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Day to Day Costs

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Intern
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Day to Day Costs  [#permalink]

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New post 12 Aug 2018, 06:32
I am going to enroll for a '19 2 year MBA program and am trying to project how much money I need to save for daily expenses and the like. I am active military (post 9/11 GI Bill) and plan to take out student loans, so I'm not as concerned with the tuition costs, moreso how much I should plan on spending for basic everyday costs like food, school events, trips, etc.

I will have around 25-35k saved- will that be enough (not including rent) or will I need to look into getting a personal loan?

Thanks!
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Re: Day to Day Costs  [#permalink]

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New post 12 Aug 2018, 18:37
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sheehanj wrote:
I am going to enroll for a '19 2 year MBA program and am trying to project how much money I need to save for daily expenses and the like. I am active military (post 9/11 GI Bill) and plan to take out student loans, so I'm not as concerned with the tuition costs, moreso how much I should plan on spending for basic everyday costs like food, school events, trips, etc.

I will have around 25-35k saved- will that be enough (not including rent) or will I need to look into getting a personal loan?

Thanks!


Hi,

There are 2 scenarios to this.

1. If you share your room with your future classmate:

The average monthly expense should be around 1400-1800. This includes your food and travel expense. And this estimate is high and depends on the school you are choosing.

2. Living alone:

The average monthly expense will be around 2800-3600. This again is a ballpark number and depends on the rent.


Coming back your question about expense apart from rent. I feel $500-$750 a month. If you wish to eat out daily and enjoy food and travel in uber instead of metro etc. But I have seen people spend only about $300 max for their food and travel for a month. So your saving of 25-30K should be more enough for living. I would say it is enough for lavish spending on food and travel for two years :grin: :-D
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Re: Day to Day Costs  [#permalink]

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New post 11 Oct 2018, 09:08
Well that should suffice. Pretty much depends on which city and state you live in. can you add up more details?
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Re: Day to Day Costs   [#permalink] 11 Oct 2018, 09:08
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