How to save money in medical school

[LadyJubilee8_18]

---

Members do not see this ad.

So my financial aid package theoretically doesn't cover all of my living expenses, and I was wondering how you current medical students cut corners and save money on living expenses. My sister says that being a graduate student is like being a very educated bum and that I'll figure out ways to live very cheaply. Baylor says that books and supplies will cost me around six thousand dollars (which seems a bit much to me), how do you guys get around spending this kind of money every block?

 

[DrBowtie]

So my financial aid package theoretically doesn't cover all of my living expenses, and I was wondering how you current medical students cut corners and save money on living expenses. My sister says that being a graduate student is like being a very educated bum and that I'll figure out ways to live very cheaply. Baylor says that books and supplies will cost me around six thousand dollars (which seems a bit much to me), how do you guys get around spending this kind of money every block?

What happened to your modeling job?

 

[LadyJubilee8_18]

What happened to your modeling job?

see I'd have to take classes (since I don't have any experience) before I'd get the contract. I was planning to pay for the classes with the bond money I "knew" I'd get, and that fell through so I don't know if I'll be able to do the modeling. I'm really pissed, but oh well.

 

[tinkerbelle]

If you want to save money, buy books from upperclassmen.... they usually give you awesome deals. Don't buy all the text books. Usually it's a waste of money, so just ask 2nd years which ones are actually useful. Also, pack your lunch instead of buying the over priced cafeteria food.

 

[mjl1717]

If you want to save money, buy books from upperclassmen.... they usually give you awesome deals. Don't buy all the text books. Usually it's a waste of money, so just ask 2nd years which ones are actually useful. Also, pack your lunch instead of buying the over priced cafeteria food.

this is good advice-pick at most only 2 or 3 bible textbooks since you probably wont use those big monsters for step 1. Also go to discount supermarket and by some Banquet frozen chicken pot pies and pizzas,stock up on tea, sardines, tunafish and other cost effective foods. make sure you always have 3 good pairs of jeans. soymilk doesnt really spoil fast nor does it need refridgeration, you can by 12 chicken franks or regular franks on sale for maybe $1.00. learn how to make your own chili concarne, its nor hard.

 

[Dunce]

this is good advice-pick at most only 2 or 3 bible textbooks since you probably wont use those big monsters for step 1. Also go to discount supermarket and by some Banquet frozen chicken pot pies and pizzas,stock up on tea, sardines, tunafish and other cost effective foods. make sure you always have 3 good pairs of jeans. soymilk doesnt really spoil fast nor does it need refridgeration, you can by 12 chicken franks or regular franks on sale for maybe $1.00. learn how to make your own chili concarne, its nor hard.

"queasy" is the word that came to mind first when reading that

You don't have to eat the super nasty bum food, but I do agree that wise grocery shopping is a key way to save some extra bucks. Try to stock up on items when they are on sale or even better "buy one get one free." Go to the grocery store once a week and get the stuff on sale (that you might actually use) and try to stay away from buying random overpriced products when they are not on sale.

Cable/internet is a big expense for me (ie $100+ per month), so I recently cancelled both because I am away for almost 2 months during my last summer ever and don't need to pay for that in my empty apartment. I don't have any plans to get the service again anytime soon because I will be pretty busy during the upcoming 3rd year and don't expect to have the time to sit around and watch hours of cable like I used to. It also helps that I am in an apartment building and can almost always pick up someone's free wireless internet signal 😉 . I may go back to getting the internet and a cheap version of cable sometime in the future.

Rent is probably the biggest expense anyone will have. If you can, buy a place and buy it early in your education. I waste money on rent because I live alone in a nice place, but I like it that way.

Don't waste money on textbooks, and try not to buy books that are brand new unless you just hate looking at someone else's highlighting and notes scribbled all over the pages. I made the mistake of shelling out far more than I needed to on books for the first two years. Some first year kid is going to get pretty darn lucky when he/she buys all of my basic science and review books when I offer them up for super cheap about two months from now.
Check the library -- it will have most of the books you may need for classes

Self control in avoiding "blowing money" is the other key to living on the scraps that the financial aid office throws in our direction. This includes thinking twice before buying some new overpriced clothes that you really don't need or deciding to buy another round of shots at the bar that will send your tab skyrocketing up toward triple digits. I have done this kind of stuff way too many times and feel like a fool when I think about how many times I have wasted opportunities to conserve money.

I hate living on loans as do most, but good luck!

 

[infiniti]

Great Advice! As for the booze thing, try buying a bottle and keep it in your house(this should last for quite some time). Take a few shots before you leave (of course, have a DD) and you won't have to buy any drinks/make a fool of yourself by throwing up!

Also get a roomate /two to dramatically reduce your utility cost.

"queasy" is the word that came to mind first when reading that

You don't have to eat the super nasty bum food, but I do agree that wise grocery shopping is a key way to save some extra bucks. Try to stock up on items when they are on sale or even better "buy one get one free." Go to the grocery store once a week and get the stuff on sale (that you might actually use) and try to stay away from buying random overpriced products when they are not on sale.

Cable/internet is a big expense for me (ie $100+ per month), so I recently cancelled both because I am away for almost 2 months during my last summer ever and don't need to pay for that in my empty apartment. I don't have any plans to get the service again anytime soon because I will be pretty busy during the upcoming 3rd year and don't expect to have the time to sit around and watch hours of cable like I used to. It also helps that I am in an apartment building and can almost always pick up someone's free wireless internet signal 😉 . I may go back to getting the internet and a cheap version of cable sometime in the future.

Rent is probably the biggest expense anyone will have. If you can, buy a place and buy it early in your education. I waste money on rent because I live alone in a nice place, but I like it that way.

Don't waste money on textbooks, and try not to buy books that are brand new unless you just hate looking at someone else's highlighting and notes scribbled all over the pages. I made the mistake of shelling out far more than I needed to on books for the first two years. Some first year kid is going to get pretty darn lucky when he/she buys all of my basic science and review books when I offer them up for super cheap about two months from now.
Check the library -- it will have most of the books you may need for classes

Self control in avoiding "blowing money" is the other key to living on the scraps that the financial aid office throws in our direction. This includes thinking twice before buying some new overpriced clothes that you really don't need or deciding to buy another round of shots at the bar that will send your tab skyrocketing up toward triple digits. I have done this kind of stuff way too many times and feel like a fool when I think about how many times I have wasted opportunities to conserve money.

I hate living on loans as do most, but good luck!

 

[SanDiegoSOD]

Rent is likely to be your biggest expense in med school, so the easiest way to save money is to get the cheapest housing you can afford. Rent can vary wildly based on your situation - think of the difference between sharing a master bedroom in a 2 bed apt verse living in your own one bedroom - you'll pay less than half in the former vs the latter. HUGE savings by sharing a house/apartment, even more by sharing a room.

I wouldn't recommend eating like a pauper throughout school. You save a lot of money by cooking/preparing lunches instead of eating out, but you really don't save a lot by buying super-cheap from the supermarket vs. making wise purchases, and you sacrifice a lot in flavor and quality.

 

[SanDiegoSOD]

Ummm... I noticed too late that I was an echo in the thread. Oh well 🙂

 

[lord_jeebus]

Live with a roommate

Learn to cook

Discover public transportation

Get textbooks from the library (For some reason hardly anyone at my school does this but me, so I can renew them until the class is over). Ask upperclassmen to lend or sell you everything else.

 

[Brian Griffin]

Live with a roommate

Learn to cook

Discover public transportation

Get textbooks from the library (For some reason hardly anyone at my school does this but me, so I can renew them until the class is over). Ask upperclassmen to lend or sell you everything else.

I second getting books at the library (unless you're the type of person that likes to write in your textbooks, which I don't). My friends will shell out literally hundreds of dollars for the newest edition "recommended" textbooks (the ones with the pretty pictures!). I don't know why more people don't take advantage of borrowing textbooks from the library...I don't know if people just don't realize that you can (for some reason), or they think owning books will make them look more intelligent, or what. I guess I shouldn't talk, because it took me almost half a year to actually have the epiphany that I spend most of my life studying in the library and libraries have BOOKS in them! I wish someone would have told me sooner 🙂

Also selling items you no longer need on eBay is a great way to get some random extra cash, such as old textbooks (the ones you bought before you realized you could find them at the library 😉 ) or electronics you don't use anymore (the graphing calculator you used in college but probably won't need ever again), etc.

Also, as far as supplies go, if your school tries to tell you that you need to buy an oto/ophthalmoscope during your 1st year, don't listen, because they're really expensive and you'll probably only need to use it once or twice (for practicing clinical skills or whatever). Definitely an item to borrow from an upper year or a classmate.

 

[Blade28]

You may need to take out a supplemental loan (or a personal loan). I had to.

 

[Doctor Bagel]

Check out stores like dollar general and big lots for soap, sponges, toothpaste, etc. If you have a lot of storage space, you might maybe benefit from joining a place like costco, but if it's just you in an apartment, I doubt you'll get a huge benefit. Stop drinking sodas, and if you can't, switch to generic. If you like wine, buy it by the case or buy multiple bottles at once to take advantage of store discounts -- many give 10% off if you buy 6 or more bottles at a time.

Plan on eating at home or bringing lunches for most of your meals, but don't make it too complex -- you're not going to have a ton of time to cook, and trying to make everything from scratch might drive you to run to a restaurant. Eat a lot of beans -- they're cheap and very nutritious. Potatoes are good, too, as are bananas, cabbage and broccoli. Other than that, always buy in season produce and check out your local farmers' market. You don't want to eat so cheaply that you sacrifice your health. Money spent on healthy food is generally money well spent -- having type 2 diabetes ain't cheap, you know. I'm planning on investing in a pressure cooker, so I can easily make soups and good dry beans in a hurry. Crockpots work for some people, but I'm not so great at the planning aspect. 🙂

Use the library to get both books for entertainment and music. I agree with ditching cable -- sign up for netflix so you'll have something good to watch when you do have time.

 

[stargirl50]

if youre a coffee lover, invest in a good thermal mug and make your own coffee to bring to school in the morning instead of stopping at starbucks/mcdonalds/whatever before class.

 

[LadyJubilee8_18]

if youre a coffee lover, invest in a good thermal mug and make your own coffee to bring to school in the morning instead of stopping at starbucks/mcdonalds/whatever before class.

Thanks for all the tips guys! Keep them comming!

 

[newdude]

to people who have said to borrow books from the library, i'm curious, aren't we gonna need those books later on. maybe in 3rd year or during step 1 prep.


plus, if the library doesn't have a semester check out thing, i'm scrwed.

 

[Keg]

to people who have said to borrow books from the library, i'm curious, aren't we gonna need those books later on. maybe in 3rd year or during step 1 prep.

Here's my understanding (and I'm pre-MS1, so here's a BIIIIIIIIG grain of salt to go with it), but when you're prepping for the Step I, you're just gonna do it with review materials, not with any textbooks or notes or anything (when you got ready for the MCAT, did you open old textbooks? I didn't...). And then during third year, you should have everything you need in your brain or on your PDA - and it'll be in the library if it's in neither of these two places. I might be wrong, though.

 

[lord_jeebus]

to people who have said to borrow books from the library, i'm curious, aren't we gonna need those books later on. maybe in 3rd year or during step 1 prep.

Funny you should mention that. I've borrowed half of my boards review books from the library as well.

I have bought some books though. Big Robbins is worth every penny if you ask me.

 

[OSUdoc08]

So my financial aid package theoretically doesn't cover all of my living expenses, and I was wondering how you current medical students cut corners and save money on living expenses. My sister says that being a graduate student is like being a very educated bum and that I'll figure out ways to live very cheaply. Baylor says that books and supplies will cost me around six thousand dollars (which seems a bit much to me), how do you guys get around spending this kind of money every block?

Don't buy the books.

I've never used a single textbook in medical school.

You pretty much need lab manuals and board review books (for practice questions.)

GO MAVS ! !

 

[Northerner]

So my financial aid package theoretically doesn't cover all of my living expenses, and I was wondering how you current medical students cut corners and save money on living expenses. My sister says that being a graduate student is like being a very educated bum and that I'll figure out ways to live very cheaply. Baylor says that books and supplies will cost me around six thousand dollars (which seems a bit much to me), how do you guys get around spending this kind of money every block?

Six thousand dollars for textbooks and supplies?!

Oh nevermind, I figured out why your estimate is so high....gold-plated post-it notes made the list, didn't it? Talk to upperclassmen, they'll tell you which books you need, which would probably help, and which are a "waste of money, just use the course notes".

 

[LO281OK]

I wish my school put $6000 in the budget. It would help the budget actually reflect the rent for me and my family...

 

[LadyJubilee8_18]

Don't buy the books.

I've never used a single textbook in medical school.

You pretty much need lab manuals and board review books (for practice questions.)

GO MAVS ! !

The bold print coupled with your avatar have let me know that you are by far the wisest person in this thread. I will follow your advice perfectly

 

[LadyJubilee8_18]

Six thousand dollars for textbooks and supplies?!

Oh nevermind, I figured out why your estimate is so high....gold-plated post-it notes made the list, didn't it? Talk to upperclassmen, they'll tell you which books you need, which would probably help, and which are a "waste of money, just use the course notes".

 

[docjolly]

from personal experience, i've learned:

SHOP FOR GROCERIES BEFORE BLOCK EXAMS...PREFERABLY EASY-TO-COOK or PRE-COOKED/MICROWAVABLE FOODS..

I'm so very serious about this. During every block of exams, I rarely had time to cook, and as a result, spent obscene amounts of money on fast food or restaurant food (I won't quote an amount b/c I'm quite ashamed to admit it 😳 ). Not only is this a waste of money, but a intake of excessive, unnecessary amounts of waist-thickening calories

 

[docjolly]

Don't buy the books.

I've never used a single textbook in medical school.

You pretty much need lab manuals and board review books (for practice questions.)

GO MAVS ! !

One of my close personal classmates actually has taken this same approach, and with the exception of Pretest or BRS, she has never purchased any books for our classes. She has saved hundreds of dollars..

If someone doesn't mind borrowing bookings, or even studying w/o them (I'm not certain if the latter is advisable), then this would be a good approach.

 

[MossPoh]

I am making some of my money for undergrad via online poker when I get the chance. 😛 I got a quick 500 bucks for study abroad that way.

 

[LadyJubilee8_18]

I am making some of my money for undergrad via online poker when I get the chance. 😛 I got a quick 500 bucks for study abroad that way.

BUMP
More tips!

 

[MadameLULU]

So my financial aid package theoretically doesn't cover all of my living expenses, and I was wondering how you current medical students cut corners and save money on living expenses. My sister says that being a graduate student is like being a very educated bum and that I'll figure out ways to live very cheaply. Baylor says that books and supplies will cost me around six thousand dollars (which seems a bit much to me), how do you guys get around spending this kind of money every block?

There is absolutely NO reason you should spend 6K worth in books/syllabi.

 

[crunchyhamster]

i spend obscene amounts on coffee. like probably $100/month (i know, it's embarrasing). It's my dirty habit. The problem is that I study best in coffee shops (as in i can sit in a chair and concentrate without falling asleep for 6 hours which doesn't happen in a library or at home for me). I also spend a lot for rent b/c I decided that I'm too old for roommates 🙂. So I decided these are my two luxuries. on everything else i'm ridiculously cheap.

This is how i economize:

I find a coffee shop that gives free refills. you'd be surprised at how much a small cup of coffee with some steamed milk and chocolate powder (1.65) tastes just like a $3.50 mocha. And i bring my own snacks b/c 3$ for a muffin is ridiculous.

I bought all my furniture off craigslist. The only thing that cost over $100 is my bed.

I try not to eat out more than once a week or so. stock up on food before exams.

I dont have cable or a landline. 25$/month on internet is it.

I only turn on my AC/heat when I'm at home (which isn't much).

buy used books off half.com, ebay.com, or amazon.com or from upperclassmen. when you figure out which ones you don't need, sell them back on the same website.

So yeah, i agree, you dont have to live like a hermit. I personally need a few creature comforts!

 

[Blade28]

Good tips, crunchyhamster!

 

[Stealth Vector]

Once your in medschool, check out the library website. Many a med school library have access/subscription to online textbooks, which can be a useful reference if you don't want to purchase textbooks.

 

[carrigallen]

The best way to save money is avoid monthly expenses. You don't have to be fastidious. Here is what I did:

1. No cable. Expensive and distracting at the most critical times.
2. No car at school. Live in a big city, so I avoid shelling out for gasoline, parking, and car insurance.
3. No landline. Cell phone is good enough.
4. No big purchases. Never drop more than $50 at a store shopping for clothes..this makes you consider your purchases more carefully.
5. No soft drinks or beers while dining at restaurants. They will inflate the bill tremendously. Soda isn't good for you anyway.
6. Keep gratuity at 15%.
7. Student discount: hairdresser.
8. Use student health center as your primary care doctor. Much less expensive than making big co-pays.
9. Make tiny free ATM withdrawals, like $10-30 at a time. Having less cash means less spending.
10. Always keep a few 1-dollar bills on you.
11. Avoid paying cover charges at nightclubs...learn where the backdoors are.
12. Get the cheapest drink and nurse it as long as you can. I empathize with waiters, but in your fiscal world they are like parasites.
13. Books can be shared, passed down, or borrowed from the library.
14. If pressed for time at the hospital, you can usually find a good free pharm lunch if you keep your eyes and ears open.
15. Be humble. Don't try to live above your means, cause it won't last long.
16. Closely analyse anything you pay for on a regular basis. Is it worth it?

 

[StevenRF]

A good one that saves me a crap load of money at bars / clubs. Order a really nice whisky on the rocks or some other higher quality liquor. The bartenders are usually more generous just because it's easy, you have some taste, and everyone else is getting crap like long islands. It's really strong, so the most people can't hack it and won't leach off your drink. Also, it's too strong to chug. One or two of these is plunty for a night. Oh yea, bring lots of chicks so you can get out of paying a cover.

Starbucks is the devil. Baristas are on the same level as your local crack dealer, unless you know one so that you can get free drinks 🙂 .

Avoid hanging out with people who are loaded. They usually don't consider that you're dirt broke when decisions are being made on what to do for the night.

Make use of bittorrent for your audio visual needs.

Buy a TV tuner for your comp instead of a TV since most comp monitors can easily run 1080p. 100$ vs a couple g's... Then you can use your comp as a TIVO as hard drives are really cheap these days.

Saved about 4g's building my own speakers/XO/amplifier.

 

[UserNameNeeded]

Buy a TV tuner for your comp instead of a TV since most comp monitors can easily run 1080p. 100$ vs a couple g's... Then you can use your comp as a TIVO as hard drives are really cheap these days.

Saved about 4g's building my own speakers/XO/amplifier.

For the totally technically unsavvy, are you saying if a person buys a TV tuner, their computer picks up the local channels? How do you make your computer into a TiVo?

Good advice!

 

[chef_NU]

The best way to save money is avoid monthly expenses. You don't have to be fastidious. Here is what I did:

1. No cable. Expensive and distracting at the most critical times.
2. No car at school. Live in a big city, so I avoid shelling out for gasoline, parking, and car insurance.
3. No landline. Cell phone is good enough.
4. No big purchases. Never drop more than $50 at a store shopping for clothes..this makes you consider your purchases more carefully.
5. No soft drinks or beers while dining at restaurants. They will inflate the bill tremendously. Soda isn't good for you anyway.
6. Keep gratuity at 15%.
7. Student discount: hairdresser.
8. Use student health center as your primary care doctor. Much less expensive than making big co-pays.
9. Make tiny free ATM withdrawals, like $10-30 at a time. Having less cash means less spending.
10. Always keep a few 1-dollar bills on you.
11. Avoid paying cover charges at nightclubs...learn where the backdoors are.
12. Get the cheapest drink and nurse it as long as you can. I empathize with waiters, but in your fiscal world they are like parasites.
13. Books can be shared, passed down, or borrowed from the library.
14. If pressed for time at the hospital, you can usually find a good free pharm lunch if you keep your eyes and ears open.
15. Be humble. Don't try to live above your means, cause it won't last long.
16. Closely analyse anything you pay for on a regular basis. Is it worth it?

1 thing that I have found worked for me this last year... when you go out make sure that you don't bring any plastic. just bring a certain amount of cash (like $15 or whatever). when that **** is gone, it's gone. no more drinks for you. i can remember several times opening a tab in the bygone days and suddenly its 50 or 60 bucks. also, never take a g/f out to the bars.

 

[newdude]

For the totally technically unsavvy, are you saying if a person buys a TV tuner, their computer picks up the local channels? How do you make your computer into a TiVo?

Good advice!

this works, i put a tv tuner thing on my PC, and i got channels. i don't know about the quality though. also, i'm not sure how this would work with laptop.

 

[Keg]

For the totally technically unsavvy, are you saying if a person buys a TV tuner, their computer picks up the local channels? How do you make your computer into a TiVo?

Good advice!

You can download or buy Personal Video Recording (PVR) Software.

 

[pillowhead]

Avoid hanging out with people who are loaded. They usually don't consider that you're dirt broke when decisions are being made on what to do for the night.

You know this is really important and I'm surprised no one else has mentioned it. As an M1 or M2 when most of your college friends are still living a pretty low budget lifestyle, this won't seem too hard. But as an M3 or M4, when your friends start earning >$100,000 after law school or business school graduation, it can be very hard to try and keep up socially. Non-med school friends (and med school friends who are lucky enough to be born or to marry rich) generally aren't intentionally trying to make you spend more than you can afford, but it will happen when they continually suggest doing things beyond your budget. Don't be embarassed about being poor and saying you just have to pass up once in a while. If they're really your friends, they'll try to accomadate.

As far as which textbooks to actually buy for the preclinical years, here's what I have kept from M1 and M2 years now that I'm a rising M4 (and I could probably even get rid of some of these)--

1. Netter's Anatomy Atlas
2. Moore's Essential Clinical Anatomy
3. Junqueira Basic Histology
4. Murray Medical Microbiology
5. Robbins Pathologic Basis of Diseae
6. Lilly Pathophysiology of Heart Disease
7. Lange Clinical Neurology
8. Acid-Base, Fluids, and Electrolytes Made Ridiculously Simple

Of course you'll need Step I review books, but buy them used and then sell them when your done.

 

[StevenRF]

For the totally technically unsavvy, are you saying if a person buys a TV tuner, their computer picks up the local channels? How do you make your computer into a TiVo?

Good advice!

Check out the FusionHDTV5 RT. It's 150, plug's into a PCI slot, and will get you all the normal and HDTV channels you receive. Has some ok software for recording, but if you know what you're doing go check out mythtv.org. This is the card a lot of people are using on their uber high end systems.

Here are the links
http://www.fusionhdtv.co.kr/eng/Products/RTGold.aspx
http://www.mythtv.org/
http://www.avsforum.com the holy grail of all things hifi

 

[Beaner81]

Hi All - How many of you had/have private loans in addition to loans from your school? I just got my financial aid package today and feel like there's no possible way I am going to hack it financially - plus my need is over $10,000 higher than my award+expected contribution. Hmm...

 

[JohnnyOU]

Big money saver:

pick the ugly hookers!

😉

 

[StevenRF]

Big money saver:

pick the ugly hookers!

😉

LOL I was just in TJ this weekend. I don't recommend that, cellulite city...

 

[medicomel]

a friend of mine goes there all the time and can't stop raving about it. i guess everybody's got their own idea of beauty.

 

[akpete]

Hi All - How many of you had/have private loans in addition to loans from your school? I just got my financial aid package today and feel like there's no possible way I am going to hack it financially - plus my need is over $10,000 higher than my award+expected contribution. Hmm...

getting a private loan to fill out your budget - I didn't even think twice about it.

getting a private student loan above and beyond the school's budget - this sucks. I had to do it unfortunately. You've gotta get a loan that doesn't go through your school. I had to get a cosigner d/t no income and the interest is 9%. Avoid this if you can.