How much do you have saved/plan to save before school?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.

How much do you/will you have saved?

$0
24
11%
$0-$1,000
24
11%
$1,000-5,000
53
25%
$5,000-10,000
36
17%
$10,000-15,000
27
13%
$20,000+
29
14%
$50,000+
14
7%
$100,000+
3
1%
Trust Fund Waiting to be Extinguished
3
1%
 
Total votes: 213

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Gunz353
Posts: 125
Joined: Wed Jul 08, 2009 12:12 am

How much do you have saved/plan to save before school?

Postby Gunz353 » Fri Jan 29, 2010 10:55 am

Just filed my tax return and I am getting back $1200, which is the start of my savings plan until August. Hoping to save about $7000 before school starts. Wondering what other people have planned...

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Gunz353
Posts: 125
Joined: Wed Jul 08, 2009 12:12 am

Re: How much do you have saved/plan to save before school?

Postby Gunz353 » Fri Jan 29, 2010 10:57 am

Nice tar. Well, I guess whatever you have saved and intend on using for law school...

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jlnoa0915
Posts: 428
Joined: Fri Aug 28, 2009 7:25 pm

Re: How much do you have saved/plan to save before school?

Postby jlnoa0915 » Fri Jan 29, 2010 10:59 am

Gotta love living off of loans :evil:

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pleasetryagain
Posts: 762
Joined: Sat Sep 06, 2008 1:04 am

Re: How much do you have saved/plan to save before school?

Postby pleasetryagain » Fri Jan 29, 2010 11:20 am

jlnoa0915 wrote:Gotta love living off of loans :evil:


+1

My credit cards will probably have a few bucks on them if you consider that "saving."

AsylumPB
Posts: 113
Joined: Tue Jan 26, 2010 7:30 pm

Re: How much do you have saved/plan to save before school?

Postby AsylumPB » Fri Jan 29, 2010 11:33 am

I have a little saved, but planning on using that as an emergency back-up for car repairs, property taxes, etc. I will be living off loans and my wife's income as an RN.

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GATORTIM
Posts: 1214
Joined: Tue Jun 09, 2009 3:51 pm

Re: How much do you have saved/plan to save before school?

Postby GATORTIM » Fri Jan 29, 2010 11:40 am

Loans and living off wifes salary

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irie
Posts: 325
Joined: Sun May 31, 2009 9:50 pm

Re: How much do you have saved/plan to save before school?

Postby irie » Fri Jan 29, 2010 11:45 am

been working for 2 years so ill have a decent amount saved and no undergrad debt carrying over... the tricky part will be transitioning from $30 dinner allowances via seamless web to $3 instant noodles every night :oops: :cry: :oops: :cry:

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pearl_earrings
Posts: 225
Joined: Thu Aug 13, 2009 11:25 pm

Re: How much do you have saved/plan to save before school?

Postby pearl_earrings » Fri Jan 29, 2010 12:00 pm

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Last edited by pearl_earrings on Tue Aug 17, 2010 5:17 pm, edited 1 time in total.

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Anastasia Dee Dualla
Posts: 1165
Joined: Wed Nov 12, 2008 2:03 am

Re: How much do you have saved/plan to save before school?

Postby Anastasia Dee Dualla » Fri Jan 29, 2010 12:07 pm

Paid off student loans...

only saved about 8k for school

narkizopoint
Posts: 200
Joined: Tue Dec 22, 2009 5:33 pm

Re: How much do you have saved/plan to save before school?

Postby narkizopoint » Fri Jan 29, 2010 12:10 pm

$3.00 instant noodles? Damn, them some good noodles.

DukeHopeful
Posts: 175
Joined: Sun Jan 03, 2010 3:14 pm

Re: How much do you have saved/plan to save before school?

Postby DukeHopeful » Fri Jan 29, 2010 12:13 pm

narkizopoint wrote:$3.00 instant noodles? Damn, them some good noodles.


Hahaha THIS. Ramen noodles are $0.17 a pack at Wal-Mart. Shrimp's pretty good :lol:

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joshikousei
Posts: 190
Joined: Sun Nov 02, 2008 5:38 pm

Re: How much do you have saved/plan to save before school?

Postby joshikousei » Fri Jan 29, 2010 12:17 pm

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Last edited by joshikousei on Thu Feb 04, 2010 6:50 am, edited 1 time in total.

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pleasetryagain
Posts: 762
Joined: Sat Sep 06, 2008 1:04 am

Re: How much do you have saved/plan to save before school?

Postby pleasetryagain » Fri Jan 29, 2010 12:20 pm

joshikousei wrote:i'm jealous of the four people who have saved more than $50,000.


Not to cast aspersions, but in my experience "saved" = mom and dad pay for a bunch of shit so I get to "save" paying rent/insurance/etc

or maybe Im just jealous as well..

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KimmyGibbler
Posts: 72
Joined: Thu Aug 13, 2009 1:46 pm

Re: How much do you have saved/plan to save before school?

Postby KimmyGibbler » Fri Jan 29, 2010 12:25 pm

DCD wrote:
joshikousei wrote:i'm jealous of the four people who have saved more than $50,000.


Not to cast aspersions, but in my experience "saved" = mom and dad pay for a bunch of shit so I get to "save" paying rent/insurance/etc

or maybe Im just jealous as well..


Not everyone goes to law school straight from UG. Many people work for a few years and save then

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Dignan
Posts: 1110
Joined: Sun Feb 08, 2009 5:52 pm

Re: How much do you have saved/plan to save before school?

Postby Dignan » Sat Jan 30, 2010 12:34 am

DCD wrote:
joshikousei wrote:i'm jealous of the four people who have saved more than $50,000.


Not to cast aspersions, but in my experience "saved" = mom and dad pay for a bunch of shit so I get to "save" paying rent/insurance/etc

or maybe Im just jealous as well..

I've worked for over 10 years, and I've saved $80K. My mom and dad didn't even pay for my undergrad, let alone my expenses after college. (I paid for my UG through loans and working 30 hours per week while in school). Some of us have savings because we've worked hard for awhile.

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kumba84
Posts: 125
Joined: Thu Oct 08, 2009 1:40 am

Re: How much do you have saved/plan to save before school?

Postby kumba84 » Sat Jan 30, 2010 12:37 am

pearl_earrings wrote:
irie wrote:been working for 2 years so ill have a decent amount saved and no undergrad debt carrying over... the tricky part will be transitioning from $30 dinner allowances via seamless web to $3 instant noodles every night :oops: :cry: :oops: :cry:


No undergrad debt...
But I went and sat down with a financial advisor at my bank yesterday to talk about loans. They don't give student loans as high as I need. Not even close.

And +1 on the grocery situation. The transition from my parents' seemingly bottomless fridge will be an unwelcome change!


You should be able to get enough federal (Stafford + GradPLUS) loans to cover law school.

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bees
Posts: 310
Joined: Tue Oct 20, 2009 11:50 pm

Re: How much do you have saved/plan to save before school?

Postby bees » Sat Jan 30, 2010 12:42 am

I'm hoping to have about 4K, aiming for more like 5K but after purchasing some furniture and everything else I'll only need to buy once I'm assuming it'll be closer to 4K. Meh.

Altoids
Posts: 8
Joined: Sat Jan 30, 2010 1:13 am

Re: How much do you have saved/plan to save before school?

Postby Altoids » Sat Jan 30, 2010 1:16 am

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Last edited by Altoids on Thu May 20, 2010 3:15 pm, edited 1 time in total.

02122015
Posts: 5317
Joined: Sun Oct 18, 2009 4:57 pm

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Postby 02122015 » Sat Jan 30, 2010 1:44 pm

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Last edited by 02122015 on Wed Aug 11, 2010 7:43 pm, edited 1 time in total.

ilovebobbyflay
Posts: 3
Joined: Tue Feb 09, 2010 11:06 pm

Re: How much do you have saved/plan to save before school?

Postby ilovebobbyflay » Wed Feb 10, 2010 1:00 am

Dang i was expecting these huge amounts but i guess everyone is on the same boat for the most part. I'm hoping to have about 10-15 grand saved up. Financial aid pays my UG expenses so no worries there.

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jks289
Posts: 1415
Joined: Sun Nov 01, 2009 9:42 pm

Re: How much do you have saved/plan to save before school?

Postby jks289 » Wed Feb 10, 2010 1:14 am

Husband and I will have zero debt, about 30k in savings, and then loans and his salary during school. That all seems ok on paper but I am worried about what will end up happening with need based assistance and IBR after school. I have a feeling we might end up screwed.

hsprophet
Posts: 161
Joined: Wed Dec 16, 2009 10:42 am

Re: How much do you have saved/plan to save before school?

Postby hsprophet » Wed Feb 10, 2010 10:21 am

We'll have about 90K if we're lucky once we liquidate our real estate. Out of that we will have to buy a house and suppliment my wife's income once she starts working (hopefully not for the first year). We have a baby to feed, too. I'm still going to take out loans for tuition even with the savings to keep the cash to live on and for emergencies while in school.

Once you've lived on your own for many years and have a family, it's hard to live cheaply like in college. We'll be cutting back for sure, but we can't live in a studio apartment, have two cars to insure, health insurance for the family (big $$$), and various child care expenses. At least we will have zero debt going in, except for a mortgage.

Bobalou
Posts: 118
Joined: Wed Dec 16, 2009 11:12 am

Re: How much do you have saved/plan to save before school?

Postby Bobalou » Wed Feb 10, 2010 10:38 am

irie wrote:the tricky part will be transitioning from $30 dinner allowances via seamless web to $3 instant noodles every night


HA! Lemme guess...second year analyst at JP Morgan? Goldman?

HWS08
Posts: 179
Joined: Wed Jul 22, 2009 10:32 am

Re: How much do you have saved/plan to save before school?

Postby HWS08 » Wed Feb 10, 2010 6:01 pm

Altoids wrote:I've been out of undergrad for a little over 1.5 years and have saved about $27k so far. Granted, my parents are covering my UG loans, but I do pay for everything else. Hoping to have $30-35k entering law school.


Wow I must be doing something wrong! I'm 1.5 years out of undergrad as well and only have about $10K in the bank :oops: I have a little in a 401(k) too, but I'm not planning to touch that at all during law school and hopefully not until I retire. I am paying off my student loans though and have like another $25K on those, so I guess I really have negative money. My goal is to have $12K in the bank before starting school.

I agree, it will be really tough transitioning from employment+paycheck to law school+mountain of debt. Not that I live extravagantly now, but I'm at least above Ramen-noodle standard of living.

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SamSeaborn2016
Posts: 412
Joined: Fri Feb 13, 2009 3:07 pm

Re: How much do you have saved/plan to save before school?

Postby SamSeaborn2016 » Wed Feb 10, 2010 6:04 pm

I'll have just under $5k squirreled away just in case and a fair bit more than that if things work out just right. I'm more focused on knocking down consumer debt at the moment.




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