Budgeting for Law School

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togepi
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Budgeting for Law School

Postby togepi » Sun Jul 08, 2012 6:08 am

Right now I'm teaching English in South Korea, doing my best to save money before I hopefully start law school next year. I had a few questions including how much textbooks usually run for a year and any additional costs for supplements and things like that.

My parents will do a lot in helping me with cost of living and also the money that I'll have saved up (hopefully around 20k) but I wasn't sure how far that will get me through my first year with move in costs (I literally have nothing other than clothes right now) and law school costs outside of tuition.

If anyone can give me an estimate on these things I would greatly appreciate it!

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dingbat
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Re: Budgeting for Law School

Postby dingbat » Sun Jul 08, 2012 8:16 am

It depends on the school - studying in NYC is much more expensive than, say, iowa.
At the most basic level, in addition to tuition and fess, you will need a good computer ($500-$1000), a roof over your head, food over your plate and books ($2000?)
Check out your school's official cost of attendance figures. If these are not yet publicly posted, email the school.

The estimates are reasonable. It is possible to spend less, if you're frugal

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togepi
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Re: Budgeting for Law School

Postby togepi » Mon Jul 09, 2012 2:30 am

dingbat wrote:It depends on the school - studying in NYC is much more expensive than, say, iowa.
At the most basic level, in addition to tuition and fess, you will need a good computer ($500-$1000), a roof over your head, food over your plate and books ($2000?)
Check out your school's official cost of attendance figures. If these are not yet publicly posted, email the school.

The estimates are reasonable. It is possible to spend less, if you're frugal


Thanks for the info. I haven't received my LSAT score yet so I haven't really done any thorough research on specific school. I was just looking for a general range students spend on books their first year. Does $1000 sound reasonable for books the first year?

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bk1
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Re: Budgeting for Law School

Postby bk1 » Mon Jul 09, 2012 2:33 am

togepi wrote:Thanks for the info. I haven't received my LSAT score yet so I haven't really done any thorough research on specific school. I was just looking for a general range students spend on books their first year. Does $1000 sound reasonable for books the first year?


Schools have estimated cost of attendances (with a breakdown for CoL) on their websites.

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togepi
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Re: Budgeting for Law School

Postby togepi » Mon Jul 09, 2012 2:45 am

bk1 wrote:
togepi wrote:Thanks for the info. I haven't received my LSAT score yet so I haven't really done any thorough research on specific school. I was just looking for a general range students spend on books their first year. Does $1000 sound reasonable for books the first year?


Schools have estimated cost of attendances (with a breakdown for CoL) on their websites.


Thanks, I've heard that they are often a lot lower than actual costs. I'm just hoping to have enough to move in and cover first year costs. Buying a bed, tv, new laptop, furniture, household thing, apartment deposit, etc. is going to add up pretty quickly =/

admisionquestion
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Re: Budgeting for Law School

Postby admisionquestion » Mon Jul 09, 2012 4:22 am

togepi wrote:
bk1 wrote:
togepi wrote:Thanks for the info. I haven't received my LSAT score yet so I haven't really done any thorough research on specific school. I was just looking for a general range students spend on books their first year. Does $1000 sound reasonable for books the first year?


Schools have estimated cost of attendances (with a breakdown for CoL) on their websites.


Thanks, I've heard that they are often a lot lower than actual costs. I'm just hoping to have enough to move in and cover first year costs. Buying a bed, tv, new laptop, furniture, household thing, apartment deposit, etc. is going to add up pretty quickly =/


I'm not sure about NY but the budget for my school seems VERY generous compared to living expense in the city.

My apartment is nice 1br near the school and cost 25 a month less than their budget WHILE living off their budget for a FULL 12 months NOT including summer funding.

Their Boarding/food Budget comes out to 100 a week. Id call that going out to eat three times a week at 12 bucks a shot. and buying 65 dollars of groceries for myself. Again budget for the entire 12 months off their estimates.

The real cash cow in the budget though is insurance. They estimate that my insurance expenses will cost above 250 a month (for 12 months), when my total real insurance bill will be 120 a month. So this leaves 130 a month of wiggle room/ 20 well drinks a month / 7 drinks a week.

Finally they toss in around 3,000 of "other" money. This amounts to 250 a month or 60 a week for whatever needs it.

AND that budget assumes I don't make money over the summer. Which of course, I will.


Buying a bed shouldnt cost more than 300 anywhere. My deposit was 1/2 a month so it wasnt that big of a deal. Get cheap shit for your pad dont buy new use craiglist... A refurbished 8gb i7 can be snagged on bb for less than 700. Dont buy a TV if moneys an issue--Who watches TV?

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cinephile
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Re: Budgeting for Law School

Postby cinephile » Mon Jul 09, 2012 5:05 am

togepi wrote:
bk1 wrote:
Schools have estimated cost of attendances (with a breakdown for CoL) on their websites.


Thanks, I've heard that they are often a lot lower than actual costs. I'm just hoping to have enough to move in and cover first year costs. Buying a bed, tv, new laptop, furniture, household thing, apartment deposit, etc. is going to add up pretty quickly =/


Depends on the school. My school budgeted far less than it actually takes to pay rent (unless you're putting 4 people in a 2br). I needed 4 months rent upfront (first, last, security deposit, realtor fee), plus about 2k for furniture and linens, plus travel expenses getting me and my things out there. It does adds up quickly.

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togepi
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Re: Budgeting for Law School

Postby togepi » Mon Jul 09, 2012 6:48 am

Yeah, I guess a TV really isn't necessary. I could just buy a large monitor and hook up my ps3 to that when I have time to play video games or watch movies.

I plan on cooking a good bit, but I know around finals week and when any large assignments are due I will just be a fast food machine.

I'm just hoping I don't burn through my 20k I'll have saved up by then my first year (on top of my parents covering rent and some money for groceries/alcohol/gas)

I'll literally just have whatever I can fit in my car when I go.

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dingbat
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Re: Budgeting for Law School

Postby dingbat » Mon Jul 09, 2012 8:11 am

togepi wrote:Yeah, I guess a TV really isn't necessary. I could just buy a large monitor and hook up my ps3 to that when I have time to play video games or watch movies.

I plan on cooking a good bit, but I know around finals week and when any large assignments are due I will just be a fast food machine.

I'm just hoping I don't burn through my 20k I'll have saved up by then my first year (on top of my parents covering rent and some money for groceries/alcohol/gas)

I'll literally just have whatever I can fit in my car when I go.

If your parents are covering rent and tuition is not included, there's no reason you can't make the $20k last at least throughout your first two years, if not all three

admisionquestion
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Re: Budgeting for Law School

Postby admisionquestion » Mon Jul 09, 2012 11:27 am

cinephile wrote:
togepi wrote:
bk1 wrote:
Schools have estimated cost of attendances (with a breakdown for CoL) on their websites.


Thanks, I've heard that they are often a lot lower than actual costs. I'm just hoping to have enough to move in and cover first year costs. Buying a bed, tv, new laptop, furniture, household thing, apartment deposit, etc. is going to add up pretty quickly =/


Depends on the school. My school budgeted far less than it actually takes to pay rent (unless you're putting 4 people in a 2br). I needed 4 months rent upfront (first, last, security deposit, realtor fee), plus about 2k for furniture and linens, plus travel expenses getting me and my things out there. It does adds up quickly.


No you did not NEED that. Plenty of Bronx 1 studios don't have Realtor fees. https://maps.google.com/maps?q=google+m ... authuser=0

No you did not NEED 2k of furniture. There is an Ikea in Brooklyn.

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JamMasterJ
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Re: Budgeting for Law School

Postby JamMasterJ » Mon Jul 09, 2012 11:37 am

admisionquestion wrote:
cinephile wrote:
togepi wrote:
bk1 wrote:
Schools have estimated cost of attendances (with a breakdown for CoL) on their websites.


Thanks, I've heard that they are often a lot lower than actual costs. I'm just hoping to have enough to move in and cover first year costs. Buying a bed, tv, new laptop, furniture, household thing, apartment deposit, etc. is going to add up pretty quickly =/


Depends on the school. My school budgeted far less than it actually takes to pay rent (unless you're putting 4 people in a 2br). I needed 4 months rent upfront (first, last, security deposit, realtor fee), plus about 2k for furniture and linens, plus travel expenses getting me and my things out there. It does adds up quickly.


No you did not NEED that. Plenty of Bronx 1 studios don't have Realtor fees. https://maps.google.com/maps?q=google+m ... authuser=0

No you did not NEED 2k of furniture. There is an Ikea in Brooklyn.

lol at driving from the bronx to NYU

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cinephile
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Re: Budgeting for Law School

Postby cinephile » Mon Jul 09, 2012 11:38 am

admisionquestion wrote:
cinephile wrote:Depends on the school. My school budgeted far less than it actually takes to pay rent (unless you're putting 4 people in a 2br). I needed 4 months rent upfront (first, last, security deposit, realtor fee), plus about 2k for furniture and linens, plus travel expenses getting me and my things out there. It does adds up quickly.


No you did not NEED that. Plenty of Bronx 1 studios don't have Realtor fees. https://maps.google.com/maps?q=google+m ... authuser=0

No you did not NEED 2k of furniture. There is an Ikea in Brooklyn.


Thanks for playing, but I don't go to school in New York.

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togepi
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Re: Budgeting for Law School

Postby togepi » Mon Jul 09, 2012 11:42 am

I hope there's an IKEA somewhat close to where I end up going to lawl school, that would definitely keep things low.

I'm mainly worried about the bed. I'm not really sure if I should fork over 1500 or so for a really nice bed or around 500 for something just to last through law school. I'm sure I'll end up going for the latter and maybe buy a nice comforter.

It sucks not really owning anything though. I'll literally have to buy pots, pans, flatware, etc. and that shit adds up quick.

Curious1
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Re: Budgeting for Law School

Postby Curious1 » Mon Jul 09, 2012 11:48 am

togepi wrote:I hope there's an IKEA somewhat close to where I end up going to lawl school, that would definitely keep things low.

I'm mainly worried about the bed. I'm not really sure if I should fork over 1500 or so for a really nice bed or around 500 for something just to last through law school. I'm sure I'll end up going for the latter and maybe buy a nice comforter.

It sucks not really owning anything though. I'll literally have to buy pots, pans, flatware, etc. and that shit adds up quick.


Or get a cheapish bed from ikea and get a nice mattress topper. Works really well.

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Re: Budgeting for Law School

Postby admisionquestion » Mon Jul 09, 2012 12:01 pm

cinephile wrote:
admisionquestion wrote:
cinephile wrote:Depends on the school. My school budgeted far less than it actually takes to pay rent (unless you're putting 4 people in a 2br). I needed 4 months rent upfront (first, last, security deposit, realtor fee), plus about 2k for furniture and linens, plus travel expenses getting me and my things out there. It does adds up quickly.


No you did not NEED that. Plenty of Bronx 1 studios don't have Realtor fees. https://maps.google.com/maps?q=google+m ... authuser=0

No you did not NEED 2k of furniture. There is an Ikea in Brooklyn.


Thanks for playing, but I don't go to school in New York.


I might just be ignorant, but I cant think of any other t14 that is in a city in which a Realtor fee could be considered NEEDED.

I dont know shit about UCLA or Palo Alto or B.

Let see,
H--Lots of cheap housing--realtor fees are not the norm. Also Ikea is about 15 minutes south of the city.
Y-- Its New Haven. (ikea right in town)
S-- Like I said idk
C-- Covered NY
C-- Lots of cheap housing around Uchi.
N-- Coverd NY
B-- Like I said idk
M-- You kidding right?
V-- You have to be joking
P-- Umm its in the hood. You dont need Rittenhouse. Ikea right in south philly.
D-- You kidding right?
NU- No reason you couldn't grab something like this --LinkRemoved-- and jump the brown.
G-- I don't know a ton about DC, but I can't imagine its hard to find cheap housing...its not that expensive of a city.http://www.areavibes.com/washington-dc/cost-of-living/
C-- I dont know much about it but again not that expensive http://www.areavibes.com/ithaca-ny/cost-of-living/

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togepi
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Re: Budgeting for Law School

Postby togepi » Mon Jul 09, 2012 12:47 pm

Curious1 wrote:
togepi wrote:I hope there's an IKEA somewhat close to where I end up going to lawl school, that would definitely keep things low.

I'm mainly worried about the bed. I'm not really sure if I should fork over 1500 or so for a really nice bed or around 500 for something just to last through law school. I'm sure I'll end up going for the latter and maybe buy a nice comforter.

It sucks not really owning anything though. I'll literally have to buy pots, pans, flatware, etc. and that shit adds up quick.


Or get a cheapish bed from ikea and get a nice mattress topper. Works really well.


Yeah, right now I'm teaching English in South Korea and they gave me a prison cot to sleep in. I spent about 300 on a goose down comforter and a nice pillow. Been sleeping like a baby ever since. Thanks for the tip, I'll definitely check that out. I'll want a queen size for those optimistic moments :)

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SaintsTheMetal
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Re: Budgeting for Law School

Postby SaintsTheMetal » Mon Jul 09, 2012 11:27 pm

cinephile wrote:...plus about 2k for furniture and linens


dafuk??? :shock:

i struggle to imagine how some of the 1% on this site spends $2,000 furnishing a 1 or 2 room apartment

buy a mattress, throw it on the floor. buy a couch on craigslist. buy a desk/table on craigslist. if you have a tv, buy a couple cinderblocks and a piece of wood. walmart sells lamps for like $6. ditto on the shit for your bed.
Boom, out the door for about $700, assuming a pretty nice $4-500 bed

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togepi
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Re: Budgeting for Law School

Postby togepi » Tue Jul 10, 2012 1:37 am

Assuming you don't transfer, it is three years of your life. You might as well live somewhat comfortably the whole time if you can afford it.

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cinephile
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Re: Budgeting for Law School

Postby cinephile » Tue Jul 10, 2012 3:56 am

SaintsTheMetal wrote:
cinephile wrote:...plus about 2k for furniture and linens


dafuk??? :shock:

i struggle to imagine how some of the 1% on this site spends $2,000 furnishing a 1 or 2 room apartment

buy a mattress, throw it on the floor. buy a couch on craigslist. buy a desk/table on craigslist. if you have a tv, buy a couple cinderblocks and a piece of wood. walmart sells lamps for like $6. ditto on the shit for your bed.
Boom, out the door for about $700, assuming a pretty nice $4-500 bed


Some of us aren't that young and can't sleep on a mattress on the floor. And I'm not risking bedbugs by buying something off craigslist. 2k for furnishings (bed frame, mattress, rugs, desk, desk chair, curtains, book shelf, dresser, mirror, kitchen table and chairs, couch, coffee table) kitchen supplies (dishes, pots and pans, flatware, appliances), bedding, towels, bathroom shelving, and all that really isn't a lot. I actually did get all my things at Ikea, which is how I managed to keep costs down. You could live in an empty room with a mattress on the floor, but there's no need to be miserable for three years.

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togepi
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Re: Budgeting for Law School

Postby togepi » Tue Jul 10, 2012 5:07 am

Were you able to get all those things at IKEA for 2k? That's a pretty good deal and wouldn't mind throwing down 2k for all of that. My budget will be about 5k on movie in stuff.

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cinephile
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Re: Budgeting for Law School

Postby cinephile » Tue Jul 10, 2012 5:35 am

togepi wrote:Were you able to get all those things at IKEA for 2k? That's a pretty good deal and wouldn't mind throwing down 2k for all of that. My budget will be about 5k on movie in stuff.


If you plan it right and don't end up getting extra little things when you end up in the store. Spend some time on the website and see if you can get everything you want within your budget.

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togepi
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Re: Budgeting for Law School

Postby togepi » Tue Jul 10, 2012 8:52 am

cinephile wrote:
togepi wrote:Were you able to get all those things at IKEA for 2k? That's a pretty good deal and wouldn't mind throwing down 2k for all of that. My budget will be about 5k on movie in stuff.


If you plan it right and don't end up getting extra little things when you end up in the store. Spend some time on the website and see if you can get everything you want within your budget.


Thanks, hopefully there will be one within delivery distance or driving distance. I've only been to IKEA maybe twice in my life (I'm from Auburn, Alabama) and I loved it.

Curious1
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Re: Budgeting for Law School

Postby Curious1 » Tue Jul 10, 2012 8:57 am

SaintsTheMetal wrote:
cinephile wrote:...plus about 2k for furniture and linens


dafuk??? :shock:

i struggle to imagine how some of the 1% on this site spends $2,000 furnishing a 1 or 2 room apartment

buy a mattress, throw it on the floor. buy a couch on craigslist. buy a desk/table on craigslist. if you have a tv, buy a couple cinderblocks and a piece of wood. walmart sells lamps for like $6. ditto on the shit for your bed.
Boom, out the door for about $700, assuming a pretty nice $4-500 bed


This is exactly how I want to spend 3 years of my life.

dixon02
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Re: Budgeting for Law School

Postby dixon02 » Tue Jul 10, 2012 9:08 am

admisionquestion wrote:
G-- I don't know a ton about DC, but I can't imagine its hard to find cheap housing...its not that expensive of a city.http://www.areavibes.com/washington-dc/cost-of-living/


Uhh...what? Did you even look at the link you included? Housing index- 251. Google "highest cost of living us cities" and you won't find a top 10 list that doesn't include DC. As for the others- San Fran is also on every one of those lists. Berkeley is a little cheaper than San Fran itself, but not cheap. Palo Alto's very expensive and probably on par with San Fran.

admisionquestion
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Re: Budgeting for Law School

Postby admisionquestion » Tue Jul 10, 2012 11:13 am

cinephile wrote:
SaintsTheMetal wrote:
cinephile wrote:...plus about 2k for furniture and linens


dafuk??? :shock:

i struggle to imagine how some of the 1% on this site spends $2,000 furnishing a 1 or 2 room apartment

buy a mattress, throw it on the floor. buy a couch on craigslist. buy a desk/table on craigslist. if you have a tv, buy a couple cinderblocks and a piece of wood. walmart sells lamps for like $6. ditto on the shit for your bed.
Boom, out the door for about $700, assuming a pretty nice $4-500 bed


Some of us aren't that young and can't sleep on a mattress on the floor. And I'm not risking bedbugs by buying something off craigslist. 2k for furnishings (bed frame, mattress, rugs, desk, desk chair, curtains, book shelf, dresser, mirror, kitchen table and chairs, couch, coffee table) kitchen supplies (dishes, pots and pans, flatware, appliances), bedding, towels, bathroom shelving, and all that really isn't a lot. I actually did get all my things at Ikea, which is how I managed to keep costs down. You could live in an empty room with a mattress on the floor, but there's no need to be miserable for three years.



Curious1 wrote:
SaintsTheMetal wrote:
cinephile wrote:...plus about 2k for furniture and linens


dafuk??? :shock:

i struggle to imagine how some of the 1% on this site spends $2,000 furnishing a 1 or 2 room apartment

buy a mattress, throw it on the floor. buy a couch on craigslist. buy a desk/table on craigslist. if you have a tv, buy a couple cinderblocks and a piece of wood. walmart sells lamps for like $6. ditto on the shit for your bed.
Boom, out the door for about $700, assuming a pretty nice $4-500 bed


This is exactly how I want to spend 3 years of my life.



I was DEFINITELY not criticizing anyone for choosing to spend their money any particular way. I was criticizing people for saying they NEED to buy certain expensive things.


I'm not that young i "CANT" blah blah blah.

No, You DONT WANT to. Which is perfectly reasonable and fine.




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