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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...

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

Gotta love living off of loans

jlnoa0915 wrote:Gotta love living off of loans

+1

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

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.

Loans and living off wifes salary

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

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Paid off student loans...

only saved about 8k for school

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

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

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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..

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

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.

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

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.

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.

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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.

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.

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.

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?

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 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.

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.