking or city buses. The bus is free for students (yay!). We both currently have BlackBerries, but will be downgrading from SmartPhones to just a general cell phone with messaging capabilities; this means a decrease in our data plan requirements. I currently have a number of credit card payments that will be paid off right as school starts, and I currently have two student loans (one state, one federal) in repayment. I will opt to defer both of them in the Fall and resume payments again after graduation (and likely a reconsolidation, if necessary). When I started this task, I simply took my current salary and compared it to my stipend "salary." That told me at the very least how much I needed to cut from my monthly expenses. In an effort to be cautious, I kept trimming knowing that my husband may not make as much as he makes now. Link to comment Share on other sites More sharing options...
MaximKat Posted June 3, 2009 Share Posted June 3, 2009 Am I missing something or your budget doesn't include food? :? Link to comment Share on other sites More sharing options...
ramprasad Posted June 3, 2009 Author Share Posted June 3, 2009 I noticed the missing allocation for food as well. But thanks for all your contributions - I hope more come. Link to comment Share on other sites More sharing options...
aginath Posted June 3, 2009 Share Posted June 3, 2009 Sorry! Grocery line is $300/month Link to comment Share on other sites More sharing options...
MaximKat Posted June 3, 2009 Share Posted June 3, 2009 Sorry! Grocery line is $300/month is it for two people? Link to comment Share on other sites More sharing options...
Dreams Posted June 3, 2009 Share Posted June 3, 2009 is is for two people? Have you seen the price of fresh veggies lately? Food is expensive if you expect to be eating anything other than ramen and eggs! Link to comment Share on other sites More sharing options...
MaximKat Posted June 3, 2009 Share Posted June 3, 2009 actually, I have no idea about US prices, so I would appreciate a more direct answer Link to comment Share on other sites More sharing options...
aginath Posted June 3, 2009 Share Posted June 3, 2009 Yes, that is for two people. We make our own bread and have a vegetable garden (we can/freeze surplus). That figure is beans, meats, cleaning supplies, and the occasional junk food. Link to comment Share on other sites More sharing options...
rising_star Posted June 4, 2009 Share Posted June 4, 2009 If it helps, I spend about $120-150/month on groceries for one person. I don't make my own bread or anything like that but I do use my crockpot to cook meals and try not to eat out much. I also buy things like frozen dinners for quick dinners after a late day at school. I do bring my lunch with me basically every day though. Link to comment Share on other sites More sharing options...
ramprasad Posted June 4, 2009 Author Share Posted June 4, 2009 I do bring my lunch with me basically every day though. How do you take your lunch to school? Is there a special bag to keep it warm (or cold) for hours? I hope you don't eat only sandwiches and salads. Me likes spicey food, and can't think of a way to keep the smell away. But $120-$130 gives me a lot of hope about my survival. Thanks. Link to comment Share on other sites More sharing options...
rising_star Posted June 4, 2009 Share Posted June 4, 2009 We have a graduate student lounge which has a refrigerator (with freezer) and a microwave. A lot of times I make extra food for dinner and eat the leftovers for lunch. Not to mention, I do eat a lot of fresh fruit, a decent variety of fresh veggies, and a lot of frozen veggies. I don't buy organic but I do by locally-grown produce both at the grocery store and at the farmer's market. Link to comment Share on other sites More sharing options...
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