tortoiserun wrote:
It really comes down to where you go to school and how much discipline you have, but in general, I would say be prepared to spend as much as you're spending right now. I came from a high cost of living area (LA) and am at school in a much lower cost of living area (Ann Arbor), and my monthly spending is as much as it was when I was working, if not a bit higher. Those MBA activities and socializing really add up!
As for the summer months, I was able to easily cover my expenses with the money I made in my internship, so unless you are planning on a non-traditional internship that doesn't pay a standard MBA amount, I wouldn't worry about that.
I'd say my class is about 50/50 with regard to having roommates or living alone. In more expensive cities, more people have roommates, from what I understand.
Thanks, I'm doing the opposite. I'm going from Colorado with a really low cost of living to Columbia with a really high cost of living. I'm married so won't have a roommate and have the added expenses of my wife's spending!
So my guestimate right now is looking like around $3,750/month in living expenses. Add to that the tuition, health insurance, fees, books, etc and I'm looking at $110k for my first year without any travel expenses. Being married I won't have any roommates to split costs obviously but my wife should be working full time at least.