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Bayern · 04-26-2008, 11:20 PM

This question is obviously applies only for people who are more or less wellfunded. I hope my question does not sound ridiculous. I am pretty sure I will be broke before I go to grad school. Can one save by living just at a decent standard of living, enough to save for a trip, maybe to Europe (even if it is extremely short)? I want to go to europe while I am young and also while I am not working, so grad school looks like an ideal time. Can it be possible with years of grad school saving? Thanks in advance

YoungEconomist · 04-26-2008, 11:23 PM

I think you should be able to save up enough. I hope I can go on 1 trip per year during grad school (unlike undergrad, where I haven't been anywhere).

TruDog · 04-26-2008, 11:46 PM

That all depends on your choice of school. If you go to a public institution, you're much more likely to get a stipend ($12-$15k per year) that just meets your cost of living without much travelling. If you go to a top private institution, then it's entirely possible to get a stipend in the $20-$25k range, which will allow you the freedom to travel even after accounting for the generally higher cost of living at such institutions.

Antichron · 04-27-2008, 01:52 AM

I've gone on two Eurotrips so far, with another one coming up this summer. If you don't have children, you should be fine on money (depending on the stipend, of course), especially given that they typically keep you busy enough not to be able to have time to spend money on small things.

OneMoreEcon · 04-27-2008, 02:43 AM

Quote:

Originally Posted by Antichron

I've gone on two Eurotrips so far, with another one coming up this summer. If you don't have children, you should be fine on money (depending on the stipend, of course), especially given that they typically keep you busy enough not to be able to have time to spend money on small things.

I'm not so sure we should be relying on someone with an NSF Grad Fellowship to assess the standard of living for most grad students.

P=NP · 04-27-2008, 11:39 AM

For 10 months (including a month of math camp), I've spent around 20,000. That includes 9250 in rent, 1000-2000 in furnishings and 2000 for the airfare home. If I had a roommate, rent would have probably been around 6000-6500. I'm not sure how prices in New Haven compare, I would guess they're on the low side.

israelecon · 04-27-2008, 01:06 PM

i think in most places you can live for 15K-18K if you don't indulge too much in all kinds of expensive activities. also depending on your living situation taking a trip for a month or two can save you rent for a couple of months.

jeeves0923 · 04-27-2008, 02:22 PM

It is possible to do a 3 week eurotrip for around 2,000, even given the crummy exchange rate. So with any stipend, you should be able to skimp in enough other areas to be able to take a trip. Just take a little off the margins by getting generic brand food, don't eat out so many times, etc. I saved for it during high school working on minimum wage. Even if you don't save enough, I'm of the opinion that travel is always worthwhile. I spent last summer in Central Asia and will probably be spending next Spring in New Zealand. Borrow some money from a family member with your education as collateral. Travel while you are able. Pay when you are able.

economicus · 04-27-2008, 03:16 PM

Eurotrip... that reminds me of a movie

savingtheplanet · 04-27-2008, 06:16 PM

Quote:

Originally Posted by jeeves0923

Travel while you are able. Pay when you are able.

Wise words. PIH, anyone?

04-26-2008, 11:20 PM	#1 (permalink)
Bayern On the road... Join Date: May 2007 Posts: 403	How much do you guys save in grad school? Can one save for a eurotrip? :D This question is obviously applies only for people who are more or less wellfunded. I hope my question does not sound ridiculous. I am pretty sure I will be broke before I go to grad school. Can one save by living just at a decent standard of living, enough to save for a trip, maybe to Europe (even if it is extremely short)? I want to go to europe while I am young and also while I am not working, so grad school looks like an ideal time. Can it be possible with years of grad school saving? Thanks in advance

04-26-2008, 11:46 PM	#3 (permalink)
TruDog TestMagic Guru-in-Training Join Date: Aug 2006 Location: Midwest US Posts: 539	That all depends on your choice of school. If you go to a public institution, you're much more likely to get a stipend ($12-$15k per year) that just meets your cost of living without much travelling. If you go to a top private institution, then it's entirely possible to get a stipend in the $20-$25k range, which will allow you the freedom to travel even after accounting for the generally higher cost of living at such institutions. _ _ _ _ SIG _ _ _ _ University of Wisconsin-Madison--2nd Year

04-27-2008, 01:52 AM	#4 (permalink)
Antichron TestMagic Guru-in-Training Join Date: Sep 2005 Location: Cambridge, MA Posts: 594	I've gone on two Eurotrips so far, with another one coming up this summer. If you don't have children, you should be fine on money (depending on the stipend, of course), especially given that they typically keep you busy enough not to be able to have time to spend money on small things. _ _ _ _ SIG _ _ _ _ MIT Economics, class of 2011

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04-26-2008, 11:23 PM	#2 (permalink)
YoungEconomist TestMagic Guru Join Date: Dec 2006 Posts: 1,198	I think you should be able to save up enough. I hope I can go on 1 trip per year during grad school (unlike undergrad, where I haven't been anywhere).

04-27-2008, 11:39 AM	#6 (permalink)
P=NP Within my grasp! Join Date: Dec 2006 Posts: 106	For 10 months (including a month of math camp), I've spent around 20,000. That includes 9250 in rent, 1000-2000 in furnishings and 2000 for the airfare home. If I had a roommate, rent would have probably been around 6000-6500. I'm not sure how prices in New Haven compare, I would guess they're on the low side.

04-27-2008, 01:06 PM	#7 (permalink)
israelecon TestMagic Guru-in-Training Join Date: Feb 2008 Posts: 537	i think in most places you can live for 15K-18K if you don't indulge too much in all kinds of expensive activities. also depending on your living situation taking a trip for a month or two can save you rent for a couple of months.

04-27-2008, 02:22 PM	#8 (permalink)
jeeves0923 Within my grasp! Join Date: Mar 2008 Posts: 332	It is possible to do a 3 week eurotrip for around 2,000, even given the crummy exchange rate. So with any stipend, you should be able to skimp in enough other areas to be able to take a trip. Just take a little off the margins by getting generic brand food, don't eat out so many times, etc. I saved for it during high school working on minimum wage. Even if you don't save enough, I'm of the opinion that travel is always worthwhile. I spent last summer in Central Asia and will probably be spending next Spring in New Zealand. Borrow some money from a family member with your education as collateral. Travel while you are able. Pay when you are able.

04-27-2008, 03:16 PM	#9 (permalink)
economicus TestMagic Guru-in-Training Join Date: Jan 2005 Posts: 654	Eurotrip... that reminds me of a movie

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