recession & phd salary don’t mix well…
Context: US-based 5-year phd in social sciences/humanities, I’m going into my third year this fall; living in HCOL area
does anyone have budgeting tips or advice for someone looking to maintain a sufficient emergency/savings fund while also not completely running myself ragged?
my first year i had my contracted work through the university and an outside part time job that i would get roughly 48-50 hours every paycheck (biweekly) but ended up leaving due to scheduling and sustainability. since then i’ve solely relied on my income from school and savings, but i don’t want to rely too heavily on savings.
checks are biweekly second and last week of the month. after taxes and such my take home is roughly 3k a month, which basically just covers rent. (i know this is not the best financial option but due to multiple circumstances it’s the safest option for me to live alone)
aside from rent i also have the usual utilities, phone, internet, car insurance (car is paid off), groceries and goods (think toilet paper, etc). i’ve been trying to get into more budget meal planning but i still find myself worrying about stretching my money. i virtually never eat out or go out for drinks, don’t really eat a lot of meat mostly vegetables, grains, fish. are there other areas i can cut back on without compromising my quality of life/phd experience?
any realistic advice or feedback is welcome! i can also provide a rough budget breakdown if needed for more info.
thanks :)