How to Make a Medical School Budget- Part 3

I’ve wrote at length about my commitment to budget during school.

Here is my projected school budget.

  School living expenses predicted School Actual
   
Rent 750  
Utilities 87  
transportation 60  
phone 40  
groceries/personal care 250  
restaurant 50  
clothes 50  
gifts 0  
alcohol 60  
entertainment 50  
bank fees 0  
savings 0  
debt repayment 0  
retirement 0  
Travel 0  
Income 0  
spent 1397  
Difference -1397  
  personal savings rate:  

This is comfortably under my goal max budget of $1429/month! Let’s hope this good plan will carry me through!

It’s pretty important to me as I will be financing my living through school primarily through credit.
If I can keep to my goal max budget, that translates into

$17 148/year and

$51 444/3 years of debt

Just for living expenses.

Yikes!

My loan will be at a decent rate of prime for the duration of my studies and training, but it’s still a loan!

Hopefully thinking about how I will get charged 3% interest immediately plus the cost of whatever I buy will help me think about whether I need something or not during school.

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