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[anon99]

My rent is about $850 a month in a rather nice university-owned apartment, but if I were prepared to commute I could definitely find cheaper housing; I just happen to like being able to walk to campus.

That may be true, but how much is a transit pass or what does it cost to own/maintain a car.  If you can get by without a car, it will save you a lot of money.

I think as others said you need to determine what your needs are vs your wants and that will differ for people who are single, couples or family and the town you live in.  Be honest with yourself and keep track of your expenses by recording them in a small notebook for a month or two.  You will be surprised at what you spend money on and how much.

racketsports... I know a grad student who is single and insists that he needs $500/month for food.  He claims it is because he likes to eat good food...and no I am not talking about caviar.  Sadly he gets a reality check when he does field work as his food budget is no where near that large.

[smallways]

racketsports... I know a grad student who is single and insists that he needs $500/month for food.  He claims it is because he likes to eat good food...and no I am not talking about caviar.  Sadly he gets a reality check when he does field work as his food budget is no where near that large.

That is completely insane. When I was poor I could make it through a week on $20 easily- a small package of ground beef parcelled out into many meals, a big bag of cheap veggies, a $1 packet of cookies for sugar cravings, couscous, rice, and a few cans of beans. That usually left enough for one of the $6 bottles of glorified malt liquor that they market to hipsters out here, which was good for a whole evening.

[carebearstare]

I did my graduate work in NYC, and my stipend was under $20K. I also lived alone for the majority of grad school, until I moved in with my partner.

So, here's what my experience and that of my colleagues tells me:

1. Cheap rent means outer boroughs. That used to be Brooklyn, but now it's Queens. The Bronx is even cheaper, and Staten Island is the cheapest. That may mean a helluva commute to campus, but if you're paying less than a grand, it's worth it.

2. Adjunct, adjunct, adjunct. I knew of people who taught 5 or 6 classes a term in order to make ends meet.

3. Loans. I didn't take them at first but later it became necessary. I found I only needed an extra couple hundred a month though, so I took about $5K a year out.

4. Cost cutting in every possible way. No new clothes, no taxis, cheap happy hours, no new furniture, etc.

Living in NYC as a grad student was tough, but also awesome. I wouldn't have traded it for anything. It's a place that will take up as much money as you give it, but it's also possible to live cheaply. And there are lots of free offerings that you just won't get in another place.

[wet_blanket]

2. Adjunct, adjunct, adjunct. I knew of people who taught 5 or 6 classes a term in order to make ends meet.

3. Loans. I didn't take them at first but later it became necessary. I found I only needed an extra couple hundred a month though, so I took about $5K a year out.

These two seem like the best money making options, but I've often wondered how international students survive on their stipends in NYC given that these options aren't available to them.

[reprobate]

These two seem like the best money making options, but I've often wondered how international students survive on their stipends in NYC given that these options aren't available to them.

There are ways to do it. I have several friends who are international students and they are allowed to work up to 20 hours a week on-campus during term time, moving up to unlimited during the vacations. I don't think you can adjunct on a student visa, though. Loans are more tricky; you can get them, but unless you've already built up a credit history in the US (usually been there a coupla years already) you need a green card or US Citizen to co-sign the loan, so if you're coming in fresh off the boat, as it were, you're pretty much screwed.

[wet_blanket]

These two seem like the best money making options, but I've often wondered how international students survive on their stipends in NYC given that these options aren't available to them.

I have several friends who are international students and they are allowed to work up to 20 hours a week on-campus during term time, moving up to unlimited during the vacations.

The problem is that often the 20hrs is taken up by TA/RAships for the regular stipend.

People seem to be able to make it work, though.  I guess it's a matter of adjusting lifestyle downwards.

[mfaer]

2. Adjunct, adjunct, adjunct. I knew of people who taught 5 or 6 classes a term in order to make ends meet.

3. Loans. I didn't take them at first but later it became necessary. I found I only needed an extra couple hundred a month though, so I took about $5K a year out.

These two seem like the best money making options, but I've often wondered how international students survive on their stipends in NYC given that these options aren't available to them.

Sigh...I had to suck it up and apply for loans this upcoming year too (not much...about 3K).  I told myself before entering my program, "I will NOT take out any loans" for my PhD degree, yet, because I'm making payments on my car (I have one more year of payments left), my credit card debt has raised by about 1K in the past year, since entering my program.  Better a low interest student loan for a year than jacked-up credit card interest rates.

I also second the adjuncting route--esp. if your field is a high demand field that is offered online at for-profits.  I just picked-up a comp gig for a for-profit that I can work from home.  Lots of flexibility and no gas.  If you're interested in online tutoring, check out Smarthinking, too.

[frogfactory]

These two seem like the best money making options, but I've often wondered how international students survive on their stipends in NYC given that these options aren't available to them.

I have several friends who are international students and they are allowed to work up to 20 hours a week on-campus during term time, moving up to unlimited during the vacations.

The problem is that often the 20hrs is taken up by TA/RAships for the regular stipend.

People seem to be able to make it work, though.  I guess it's a matter of adjusting lifestyle downwards.

I'm in exactly that situation.  I'm reasonably well off on $26k in another notoriously expensive city.  But I'm used to living frugally, and sniffing out good deals on rent.  I don't own a car (and if I do get one, it won't get driven much) and I don't smoke, which helps.  But as I've mentioned on other threads, this is enough that I'm living more comfortably than I did as a full time office manager in London.  My lifestyle isn't quite middle class, but really, it's fine.  I don't worry about money, I eat (mostly) organic wholewheat free-range meat and veg, I eat out a couple of times a week.  I allow myself one big splurge (shoes, video game, whatever) a month.

  Compared to my peers who are now medical doctors I'm poor - I certainly can't go on holiday abroad 5-7 times a year like they do - but I don't feel limited.  Pollymer I think nailed it.  If your mindset matches the money you have, above a certain threshold you're set.

[mfaer]

More on Smarthinking for those interested--they pay $11/hr, not much, but the shifts are flexible (24 hrs, 7 days a week, except for some holidays).  Working 8-10 hours a week for them can make you an extra 300-400/mo.  I don't think they'll mind me advertising for them, since they post job ads here quite often. I know for a fact that they can't hire enough writing tutors (for those with comp experience and an MA).

 

[mfaer]

http://smarthinking.com/static/e-structors/positions/

[wannabeaphd]

The best advice I can give is to not eat out and think very carefully about what you need to spend money on.

I just finished a MA program in LA and now my partner is in a MA program in Boston. We are doing academia one at a time to help with costs and so one of us can at least get a full-time office job that covers rent and bills.

We decided that it was more important for us to live somewhere nice than to eat well. We live in studio apartments but it is necessary that we live in a reasonably safe place, somewhere that is relatively close to the institution, and that has working plumbing and other necessities of life. To make that work, we never eat out. Eating out is nothing but luxury. It is an un-necessary expense. We are also vegetarians. We have a car but use public transport when we can. The single biggest expense in moving from Cali to MA, was updating our wardrobe. We still wear what we wore in college, but now we layer that under sweaters, fleece, light jackets, or heavy coats. Buy necessary items on sale and don't ever pay for entertainment! We have never had TV at home. We only pay for internet if there is no free wifi close. And we save everything we have left over.

[hipgeek]

Definitely don't get cable. You don't need it.  I hate when people with cable complain about finances. It makes me want to smack them upside the head. 

I did take out loans and don't regret it too much (yet).  In grad school I need as much time and focus as possible to do good work and after over-adjuncting this semester, I would like to offer advice from experience that time budgeting may be just as crucial for you as money budgeting.

[verysneaky]

A few tips for not feeling deprived:

Make sure to cook with other people. It will help enormously if you have a group of friends (close or not that close) who are willing to cook with you, share leftovers, etc. If meals are a social occasion, you will feel a lot less deprived and keep your grocery bill much lower.
I find that I eat a lot of pasta salad and three-bean salad during the week. I also stir-fry lots of broccoli and carrots (super-cheap, extremely fast, and very nutritious; good with all kinds of cheap stir-fry sauces). Sandwiches are a great way to stretch the budget and can be nutritious if you throw a bunch of vegetables on them. Basically, I eat a vegetarian diet during the week, and then have a big meal with friends on the weekends (either at someone's house or at a restaurant).
I also think it's extremely important to figure out where you get the most bang for your buck and spend some money there. I like to spend my money on beverages: good coffee and tea and alcohol that doesn't suck (not high-end but not rot-gut either). I bargain shop in these categories too: basically, for my indulgences, I buy the best value in the mid range, like the best moderately priced whiskey or best supermarket brand coffee (after having shopped around extensively).
Finally, I think it's important to be both vocal, positive, and proactive about your goals of saving money, especially in the context of friendships where the other person is a professional. It's hard to turn down a second martini in the moment if you're meeting your lawyer friend from out of town. It's better to make a light joke about your need to save money (grad school, you know how it is) WHILE you're making plans, and then take the person to do something fun (sightseeing and then drinks at your place, whatever). One great thing about super-expensive areas is that they usually include a lot of cheap or free things for out-of-towners, too.

[prytania3]

Do schools in really expensive areas help you out with housing?

It depends on what you mean by 'help'--at my particular university, there is a giant, newish building for grad school housing. The only thing is that it's ridiculously expensive--by law you must buy a meal plan as well as paying your rent, so it comes out to over $1000/month. And you know that if you were living on your own, you sure as h#ll wouldn't be spending upwards of $500/mo on food!!!

Are you kidding? When's the last time you were in a grocery store? A grand a month for room and board is a deal and a half.

[commcycle]

Definitely don't get cable. You don't need it.  I hate when people with cable complain about finances. It makes me want to smack them upside the head. 

You can just get broadband Internet access and stream or download most of the shows you would watch on cable. This also encourages more planned watching, versus complete vegging out.