For the first six months after I began working, I lived like a king, but after that, buying crap and eating out losses its thrill, so I went back to living like a (semi-well off) student. I budget and plan accordingly. Aside from broadband, I have no other 'luxury' expenses. I don't shop for clothes despite being female, and I don't like to waste money on 'stuff'. The only thing I watch myself on is food, I love going to nice resturants....so I try to save money and use it to splurge on that. Otherwise, I live frugally, but not cheaply. I figure, we aren't English PhDs, but future physicians, so we WILL have a well paying job after we finish. No need to live off scraps, just live enough to have small joys in life and avoid credit card debt. Being a med student is one of the better ways to go through grad school IMHO.