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Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
sch6les
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Postby sch6les » Mon Feb 28, 2011 8:14 pm

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Last edited by sch6les on Tue May 01, 2012 6:00 pm, edited 2 times in total.

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bk1
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Re: How much did you have saved ($$) when you graduated UG?

Postby bk1 » Mon Feb 28, 2011 8:15 pm

Someone/something must be covering your tuition.

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aspire2more
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Re: How much did you have saved ($$) when you graduated UG?

Postby aspire2more » Mon Feb 28, 2011 8:18 pm

$30K? Wow. I worked in UG my last year and had a full-ride to my school. I saved about $800.

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Neidermeyer519
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Re: How much did you have saved ($$) when you graduated UG?

Postby Neidermeyer519 » Tue Mar 01, 2011 10:53 am

$4.13...which didn't even fill me up at McDonalds.

Truth is, its hard to save while in UG. While I don't advocate going out and blowing every penny that you can, you should at least try to spend a little money and enjoy yourself. You're going to go to law school, and with no UG debt, you should be just fine. Live a little now, because if you don't, chances are you will regret it.

I'm 27, and I'll be going to law school with about 10K in savings, but I made that after UG.

bdubs
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Re: How much did you have saved ($$) when you graduated UG?

Postby bdubs » Tue Mar 01, 2011 10:57 am

sch6les wrote:I'm currently 2nd year, and will graduate UG with no debt.

I haven't really started saving yet, but I've calculated I can save quite a bit (~30k) by graduation if I work part-time during the school year and full-time over the summer.

My question: did you guys save a lot by the end of UG? Obviously this doesn't apply if you had UG debt.


For law school financing purposes it is better to own things that do not noticeably depreciate than it is to have lots of cash saved.

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Perch
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Re: How much did you have saved ($$) when you graduated UG?

Postby Perch » Tue Mar 01, 2011 11:16 am

bdubs wrote:
sch6les wrote:I'm currently 2nd year, and will graduate UG with no debt.

I haven't really started saving yet, but I've calculated I can save quite a bit (~30k) by graduation if I work part-time during the school year and full-time over the summer.

My question: did you guys save a lot by the end of UG? Obviously this doesn't apply if you had UG debt.


For law school financing purposes it is better to own things that do not noticeably depreciate than it is to have lots of cash saved.


ipads!

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rman1201
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Re: How much did you have saved ($$) when you graduated UG?

Postby rman1201 » Tue Mar 01, 2011 11:17 am

sch6les wrote:I'm currently 2nd year, and will graduate UG with no debt.

I haven't really started saving yet, but I've calculated I can save quite a bit (~30k) by graduation if I work part-time during the school year and full-time over the summer.

My question: did you guys save a lot by the end of UG? Obviously this doesn't apply if you had UG debt.


I'm interested in learning what part-time job you can do during UG that will net you 30k :shock:

As for the question: -$13k.

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TommyK
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Re: How much did you have saved ($$) when you graduated UG?

Postby TommyK » Tue Mar 01, 2011 11:20 am

Oh, it's Canadian money... I thought you were talking about $30k in real money.

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Neidermeyer519
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Re: How much did you have saved ($$) when you graduated UG?

Postby Neidermeyer519 » Tue Mar 01, 2011 11:20 am

rman1201 wrote:
sch6les wrote:I'm currently 2nd year, and will graduate UG with no debt.

I haven't really started saving yet, but I've calculated I can save quite a bit (~30k) by graduation if I work part-time during the school year and full-time over the summer.

My question: did you guys save a lot by the end of UG? Obviously this doesn't apply if you had UG debt.


I'm interested in learning what part-time job you can do during UG that will net you 30k :shock:


....nothing that mommy or daddy would be proud of ;)

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rman1201
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Re: How much did you have saved ($$) when you graduated UG?

Postby rman1201 » Tue Mar 01, 2011 11:28 am

TommyK wrote:Oh, it's Canadian money... I thought you were talking about $30k in real money.


Ohh just noticed that. That's what, 50 bucks US?

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albusdumbledore
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Re: How much did you have saved ($$) when you graduated UG?

Postby albusdumbledore » Tue Mar 01, 2011 11:33 am

rman1201 wrote:
TommyK wrote:Oh, it's Canadian money... I thought you were talking about $30k in real money.


Ohh just noticed that. That's what, 50 bucks US?


Actually for all you jokers, the Canadian dollar is stronger than the US Dollar at the moment.

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TommyK
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Re: How much did you have saved ($$) when you graduated UG?

Postby TommyK » Tue Mar 01, 2011 11:47 am

albusdumbledore wrote:
rman1201 wrote:
TommyK wrote:Oh, it's Canadian money... I thought you were talking about $30k in real money.


Ohh just noticed that. That's what, 50 bucks US?


Actually for all you jokers, the Canadian dollar is stronger than the US Dollar at the moment.


Yeah, but you have to buy canadian things with it.

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rman1201
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Re: How much did you have saved ($$) when you graduated UG?

Postby rman1201 » Tue Mar 01, 2011 11:52 am

Image
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hokie
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Re: How much did you have saved ($$) when you graduated UG?

Postby hokie » Tue Mar 01, 2011 12:40 pm

lol this thread went from slightly intriguing to awesome

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afc1910
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Re: How much did you have saved ($$) when you graduated UG?

Postby afc1910 » Tue Mar 01, 2011 1:46 pm

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Last edited by afc1910 on Wed Apr 13, 2011 12:43 pm, edited 1 time in total.

sch6les
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Postby sch6les » Tue Mar 01, 2011 4:42 pm

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Last edited by sch6les on Tue May 01, 2012 6:01 pm, edited 2 times in total.

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bostonlawchick
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Re: How much did you have saved ($$) when you graduated UG?

Postby bostonlawchick » Tue Mar 01, 2011 4:50 pm

Why don't you have to pay taxes?

Also, not to be a Debbie Downer, but jobs waiting tables at restaurants where you'd make 20-25 an hour are pretty hard to come by without experience and the most lucrative shifts don't go to new hires... At least where I'm from anyway. But hey I'm sure if you're frugal you could save a nice chunk of change.


Edited for quotefail and bad reading comprehension
Last edited by bostonlawchick on Tue Mar 01, 2011 5:26 pm, edited 1 time in total.

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bport hopeful
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Re: How much did you have saved ($$) when you graduated UG?

Postby bport hopeful » Tue Mar 01, 2011 4:52 pm

2 questions.

How do you have 0 expenses?

Do you sell drugs?

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cinephile
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Re: How much did you have saved ($$) when you graduated UG?

Postby cinephile » Tue Mar 01, 2011 4:54 pm

Can't think of anyone I know who managed to save during undergrad. Either your parents paid for everything, so you didn't work. Or if you did work, it went towards covering your expenses with not much left over.

sch6les
Posts: 53
Joined: Fri Jun 05, 2009 5:19 pm

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Postby sch6les » Tue Mar 01, 2011 4:56 pm

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Last edited by sch6les on Tue May 01, 2012 6:01 pm, edited 2 times in total.

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bport hopeful
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Re: How much did you have saved ($$) when you graduated UG?

Postby bport hopeful » Tue Mar 01, 2011 4:58 pm

X = Value of alcohol intake
Y = Income

X>Y

800 dollars if I live smart this summer.

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mez06
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Re: How much did you have saved ($$) when you graduated UG?

Postby mez06 » Tue Mar 01, 2011 5:00 pm

I had a $1000 saved leaving UG. RA for a couple yrs.

Now two years out of undergrad, I have 35k saved. Which I don't plan on putting towards the cost of the JD.

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KibblesAndVick
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Re: How much did you have saved ($$) when you graduated UG?

Postby KibblesAndVick » Tue Mar 01, 2011 5:03 pm

cinephile wrote:Can't think of anyone I know who managed to save during undergrad. Either your parents paid for everything, so you didn't work. Or if you did work, it went towards covering your expenses with not much left over.


This.

Also, the idea of building savings during UG with $10/hr and $12/hr jobs is a bit silly. Going to college is in investment in yourself and your potential future earnings. Build savings when you have a real job and real income. If you don't have any expenses (daddy gave you a credit card, you're awesome and got a full ride with stipends, etc.) enjoy the four years as best you can. Get involved with clubs and organizations, get a cool summer internship to help your resume, get drunk and party. Not only will you be able to save more money when you have a real job, you won't have to sacrifice as much in order to do it.

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bport hopeful
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Re: How much did you have saved ($$) when you graduated UG?

Postby bport hopeful » Tue Mar 01, 2011 5:05 pm

KibblesAndVick wrote:


Also, the idea of building savings during UG with $10/hr and $12/hr jobs is a bit silly. Going to college is in investment in yourself and your potential future earnings. Build savings when you have a real job and real income. If you don't have any expenses (daddy gave you a credit card, you're awesome and got a full ride with stipends, etc.) enjoy the four years as best you can. Get involved with clubs and organizations, get a cool summer internship to help your resume, get drunk and party.Not only will you be able to save more money when you have a real job, you won't have to sacrifice as much in order to do it.

ZMorg44
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Re: How much did you have saved ($$) when you graduated UG?

Postby ZMorg44 » Tue Mar 01, 2011 5:38 pm

sch6les wrote:Lol @ above.

During the school year: 15 hours/week * $12/hour * 52 weeks = $9360
During the summer: 40 hours/week * $10/hour * 16 weeks = $6400

Assuming I start saving September 1, 2011, 9360 + 9360 + 6400 + 6400 = 31520 the end of the summer after graduation.

Yes, obviously this is very simplistic. I will not be able to save 100% of everything I make (I'm not paying any tax though), I'm not taking into account missed days, etc. However, these figures also don't take into account that I already have 4k saved and the rest of this semester's earning to go, nor the fact that I can probably get jobs paying higher than $12 or $10 (if I get a waiter job I can reasonably make 20-25/hour due to tips). I figure this cancels out any loss of earnings I didn't take into account in my original calculation.

So as you can see, the 30k figure can be easily ballparked.




Are you going to be working both jobs during the summer? Or should you be discounting 16 weeks from the 52 weeks that you are crediting yourself for working your school year job? Over two years it would make a dent if you won't be working 2 jobs during the summer.




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