save or spend before d-school?

[omgroll]

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Hi guys,

I'm going into ds this coming aug/sept. I'll be taking on about 270~300k debt with
40-50k being 5% interst added on starting 2018 june
and 230- 250k being 3% right after I spend it. So by the time I graduate ill be having 300k+debt.
I'm currently working part-time living with my parents and I don't have any money saved up (only about 3k ..I had to fly out for 4/5 of my interviews, hotel, suits, grad trip etc).
I'm thinking of quitting my job (I work 10-11 hr a week and get paid $22/hr) and enjoying the rest of the summer. Travel around with the 3k I have.
But I'm scared of being completely broke going into dschool.
What do you guys think?
Have $0 going into d school with a fun relaxed summer or work more save about 5k and have a mediocre summer?

 

[free99]

Unless your parents are willing to bail you out if you get into any financial pinch (car breaks down, accident, medical bills, etc), then I would definitely not let your savings go down to $0. If they are, I'd hit the sky and go somewhere awesome.

 

[#dental4life]

I would save and then party later when you make 300k as a dentist with debt paid off 😀

 

[gnleff]

I personally wouldn't mind working and having a mediocre summer. No summer would be mediocre knowing that you're going into dental school.

You'll soon appreciate that you'll have money during the year to spend on stuff you want/need.

 

[sacapuntas]

I would not waste your last 3k...that isn't much of a buffer to begin with. Can you work more than 1 job? 22/hr is good, but 10-11 hours is not. I would try and pick up another job and work a ton until 2 weeks before school starts. Every little penny y0u can save before school will make school more fun. There are a lot of trips, stuff with frats, going out, etc that can't happen without money. Plus, you will need to buy loupes, boards materials, scrubs and other dental stuff.

 

[omgroll]

I personally wouldn't mind working and having a mediocre summer. No summer would be mediocre knowing that you're going into dental school.

You'll soon appreciate that you'll have money during the year to spend on stuff you want/need.

That is right.

I'm refraining from working more because whatever I have by the school starts will be reduced from my student grant/loan which really sucks 🙁. I live in canada so it I'm unsure of how financial aid works in the US but for us its like that. But looking at you guys' posts I think I'll start tutoring (~35-45/hr since I'm predent now woohoo! and it won't be reported to the gov) to save some money so I can enjoy the school years 😉
Thanks!

 

[Glimmer1991]

Unless your parents are willing to bail you out if you get into any financial pinch (car breaks down, accident, medical bills, etc), then I would definitely not let your savings go down to $0. If they are, I'd hit the sky and go somewhere awesome.

In the case of my parents, I just know they'd be pissed! Haha. I can see it now, "If you have all this money to spend right now and don't need to work, then you clearly don't need our help paying for anything in dental school..."

So yup. I'm working 40 hours a week. 😛

 

[free99]

In the case of my parents, I just know they'd be pissed! Haha. I can see it now, "If you have all this money to spend right now and don't need to work, then you clearly don't need our help paying for anything in dental school..."

So yup. I'm working 40 hours a week. 😛

Hah! All too familiar, been working steadily since 16.

 

[omgroll]

In the case of my parents, I just know they'd be pissed! Haha. I can see it now, "If you have all this money to spend right now and don't need to work, then you clearly don't need our help paying for anything in dental school..."

So yup. I'm working 40 hours a week. 😛

My parents are willing to bail me out but I don't want them to spend more money on me after paying all of my undergrad tuition+living cost. My parents are also not very fond of me working at the moment and had been asking me to quit since Jan (nothing wrong with the job. It's tutoring science). This is b/c of personal/family stuff that's been going on this yr.
Glimmer if you don't mind me asking, what kind of job do you have now? Dental related?

 

[quocstazz]

Tbh I'd spend some of those money and enjoy my summer before dental school. 3k ain't much when you're paying about 20k per quarter

Sent from my Nexus 5 using Tapatalk

 

[Glimmer1991]

My parents are willing to bail me out but I don't want them to spend more money on me after paying all of my undergrad tuition+living cost. My parents are also not very fond of me working at the moment and had been asking me to quit since Jan (nothing wrong with the job. It's tutoring science). This is b/c of personal/family stuff that's been going on this yr.
Glimmer if you don't mind me asking, what kind of job do you have now? Dental related?

Nope, not dental related--I'm actually working in the marketing department at a business. 🙂 Random, I know, but I had connections and it pays pretty well!

Man! Well, if they're willing to bail you out, I'd just do as you please. Though my parents easily have the funds to do so and they paid for all of my undergrad+living expenses, they're wanting me to be more fiscally independent now that I'm entering adulthood... Which I know I will appreciate one day, LOL! I'll be taking out loans for dental school, but they have given me so many opportunities that allowed me to be where I am today. I can hardly complain. My Dad came from absolutely nothing and has really "made it" in the business world, so I have always had a fantastic role model in him when it comes to work ethic (and saving money, too).

My parents have never urged me to not have a job... Quite the contrary! Like I said, though, I'd go ahead and live it up if they are cool with it. 🙂

 

[omgroll]

Nope, not dental related--I'm actually working in the marketing department at a business. 🙂 Random, I know, but I had connections and it pays pretty well!

Man! Well, if they're willing to bail you out, I'd just do as you please. Though my parents easily have the funds to do so and they paid for all of my undergrad+living expenses, they're wanting me to be more fiscally independent now that I'm entering adulthood... Which I know I will appreciate one day, LOL! I'll be taking out loans for dental school, but they have given me so many opportunities that allowed me to be where I am today. I can hardly complain. My Dad came from absolutely nothing and has really "made it" in the business world, so I have always had a fantastic role model in him when it comes to work ethic (and saving money, too).

My parents have never urged me to not have a job... Quite the contrary! Like I said, though, I'd go ahead and live it up if they are cool with it. 🙂

Good for you🙂 it seems like you had a wonderful opportunity and you took it.

My dad is similar in that he came from nothing and is making a decent living only working 6months a yr in another country (immigrants). The reason he doesn't want me working is because he wants me to help out things at home and be on call for my 2 siblings till the end of May... which is really no fun🙁

Anyways thanks for sharing your pov. I think I'll keep working till the end of May and visit my home country (first time in 12 years!) to visit my relatives and hang out with my dad whom I see only 6m/yr. Maybe work till mid Aug after coming back to make few k but I'm unsure atm.

 

[Glimmer1991]

@omgroll, Taking care of your family is definitely a good reason to scale back on the working! I've never been in that position, but I would definitely scale back if it was needed for my family.

 

[InspiredDDS]

Don't forget about moving expenses! You will need a security deposit, and also at least first and possibly last month's rent to move in to your new apt. Unless you are living at home of course. I also rented a moving truck for about 1200$..then had to gas it up for 700 miles. I also purchased a brand new mac...etc etc. There are a lot of big expenses in your near future. Unless your parents intend to pay for them I'd keep that job.