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    My budget as a PhD student in Chicago [OC]
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    My budget as a PhD student in Chicago [OC]

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    33 Comments

    1. Shacolicious2448 on

      * Source: Self
      * Tool: Sankeymatic
      * Location: Greater Chicago Area, IL. USA
      * Currency: USD ($)

      Figured I’d post this because I regularly talk to people that don’t know some PhD programs pay you a reasonable stipend.

    2. Matt_McT on

      Daaaamn, your stipend pays you well enough that you have $22K to put towards retirement and savings? I have been in academia for 10 years now, and I’ve never heard of that happening anywhere ever.

    4. Embarrassed_Word8025 on

      Can’t speak with certainty without knowing your age and field of study, but generally I’m pretty strongly opposed to saving money while still in school. Presumably your salary upon entering the workforce will be several times what it is currently and that is when you should start saving. Living an impoverished lifestyle just to save $20,000/yr simply isn’t worth it. You gotta enjoy life too. Especially while you’re still young.

    5. rxdlhfx on

      I’m looking at groceries + eating out… that’s $12 per day. This is virtually impossible to live on in my country of Romania where prices are MUCH lower. So either someone is feeding you or this is fake. The idea that someone is eating on less than $12 per day in the US while putting away $60 is ridiculous.

    6. fruitsingularity on

      Your program offers a retirement vehicle? I only every contributed to my Roth IRA during grad school but I made 10k less than you at best.

    7. cusmrtgrl on

      I made 1400/month as a STEM PhD student in Reno between 2006-2010. I’m so glad students are getting paid more, but I am shocked you are able to save/have a retirement account! (Like, good shocked)

    9. SRV87 on

      It’s admirable that you are saving for retirement but assuming you will get a job that pays well as a result of your PhD, you could easily enjoy some of that money now and make it up later.

      10k seems like a lot now but it won’t when you are 35-40. Even if that money tripled in the next 10 years, it will likely be easier for you to set aside an EXTRA 30k 10yrs from now vs taking this much out of your total income now to save.

    10. Bill_Nihilist on

      It’s so wild that you can spend nominally less on food and rent than I did as a grad student living dirt cheap in Chicago 10 years ago.

    13. Thermodynamicist on

      That’s extremely generous. The idea of having any money for retirement savings during a PhD is frankly mind-boggling to me.

      My experience was defined by the hunt for events offering free food.

    15. End3rWi99in on

      The costs on a lot of this stuff suggest there’s other assistance going on, but good for you either way.

    16. wanderingtoolong2 on

      I did my doctorate in the 70s and Icould barely make ends meet, even with NSF, Pell Grant, working as a TA. This is amazing! My big treat going out to eat once a week was Taco Bell. There was nothing left over to save.

    17. Thelovebel0w on

      If I had the willpower to only eat out 700$ a year I’d be filthy rich. Bravo great discipline

    21. scubasue on

      Need more details on the retirement. Is it a plan you own like a 401k, or does it require you to stay with them for X years?

      University of California’s pension system looks great on paper, but it only starts to pay if you stay for at least 7 years. Leave before that and you get squat.

    22. Rmdcltch on

      You are saving more than half your income as a student. That is seriously amazing. Well done.

      Have a beer once in a while, though.

    23. Ship_Ship_8 on

      Nice work man. You’re killing it. $450 a month for a phone? Do you have like 5 iPhones or what??

    25. Mackntish on

      Not to play a game of one-upsman ship. But I once lived off $26,000 for three years.

      That’s not $26k per year…fuck Americorps.

    26. Whiskersnfloof on

      wait a minute…. you are a PHD student, and you have retirement?

      I feel like a boomer for saying my stipend didn’t creep above 13K in 2008, but I also remember rent being too damn high then too.

    29. DigitalPsych on

      Fun activities are only $16 per week, and $85 on food. That is very frugal. Good on you for having the will power to do that and track all of your expenses.

    31. Crotean on

      Im just weeping, you are living in chicago and only paying 11k a year for rent? Christ Charlotte has gotten stupid for rent.