Living Within Your Means

As a graduate student, I have loan support for my academic expenses, but there are other costs that build up, aside from tuition. Here are some tips to minimize the other expenses you will face.


Using Credit

I received my first credit card three months ago. Why did I wait so long? I never had a problem living within the means of my paycheck up until then. If I didn’t have the money, I didn’t spend it. But credit is necessary in graduate school for paying any tuition balances, booking that flight home for the holidays, and just in case of emergencies. Try to limit your credit purchases to when you absolutely cannot swing the amount at the moment—but always be thinking that you need to swing the money soon. Never use credit for any purchase that you are certain you can't afford, because you’re right, you can’t. Before going out to the bar or to a restaurant, think before you swipe. The last thing you need is the horrible burden of credit card debt. Chances are you already are feeling the sting of loan debt!


Food

When your graduate classes begin at that witching hour of 6 PM, it can be very easy to run across the street to your favorite eatery and grab a $7 sandwich for dinner. Have classes 2 or 3 times a week? That $21 can go towards weekend funtivities or a new outfit. Invest in a loaf of bread, cold cuts, salad fixings, fruit, various snacks, and a small cooler to make your own meals to bring to class. You can get multiple meals for the price you would pay for a pre-made sandwich at the local café.


Utilities—Namely Air Conditioning

During the brutal summer months when temperatures stretch into upper 80s and 90s, air conditioning becomes necessary for survival, but it can really crank up your electric bill. If you only have a budget for one window unit, put it in your bedroom. Sleep, especially as a grad student, is a precious thing. Turn on the unit about 20 minutes before you’re ready to turn in for the night. Check Facebook one last time, brush your teeth, or get your clothes ready for the next day. These 20 minutes are just enough to cool your room down, and if you keep that bedroom door securely closed, your room should remain comfortable for the rest of the night. Still need a little extra breeze? Invest in a small table fan to keep close to your bed. It will use far less electricity than that window unit and still keep you cool as a cucumber!


It can be the small things that you do that can really decrease your weekly and monthly expenses, but those alterations in your lifestyle can mean a more comfortable and stress-free grad student experience.