Student Budgets - how much do you spend going out/month? : Business School Life

nink

SVP

Joined: 07 Nov 2008

Status:Burning mid-night oil....daily

Posts: 2396

Schools:Yale SOM 2011 Alum, Kellogg, Booth, Tuck

WE 1: IB - Restructuring & Distressed M&A

Re: Student Budgets - how much do you spend going out/month? [#permalink]

14 Jul 2009, 13:07

rca215 wrote:

3) Alcoholics. Generous Budget. :cry:

100% agree rca. Everytime I meet up with fellow Yale admits, my alcohol consumption and its related expense balloons up to a ridiculous level.....God knows what's gonna happen once I have to hang out with these guys everyday once the school starts. :-D

solaris1

VP

Joined: 05 Aug 2007

Posts: 1431

Schools:NYU Stern '11

Re: Student Budgets - how much do you spend going out/month? [#permalink]

14 Jul 2009, 16:56

Not sure if mid-terms and finals will change anything, but anybody considering NYU Stern and not wanting to be considered a social outcast could probably count on spending on 30$ a night!

Okay, no I'm not entirely serious but the past 10 days have certainly suggested so. Business school is sort of awesome.

Rubashov1

Director

Joined: 14 Sep 2007

Posts: 866

Schools:Kellogg '10

Re: Student Budgets - how much do you spend going out/month? [#permalink]

14 Jul 2009, 19:34

nink wrote:

rca215 wrote:

3) Alcoholics. Generous Budget. :cry:

100% agree rca. Everytime I meet up with fellow Yale admits, my alcohol consumption and its related expense balloons up to a ridiculous level.....God knows what's gonna happen once I have to hang out with these guys everyday once the school starts. :-D

Almost halfway through my first full month, I'm 48% over budget. :shock:

On non-rent/utilities/non-ordinary items, I've spent $45/day so far. This is unsustainable.

Steel

Current Student

Joined: 15 Jan 2008

Posts: 347

Location: Evanston, IL

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 09:11

rca215 wrote:

nink wrote:

rca215 wrote:

3) Alcoholics. Generous Budget. :cry:

100% agree rca. Everytime I meet up with fellow Yale admits, my alcohol consumption and its related expense balloons up to a ridiculous level.....God knows what's gonna happen once I have to hang out with these guys everyday once the school starts. :-D

Almost halfway through my first full month, I'm 48% over budget. :shock:

On non-rent/utilities/non-ordinary items, I've spent $45/day so far. This is unsustainable.

Its best to throw away your b-school budget. Ignorance is bliss.

maverick2011

Current Student

Joined: 27 Feb 2008

Posts: 296

Schools:Kellogg Class of 2011

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 09:24

Steel wrote:

Its best to throw away your b-school budget. Ignorance is bliss.

I can see that already...I've already caught myself saying "what's another $XXX when I'm already going into debt $100K+?"

isa

Current Student

Joined: 04 Dec 2007

Posts: 1687

Schools:Kellogg '11

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 09:26

maverick2011 wrote:

Steel wrote:

Its best to throw away your b-school budget. Ignorance is bliss.

I can see that already...I've already caught myself saying "what's another $XXX when I'm already going into debt $100K+?"

I was speaking with a friend of mine who just finished his first year at bschool, he pretty much said "take your estimated budget, add 10k, that's your real budget." Sigh. :shock:

refurb

Current Student

Joined: 28 Feb 2008

Posts: 1321

Schools:Tuck

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 09:56

isa wrote:

maverick2011 wrote:

Steel wrote:

Its best to throw away your b-school budget. Ignorance is bliss.

I can see that already...I've already caught myself saying "what's another $XXX when I'm already going into debt $100K+?"

I was speaking with a friend of mine who just finished his first year at bschool, he pretty much said "take your estimated budget, add 10k, that's your real budget." Sigh. :shock:

Actually, that makes me feel better because I was thinking something along those lines.

If you add up all the extras like club fees, going out for drinks/food, maybe some cash for equipment (say if you want to take up rock climbing or hockey) and then take advantage of the opportunity to travel, I could see it coming to an extra $10K.

RF

isa

Current Student

Joined: 04 Dec 2007

Posts: 1687

Schools:Kellogg '11

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 10:14

refurb wrote:

Actually, that makes me feel better because I was thinking something along those lines.

If you add up all the extras like club fees, going out for drinks/food, maybe some cash for equipment (say if you want to take up rock climbing or hockey) and then take advantage of the opportunity to travel, I could see it coming to an extra $10K.

RF

Another suggestion he had was to avoid frequently dining out with friends, since in most non-fastfood/diner restaurants, each meal can quickly set you back about $30. Three or four times a week, that's easily a $100 right there.

refurb

Current Student

Joined: 28 Feb 2008

Posts: 1321

Schools:Tuck

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 10:18

isa wrote:

Another suggestion he had was to avoid frequently dining out with friends, since in most non-fastfood/diner restaurants, each meal can quickly set you back about $30. Three or four times a week, that's easily a $100 right there.

I think food and drink are the big killers. Each time isn't a lot of money, but it can add up fast!

Unfortunately the place I've got isn't that great for inviting people over, but grabbing a few pizzas and a case of beer and heading over to someone's place can be a lot cheaper and sometimes more fun!

RF

Steel

Current Student

Joined: 15 Jan 2008

Posts: 347

Location: Evanston, IL

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 10:56

isa wrote:

refurb wrote:

Actually, that makes me feel better because I was thinking something along those lines.

If you add up all the extras like club fees, going out for drinks/food, maybe some cash for equipment (say if you want to take up rock climbing or hockey) and then take advantage of the opportunity to travel, I could see it coming to an extra $10K.

RF

Another suggestion he had was to avoid frequently dining out with friends, since in most non-fastfood/diner restaurants, each meal can quickly set you back about $30. Three or four times a week, that's easily a $100 right there.

haha - definitely easy in the Fall with all the free meals. Winter you're so busy with recruiting, dinner out isn't going to happen as often. Spring you're going to be more than happy to spend that $100 on the great restaurants of Chicago (even formed a dinner club with friends this Spring to do just that). It was such a success (though obviously a weight on the wallet) that we're continuing it this year.

refurb

Current Student

Joined: 28 Feb 2008

Posts: 1321

Schools:Tuck

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 11:26

I wonder if student spending goes up or down over time?

Personally speaking, I would be a lot more willing to spend cash if I knew I had already secured a post-MBA job.

I would be too scared to spend $100 on a dinner if I didn't even know if I would have a job when I finished school!

RF

Steel

Current Student

Joined: 15 Jan 2008

Posts: 347

Location: Evanston, IL

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 11:30

refurb wrote:

I wonder if student spending goes up or down over time?

Personally speaking, I would be a lot more willing to spend cash if I knew I had already secured a post-MBA job.

I would be too scared to spend $100 on a dinner if I didn't even know if I would have a job when I finished school!

RF

haha - no no no - $100 on three dinners.... much more reasonable (saving the $100 dinners for when I get that sweet post-MBA job

)

refurb

Current Student

Joined: 28 Feb 2008

Posts: 1321

Schools:Tuck

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 12:07

Steel wrote:

refurb wrote:

I wonder if student spending goes up or down over time?

Personally speaking, I would be a lot more willing to spend cash if I knew I had already secured a post-MBA job.

I would be too scared to spend $100 on a dinner if I didn't even know if I would have a job when I finished school!

RF

haha - no no no - $100 on three dinners.... much more reasonable (saving the $100 dinners for when I get that sweet post-MBA job

)

Oh!! That makes me feel better! :oops:

RF

togafoot

Current Student

Joined: 18 Dec 2007

Posts: 983

Location: Hong Kong

Concentration: Entrepreneurship, Technology

Schools: Hong Kong University of Science and Technology (HKUST) - Class of 2010

Re: Student Budgets - how much do you spend going out/month? [#permalink]

15 Jul 2009, 19:58

or learn to cook

It's quite feasible to knock out restaurant quality food in 30 mins (or less depending on what you are making).
Just requires you to teach yourself the art of the pallette (knowing what ingredients blend well together) and the basic cullinary skills (e.g. how to seal meat, resting food to let it cook through without making it rubbery, what temperatures cause what type of flavours, the impact on flavour through roasting, poaching, frying etc.)

Obviously helps if you enjoy cooking.

VeritasPrepMike

Veritas Prep Admissions Consultant

Joined: 19 Aug 2015

Posts: 324

Re: Student Budgets - how much do you spend going out/month? [#permalink]

28 Feb 2016, 16:17

Expert Reply

$500 per month on going out seems pretty high to me. Obviously a lot of this will depend on where you are going to school. Your budget will be a lot higher in Boston or New York compared to Evanston or Ann Arbor. Remember, you don't have to go out every night. Or go to expensive dinners if you don't want to.