Last visit was: 07 May 2026, 10:05 It is currently 07 May 2026, 10:05
Home
Messages
Tests
Schools
Events
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
Back to Forum
Create Topic
   1   2   3 

How much?

You may select 1 option
View results
User avatar
89nk
User avatar
Joined: 05 Feb 2008
Last visit: 16 Dec 2012
Posts: 321
Own Kudos:
59
Given Kudos: 10
Location: Texas
Posts: 321
Kudos: 59
What's your monthly budget for everything? 01 Apr 2008, 22:30
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Just wondering, how much should a person save for business school? I mean a reasonable amount.
User avatar
kryzak
User avatar
Major Poster
Joined: 04 Jun 2007
Last visit: 10 Aug 2013
Posts: 5,452
Own Kudos:
751
Given Kudos: 14
Status:Um... what do you want to know?
Location: SF, CA, USA
Concentration: Technology, Entrepreneurship, Digital Media & Entertainment
Schools:UC Berkeley Haas School of Business MBA 2010
GPA: 3.9 - undergrad 3.6 - grad-EE
WE 1: Social Gaming
Posts: 5,452
Kudos: 751
What's your monthly budget for everything? 01 Apr 2008, 22:43
Kudos
Add Kudos
Bookmarks
Bookmark this Post
from the looks of it, for one person, $2500 is a good amount per month. You'll be in school for 18 months (not counting 3 month internship), you'll need $45K for personal expenses. Add tuition to that ($30K for CA instate, $45K for most private schools), that's another $60-90K.

So I would say saving $125K is a safe bet, and offset with some loans...

It's not "reasonable", but it's what you need to get through business school.
User avatar
bherronp
User avatar
Current Student
Joined: 24 Apr 2007
Last visit: 30 Mar 2010
Posts: 588
Own Kudos:
17
Posts: 588
Kudos: 17
What's your monthly budget for everything? 02 Apr 2008, 08:02
Kudos
Add Kudos
Bookmarks
Bookmark this Post
89nk
Just wondering, how much should a person save for business school? I mean a reasonable amount.
Show more

I am realistically targeting having about 30-35k in cash at the time that I quit my job. We bought a new TSX in October of '06, which we wouldn't have done had I been committed to the idea of getting my MBA at the time. We paid it off in December. Now I kind of wish that we hadn't bought such an expensive car, then I could have about 50k headed in.
User avatar
kryzak
User avatar
Major Poster
Joined: 04 Jun 2007
Last visit: 10 Aug 2013
Posts: 5,452
Own Kudos:
751
Given Kudos: 14
Status:Um... what do you want to know?
Location: SF, CA, USA
Concentration: Technology, Entrepreneurship, Digital Media & Entertainment
Schools:UC Berkeley Haas School of Business MBA 2010
GPA: 3.9 - undergrad 3.6 - grad-EE
WE 1: Social Gaming
Posts: 5,452
Kudos: 751
What's your monthly budget for everything? 02 Apr 2008, 11:24
Kudos
Add Kudos
Bookmarks
Bookmark this Post
bherronp
I am realistically targeting having about 30-35k in cash at the time that I quit my job. We bought a new TSX in October of '06, which we wouldn't have done had I been committed to the idea of getting my MBA at the time. We paid it off in December. Now I kind of wish that we hadn't bought such an expensive car, then I could have about 50k headed in.
Show more

TSX's are 50K? I thought they were the smaller Acuras, right?
User avatar
bherronp
User avatar
Current Student
Joined: 24 Apr 2007
Last visit: 30 Mar 2010
Posts: 588
Own Kudos:
17
Posts: 588
Kudos: 17
What's your monthly budget for everything? 02 Apr 2008, 11:41
Kudos
Add Kudos
Bookmarks
Bookmark this Post
kryzak

TSX's are 50K? I thought they were the smaller Acuras, right?
Show more

No, they're about 30. But I was originally looking at 15k cars, so I would have had around 50k total (instead of 35ish), not 50k more.
User avatar
kryzak
User avatar
Major Poster
Joined: 04 Jun 2007
Last visit: 10 Aug 2013
Posts: 5,452
Own Kudos:
751
Given Kudos: 14
Status:Um... what do you want to know?
Location: SF, CA, USA
Concentration: Technology, Entrepreneurship, Digital Media & Entertainment
Schools:UC Berkeley Haas School of Business MBA 2010
GPA: 3.9 - undergrad 3.6 - grad-EE
WE 1: Social Gaming
Posts: 5,452
Kudos: 751
What's your monthly budget for everything? 02 Apr 2008, 12:02
Kudos
Add Kudos
Bookmarks
Bookmark this Post
oh i see! yeah, I'm tempted to get the new Audi A4 coming out the end of this year... it's making me drool, but I'll be adding about $10K to my current payments... so not a good idea.
User avatar
bherronp
User avatar
Current Student
Joined: 24 Apr 2007
Last visit: 30 Mar 2010
Posts: 588
Own Kudos:
17
Posts: 588
Kudos: 17
What's your monthly budget for everything? 02 Apr 2008, 12:38
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I really like the A6's. An A6 with the 4.2 V8 may be my after graduation car.

Ok, who am I kidding, I will be buying my wife whatever small luxury SUV she wants, and I will be taking over the TSX.
avatar
GMAT4Lyfe
avatar
Joined: 14 Sep 2007
Last visit: 28 Feb 2009
Posts: 36
Own Kudos:
5
Posts: 36
Kudos: 5
What's your monthly budget for everything? 02 Apr 2008, 12:57
Kudos
Add Kudos
Bookmarks
Bookmark this Post
how bad is it going into b-school with $0...pretty much all loans....

is that common...

what will 30k, 40k, 50k do? in terms of say 120k cost of MBA (living and tuition)...other than knocking off a few years in monthly student loans, is there any advantage to go into bschool with a large savings..


reason im asking is, ive been saving to buy a condo...this was my plan pre MBA mode, now that I want the MBA im a bit confused on where to put that money...
User avatar
kryzak
User avatar
Major Poster
Joined: 04 Jun 2007
Last visit: 10 Aug 2013
Posts: 5,452
Own Kudos:
751
Given Kudos: 14
Status:Um... what do you want to know?
Location: SF, CA, USA
Concentration: Technology, Entrepreneurship, Digital Media & Entertainment
Schools:UC Berkeley Haas School of Business MBA 2010
GPA: 3.9 - undergrad 3.6 - grad-EE
WE 1: Social Gaming
Posts: 5,452
Kudos: 751
What's your monthly budget for everything? 02 Apr 2008, 13:24
Kudos
Add Kudos
Bookmarks
Bookmark this Post
A6's are very nice too, but I'm all about smaller cars these days (gas mileage). :P Stop listening to your wife!!! :P I would get whatever I want to get, haha. :lol:

as for loans, a general rule of thum is about $100/month per 10K borrowed over 10 years at around 8-9% interest rate... very rough estimate... so if you have $120K of debt, that means $1200/month at current rates... that's more than some people's rent! :shock:
User avatar
bherronp
User avatar
Current Student
Joined: 24 Apr 2007
Last visit: 30 Mar 2010
Posts: 588
Own Kudos:
17
Posts: 588
Kudos: 17
What's your monthly budget for everything? 02 Apr 2008, 13:37
Kudos
Add Kudos
Bookmarks
Bookmark this Post
kryzak
A6's are very nice too, but I'm all about smaller cars these days (gas mileage). :P Stop listening to your wife!!! :P I would get whatever I want to get, haha. :lol:
Show more

Well she is paying for me to eat during school...
User avatar
kryzak
User avatar
Major Poster
Joined: 04 Jun 2007
Last visit: 10 Aug 2013
Posts: 5,452
Own Kudos:
751
Given Kudos: 14
Status:Um... what do you want to know?
Location: SF, CA, USA
Concentration: Technology, Entrepreneurship, Digital Media & Entertainment
Schools:UC Berkeley Haas School of Business MBA 2010
GPA: 3.9 - undergrad 3.6 - grad-EE
WE 1: Social Gaming
Posts: 5,452
Kudos: 751
What's your monthly budget for everything? 02 Apr 2008, 14:26
Kudos
Add Kudos
Bookmarks
Bookmark this Post
ahh, in that case, then do as she tells you! :P
User avatar
89nk
User avatar
Joined: 05 Feb 2008
Last visit: 16 Dec 2012
Posts: 321
Own Kudos:
59
Given Kudos: 10
Location: Texas
Posts: 321
Kudos: 59
What's your monthly budget for everything? 02 Apr 2008, 14:40
Kudos
Add Kudos
Bookmarks
Bookmark this Post
GMAT4Lyfe
how bad is it going into b-school with $0...pretty much all loans....

is that common...

what will 30k, 40k, 50k do? in terms of say 120k cost of MBA (living and tuition)...other than knocking off a few years in monthly student loans, is there any advantage to go into bschool with a large savings..


reason im asking is, ive been saving to buy a condo...this was my plan pre MBA mode, now that I want the MBA im a bit confused on where to put that money...
Show more

This is were I am at as well. I am wondering how much (is necessary) I should save for business school.
But I think for you, if you are planning on going to business school in that area where your condo is located then it wouldn't be as big of a deal since rent in large cities would cost a lot anyway, or if you rent it out then you would have a source of income.

I would do a cost vs benefit chart to see what the better option would be. I also questioned what 30k-50k would do to the overall cost of business school besides put a dent into the overall debt, but I think the reasoning that most people going into business school are wanting the extra cash just in case some emergency came up, plus some entering students have families.

Thanks for your inputs,
   1   2   3