blowing cash reserves before school

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dent2638

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Looking for an opinion or two from current students. I start d-school in August and can't shake the feeling that this is the last 4-5 months of extended free time that I may have in my life.

I am very close to buying a plane ticket to travel in a place I've always wanted to go, knowing very well that this would leave me very little cash in my account once school starts.

Loans will kick in starting in August, and I'll have everything major (rent/car/etc) covered until that time. I am very capable of living on the living expenses budget - just want to know from those who have gone before me..... am I out of my mind?

Are there compelling reasons to sit at home and find a boring temp job in an office rather than have the trip of a lifetime??
 
enjoy the crap out of the time you have. Or you will regret it.
 
There are plenty of good arguments for or against your travel plan, but they're just arguments. At the end of the day, you've got to do what feels right in your life.

If your financial situation from now until August is as stable as it sounds, go for what makes you happy.
 
thanks much for the encouragement, appreciate it, and there is a good chance I'll go!

let me clarify my question a bit - for those of you in dental school, did you find that unforeseen expenses, or reasons to have savings dollars in addition to loans, came up throughout the year(s) at school?

realizing of course that expenses are a very personal thing, and how one handles them is different for each scenario.... in general, would you advise somebody to have $_____ on their own while going into school for this reason or that?
 
dent2638 said:
let me clarify my question a bit - for those of you in dental school, did you find that unforeseen expenses, or reasons to have savings dollars in addition to loans, came up throughout the year(s) at school?
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Emergencies do happen ya know. 😉
 
i thought about cruises, shooting range, and strippers. but those loan interest and rent deposit make me stay home. i say enjoy when you are a dentist and not a student.
 
dent2638 said:
thanks much for the encouragement, appreciate it, and there is a good chance I'll go!

let me clarify my question a bit - for those of you in dental school, did you find that unforeseen expenses, or reasons to have savings dollars in addition to loans, came up throughout the year(s) at school?

realizing of course that expenses are a very personal thing, and how one handles them is different for each scenario.... in general, would you advise somebody to have $_____ on their own while going into school for this reason or that?
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Some schools don't really factor in loupes. Had an expensive car repair while in school.

For every thousand you blow consider: 1k becomes at least 1500 once it paid off 10-25 yrs down the road. Remember, that is post tax. So you may have to earn $2200-3000 (may be more if Obama is still in!) when you get out for every thousand spent. Now, some associates are paid 25-35% of what they produce/collect. I'll stop, but recommend you live like a student now.
 
if you have the financial means, then go enjoy yourself.


but if you're getting student loans, i don't know how you can feel good about spending whatever money you have considering you'll have to pay it all back with interest later on.

seems like a lot of people want to go abroad before dental school but i don't see why people make it seem like it's their last chance in their lives to go travelling.

just enjoy your last bit of freedom with friends and family especially if you're moving away. you'll miss them once you move away. dental school's not that bad. if you really need to relax before, take a smaller trip but i wouldn't go all out if you're taking out loans and going to be on a budget for the next 4 yrs
 
DrReo said:
Some schools don't really factor in loupes. Had an expensive car repair while in school.

For every thousand you blow consider: 1k becomes at least 1500 once it paid off 10-25 yrs down the road. Remember, that is post tax. So you may have to earn $2200-3000 (may be more if Obama is still in!) when you get out for every thousand spent. Now, some associates are paid 25-35% of what they produce/collect. I'll stop, but recommend you live like a student now.
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Here's something else to consider. That 1k that you spend now will provide you with SO much more enjoyment than that 1.5k will 10-25 years from now.
 
I agree. Money is important but time is worth more. You will not have a time as carefree as these months before school for a long time....likely never. Once you graduate you will be working hard and caught up in the demands of life. The few grand you might spend will be well worth it.
 
Take $5000 and blow it on a really good long vacation. You will never have the same freedom or free time for a really long time. Pick the cheapest school and you will more than save over the money spent. I don't really care to work hard so I just shut down my office every two months to hit Cancun, NYC, Montreal, Cali, etc. Most dentists I know are always in debt and forever doing the rat race.
 
UBDent19 said:
I agree. Money is important but time is worth more. You will not have a time as carefree as these months before school for a long time....likely never. Once you graduate you will be working hard and caught up in the demands of life. The few grand you might spend will be well worth it.
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+1👍
 
I would stay home and save the money if I were you. It's no fun traveling as a poor student….can't stay at a 4-5 star hotel, can't have nice dinners, have to get around the city by buses instead of by taxi/limousine, have to constantly think about how much you can spend etc. Keep in mind that toward the end of your 4th year, you have to find (and may have to pay) the patients and hire assistants for your state board exam. What if you decide to specialize and need extra cash to fly for your interviews?

Five months before dental school, I worked 2 jobs and saved enough money to pay the rent for the entire 4 years of dental school…I lived with 4 other roommates and only paid $250 a month. I am glad I did what I did. In my opinion, it is more fun to travel when you do well financially. Even with two young kids, we still travel very regularly. We just have to find a hotel that has babysitting service.
 
charlestweed said:
I would stay home and save the money if I were you. It’s no fun traveling as a poor student….can’t stay at a 4-5 star hotel, can’t have nice dinners, have to get around the city by buses instead of by taxi/limousine, have to constantly think about how much you can spend etc. Keep in mind that toward the end of your 4th year, you have to find (and may have to pay) the patients and hire assistants for your state board exam. What if you decide to specialize and need extra cash to fly for your interviews?

Five months before dental school, I worked 2 jobs and saved enough money to pay the rent for the entire 4 years of dental school…I lived with 4 other roommates and only paid $250 a month. I am glad I did what I did. In my opinion, it is more fun to travel when you do well financially. Even with two young kids, we still travel very regularly. We just have to find a hotel that has babysitting service.
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+1
Traveling poor is not fun. Also, in my experience there is always some unforeseen expense looming on the horizon.
 
It's a good idea if you'll never need that money again, it's a bad idea if you will need that money. Unfortunately no one knows what the future holds...

Weight the costs and think about how much $ you'd need if something catastrophic happened (ex: massive car repair/new car, unforeseen medical expense, wanting to visit an ill family member, etc.) or even being able to have some extra cash to blow through in dental school, and then decide.
 
charlestweed said:
It’s no fun traveling as a poor student….can’t stay at a 4-5 star hotel
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New2Philly said:
+1
Traveling poor is not fun.
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I beg to differ. You can have a lot of fun on the cheap, esp. if you go somewhere with a favorable exchange rate. If you're someone who needs to be pampered while you're traveling then yeah... it's going to be expensive.

To OP:

I'm going tell your the opposite of what's being said here, LOL. I know a lot of people are telling you to save, which is always a safe choice, but from someone who's also in your shoes (taking a 3 month backpacking trip to Asia soon) I gotta ask: how much money is your time worth?

Life is short. Mark Twain said you'll regret the things you didn't do more than the things you did do, so ask yourself, in 5 to 10 years, if you'll regret NOT doing this.

Not to pontificate (and do keep in mind I'm coming from a particular perspective 🙂) but, like you, I also had the option of working all the way until I start school, but I thought about it and the fact is that on this path everyone is on, you'll ALWAYS have to save for something... college --> d-school --> practice / family (?), the longer you go the more financial and professional obligations you'll have, and if all you do is save up for the next step and never enjoy yourself (how realistic will it be to leave your patients for extended periods of time once you start practicing?), before you know it, it'll be the end and what have you done it all for?

I think if you're resilient you can deal with hardships as they come in D-school. Most financial aid offices can allocate you some emergency funding. Yes it would suck if that happens but inching through life safely and never doing what you want just in case something bad happens also makes it really dull, IMO.

So it's a very personal decision as to where to draw the line between the value of financial stability and the value of having the experiences you want, even if there's an element of risk.

My 2 cents, for what it's worth. Good luck with your decision.
 
You can live on $10/day while traveling in Thailand, malaysia, cambodia, laos, and vietnam. Try china while you're at it too. it is fun.
 
SFO-IST said:
You can live on $10/day while traveling in Thailand, malaysia, cambodia, laos, and vietnam. Try china while you're at it too. it is fun.
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Nope this is not true anymore. US dollar has lost a lot of its of its value and things in southeast asia is much more expensive than they were 2 or 3 years ago.

A bowl of pho in vietnam now costs around 4 or 5 bucks. when it used to be a dollar back then.

but itd still be cheaper than going to europe :meanie:
 
tmac001 said:
A bowl of pho in vietnam now costs around 4 or 5 bucks. when it used to be a dollar back then.
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No... no, it does not...

It ranges from 75 cents at the shady street stalls to $2-3 at the REALLY fancy schmancy hotels. No Vietnamese person can afford a $4-5 bowl of pho, that's absurd, and everyone eats it so, I'm pretty sure you're getting your pho at the wrong places.
 
redchesus said:
No... no, it does not...

It ranges from 75 cents at the shady street stalls to $2-3 at the REALLY fancy schmancy hotels. No Vietnamese person can afford a $4-5 bowl of pho, that's absurd, and everyone eats it so, I'm pretty sure you're getting your pho at the wrong places.
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Ever heard of inflation? Corn price double in just a few months. Wheat price doubled in just a few months. Gasoline price double in just a few months. and those bowl of pho is smaller than my Cup-O-Noodle.
 
redchesus said:
No... no, it does not...

It ranges from 75 cents at the shady street stalls to $2-3 at the REALLY fancy schmancy hotels. No Vietnamese person can afford a $4-5 bowl of pho, that's absurd, and everyone eats it so, I'm pretty sure you're getting your pho at the wrong places.
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lol. have u even been to Vietnam? i went last year and i used to be a local there so i'm sure i know what's up over there. If gas price and everything else go up, how would a pho shop survive if they don't raise their own price? surely u can't expect everything to cost the same every year. I can definitely tell you there is no way to survive in Vietnam with 20 dollars a day.
 
tmac001 said:
lol. have u even been to Vietnam? i went last year and i used to be a local there so i'm sure i know what's up over there. If gas price and everything else go up, how would a pho shop survive if they don't raise their own price? surely u can't expect everything to cost the same every year. I can definitely tell you there is no way to survive in Vietnam with 20 dollars a day.
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A bowl of pho will cost almost the same as it does in the states these days. And if they can tell that you're a tourist with money, they'll certainly try to rip you off.
 
tmac001 said:
lol. have u even been to Vietnam? i went last year and i used to be a local there so i'm sure i know what's up over there. If gas price and everything else go up, how would a pho shop survive if they don't raise their own price? surely u can't expect everything to cost the same every year. I can definitely tell you there is no way to survive in Vietnam with 20 dollars a day.
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I've never been to Vietnam, but what you are saying makes absolutely no sense. The GDP per CAPITA, let alone individual, boils down to less than $10 per day according to the CIA world factbook:

https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html

So if the typical Vietnamese family can survive on less than 10 dollars per day, you can be sure that the backpacker tourists can too. The days may not be as good as 5 years ago, but I don't think it's as bad as what you're saying.
 
SFO-IST said:
I've never been to Vietnam, but what you are saying makes absolutely no sense. The GDP per CAPITA, let alone individual, boils down to less than $10 per day according to the CIA world factbook:

https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html

So if the typical Vietnamese family can survive on less than 10 dollars per day, you can be sure that the backpacker tourists can too. The days may not be as good as 5 years ago, but I don't think it's as bad as what you're saying.
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Okay then. if you don't trust me then i can't do anything about that. I'm only tell you what I know based on experience, that I've actually stayed in the country. The thing with Vietnam is the disparity between the rich and the poor. And there is a very large gap. It is not a democracy. There are lots of rich people in Vietnam who buy imported cars by paying full amount cash. And there are lots of poor people struggling to survive, especially the minority in the mountains and small villages. These stats in your website are misleading in so many ways.

If you don't agree with me and really think that you can go to Vietnam and pass by with 20 dollars or less per day, then by all means do it. Just know that it is not all about food. There is transportation involved, housing to live in, services to buy.

Oh btw, a bowl of pho in vietnam is 1/2 of a small bowl of pho here.
 
Vietnam just this week raised their base interest rate from 1% to 12%!!! Why? because their dong is worth as much as dung due to extreme inflation. 12% interest payout is so incredible I can retire like a king just on my savings...but your money is worth much less so it never works out that way.
 
My brother, a poor third year internal medicine resident, is doing volunteer work in Vietnam right now. He thought things are cheap there so he only carried with him $500 in cash. That $500 was gone in less than 3 days😱.
 
tmac001 said:
lol. have u even been to Vietnam? i went last year and i used to be a local there so i'm sure i know what's up over there. If gas price and everything else go up, how would a pho shop survive if they don't raise their own price? surely u can't expect everything to cost the same every year. I can definitely tell you there is no way to survive in Vietnam with 20 dollars a day.
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Uhhh, I from there. My aunt runs a pho shop over there...

Excluding intercity transportation, not being able to do $20 a day in Vietnam is a little absurd. You can get a decent room for $8-10 and each meal shouldn't cost more than $2-3. I think you were getting ripped off or not haggling enough or something (haggling is essentially required), or you're going to resorts which cater to Westerners... with Western price tags.

EDIT: Prices have gone up RECENTLY because of the Middle East, but it certainly was not the case a year ago when you were there.

EDIT 2: But I'm starting to think we travel very differently...

tmac001 said:
Oh btw, a bowl of pho in vietnam is 1/2 of a small bowl of pho here.
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Yes, that would be called "non-American" portions. Did you know a large soda in Europe is only a medium in the States?
 
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Well, when was the last time u were there? or do u just hear things and assume them to be true? ur aunts pho shop sells .75 cent pho? really? ask her and let me know her actual price in dong.

So if the "non-american" portion is 1/2 of the pho size here and it already costs 2-3 dollars then it would be 4-5 dollars for one meal, drinks and everything for someone who is NOT from there. Or are you suggesting that us travelers should never be full after a meal? yay for traveling and actually trying to enjoy things.

Transpo costs a lot. You're traveling in the country aren't u? What, are you just going to stay put and whistle? Taxi costs a lot. Xe Honda costs less but still more than 3-4 dollars a day if you are actually traveling around.

We're arguing about traveling in Vietnam and you're excluding intercity travels? Living might cost 8-10 dollars at small cities but it is more in hcm, da nang, hanoi, etc.

Look at the charlestweed' post above, who has a brother living there, how are you going to refute the fact that you actually need more than $10/day to "travel" in vietnam.

Economy of Vietnam is actually growing. It's not just some small country that stays stagnant and not trying to prosper. It's actually trying to attract tourists and make profits.

Oh, and yes. i do know how to haggle. i did live there for 15 years.

EDIT: stop being ignorant. you can prove the things u said to me by traveling to Vietnam, and only spend 10 dollars or less. Honor system.
 
tmac001 said:
Well, when was the last time u were there? or do u just hear things and assume them to be true? ur aunts pho shop sells .75 cent pho? really? ask her and let me know her actual price in dong.

So if the "non-american" portion is 1/2 of the pho size here and it already costs 2-3 dollars then it would be 4-5 dollars for one meal, drinks and everything for someone who is NOT from there. Or are you suggesting that us travelers should never be full after a meal? yay for traveling and actually trying to enjoy things.

Transpo costs a lot. You're traveling in the country aren't u? What, are you just going to stay put and whistle? Taxi costs a lot. Xe Honda costs less but still more than 3-4 dollars a day if you are actually traveling around.

We're arguing about traveling in Vietnam and you're excluding intercity travels? Living might cost 8-10 dollars at small cities but it is more in hcm, da nang, hanoi, etc.

Look at the charlestweed' post above, who has a brother living there, how are you going to refute the fact that you actually need more than $10/day to "travel" in vietnam.

Economy of Vietnam is actually growing. It's not just some small country that stays stagnant and not trying to prosper. It's actually trying to attract tourists and make profits.

Oh, and yes. i do know how to haggle. i did live there for 15 years.

EDIT: stop being ignorant. you can prove the things u said to me by traveling to Vietnam, and only spend 10 dollars or less. Honor system.
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You guys are crazy. I'm going to fly to Vietnam, buy a cup of Pho, and bring the receipt back just to see how much it is.
 
jay47 said:
You guys are crazy. I'm going to fly to Vietnam, buy a cup of Pho, and bring the receipt back just to see how much it is.
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Good luck on that. If they give you a receipt, you just got ripped off big time. Save your money and go to OC for your recession special $2.99 pho.
 
haha...again thanks for the input - don't know how this turned into a pho throw down, but good to get perspective from the masses.

after some soul-searching (and hearing good arguments from both sides from the SDN gallery), i've decided that I can't afford not to go. financially, it may be unwise, but i'll try to hold back and leave a bit of reserves. it is a trip where I have to spend a good 2-3 months to do it right. Time outweighs money in my book and though free time was an initial factor in looking further into the profession - i can't imagine that i'll ever have the opportunity to spend a block of time like this again.

and for what it is worth, i enjoy traveling cheap. hard to beat dirt-bagging it because it takes you off the beaten path and you end up meeting some pretty cool folks and seeing some very cool things. I often think about how much dental school and the ensuing career will change this perspective.

so, i'm heading to africa. lifelong dream. funny thing is that i spent Jan/Feb in Thailand/Laos (somewhat randomly, while planning my last-hurrah Africa trip), and guess what: every street-food pho bowl i ate was 30 bhat. about $1.
 
dent2638 said:
haha...again thanks for the input - don't know how this turned into a pho throw down, but good to get perspective from the masses.

after some soul-searching (and hearing good arguments from both sides from the SDN gallery), i've decided that I can't afford not to go. financially, it may be unwise, but i'll try to hold back and leave a bit of reserves. it is a trip where I have to spend a good 2-3 months to do it right. Time outweighs money in my book and though free time was an initial factor in looking further into the profession - i can't imagine that i'll ever have the opportunity to spend a block of time like this again.

and for what it is worth, i enjoy traveling cheap. hard to beat dirt-bagging it because it takes you off the beaten path and you end up meeting some pretty cool folks and seeing some very cool things. I often think about how much dental school and the ensuing career will change this perspective.

so, i'm heading to africa. lifelong dream. funny thing is that i spent Jan/Feb in Thailand/Laos (somewhat randomly, while planning my last-hurrah Africa trip), and guess what: every street-food pho bowl i ate was 30 bhat. about $1.
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Have fun! I'm jealous!
 
dent2638 said:
so, i'm heading to africa. lifelong dream. funny thing is that i spent Jan/Feb in Thailand/Laos (somewhat randomly, while planning my last-hurrah Africa trip), and guess what: every street-food pho bowl i ate was 30 bhat. about $1.
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Nice, have fun. And it's good to hear that Thailand is still cheap - my wife and I are spending 3 weeks there in May and then I'm coming back to sell security systems in Arizona for the rest of the summer.
 
tmac001 said:
Well, when was the last time u were there? or do u just hear things and assume them to be true? ur aunts pho shop sells .75 cent pho? really? ask her and let me know her actual price in dong.
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Yes, I've been back multiple times. She sells it for about 25,000 VND, but she's not a street side stall either. She's not in a big city, but a bowl of pho costing more than 50000 dong is definitely egregious. Even at 50000, it better be some pretty awesome pho. Hotel restaurants sell them for like 150000 dongs to tourists, but the idea of a bowl of pho costing that much is slightly ridiculous to a lot of people. Like you said, there's a large gap between the rich and poor, as such there are also pretty much two price levels. You can either seek out the cheap one or the exorbitant one.

I just booked some midrange hotels in Hanoi near the Old Quarter and also in Saigon for $8-10 a day. That's where I got that figure. But I know there are cheaper ones, so I'm definitely going to shop around once I get there.

tmac001 said:
EDIT: stop being ignorant. you can prove the things u said to me by traveling to Vietnam, and only spend 10 dollars or less. Honor system.
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Oh ouch, name calling. I'm about to prove it, man, not only prove it but I pretty much HAVE to do it because my budget is relatively small. Making preliminary bookings and transport arrangements and talking with my extended family about it though, I'm really not worried.

Yes, travel days will be more expensive, especially if you hire an AC van for yourself or something... but when I did it before, non travel days barely cost me $5-6 in terms of food. It averages out.

tmac001 said:
So if the "non-american" portion is 1/2 of the pho size here and it already costs 2-3 dollars then it would be 4-5 dollars for one meal, drinks and everything for someone who is NOT from there. Or are you suggesting that us travelers should never be full after a meal? yay for traveling and actually trying to enjoy things.
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Err... don't know what to tell ya on this one. I'm sorry Americans are used to eating a lot? I usually have to take leftovers home at restaurants here in the US.

To OP: Sorry, I'm glad you made a decision though, whether we helped or not, LOL.
 
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Come to India!! we'r still affordable and everyone's invited!!
 
charlestweed said:
My brother, a poor third year internal medicine resident, is doing volunteer work in Vietnam right now. He thought things are cheap there so he only carried with him $500 in cash. That $500 was gone in less than 3 days😱.
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My brother has just returned home from Vietnam. A pho bowl in Vietnam costs about 2 bucks and it is not as tasty as the pho in Bolsa (Westminster, CA). He bought a cool T-shirt for my son.
 

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Daurang said:
Yes let's talk about kesar and alphonso mango! They're soooo gooood!
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O yeah!! But Alphonso is cheap only during summer. the first batch just came out and they went for $12 a piece here!! I can only imagine what they must cost in the US..
 
BombayBDS said:
O yeah!! But Alphonso is cheap only during summer. the first batch just came out and they went for $12 a piece here!! I can only imagine what they must cost in the US..
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They have alway gone for $30 a case of 12-14 mangoes. It's so sickeningly good I easily go through 20 cases for breakfast, lunch, dinner, late nite snack during the one month in May when it's available.
 
Daurang said:
They have alway gone for $30 a case of 12-14 mangoes. It's so sickeningly good I easily go through 20 cases for breakfast, lunch, dinner, late nite snack during the one month in May when it's available.
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Wooo..... thats exactly what we do!!!
:laugh:👍:laugh:
 
promolion said:
i thought about cruises, shooting range, and strippers. but those loan interest and rent deposit make me stay home. i say enjoy when you are a dentist and not a student.
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Blah blah loan interest. This guy is boring. Do not take this advice. :laugh:


Honestly, I am a D1 and I did not enjoy last summer to the fullest and so I'm about to break out and go BANANAS this summer coming up (which will officially be the last summer of my life) You can't spend your life waiting for the right and responsible time to be happy and enjoy yourself. Just freaking do it!!! You will not regret it. You will regret not doing it.
 
Honestly, I am a D1 and I did not enjoy last summer to the fullest and so I'm about to break out and go BANANAS this summer coming up (which will officially be the last summer of my life) You can't spend your life waiting for the right and responsible time to be happy and enjoy yourself. Just freaking do it!!! You will not regret it. You will regret not doing it.
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Listen to DudeDDS, take the trip... you definitely will not regret it. Just leave ample time to ensure that you make it back in time for D1 orientation!

I guarantee come mid fall semester, probably around October (referred to as "Red October" at our school) you'll be looking back and thinking to yourself "I'm damn glad I went on that trip." First year sucks. Enjoy all the time you can before it starts.

Best of luck in your African travels.
 
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