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

isa · 2009-05-13T06:40:50-07:00

I know this is going to vary a lot by person, but I was trying to get a sense of how much folks budget, or plan to budget, for "entertainment" (going out to bars/restaurants/movies/whatever). $500 per month? More? Less?

Steel

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15 Jul 2009, 09:11

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rca215

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rca215

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

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15 Jul 2009, 09:24

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Steel

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

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15 Jul 2009, 09:26

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maverick2011

Steel

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

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15 Jul 2009, 09:56

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isa

maverick2011

Steel

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

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15 Jul 2009, 10:14

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refurb

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

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15 Jul 2009, 10:18

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isa

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

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15 Jul 2009, 10:56

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isa

refurb

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

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15 Jul 2009, 11:26

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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

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15 Jul 2009, 11:30

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refurb

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

)

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15 Jul 2009, 12:07

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Steel

refurb

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

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15 Jul 2009, 19:58

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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.

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28 Feb 2016, 16:17

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$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.

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11 Apr 2017, 01:53

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Pre-party at home with cheap booze

Student Budgets - how much do you spend going out/month?

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