How to Live Cheaply While Going to Graduate School

Make it here without spending a lot of dough.

So, you've been accepted to the school of your dreams to get your advanced degree in the field of your choice. Once the initial sheen of pursuing your education wears off and the reality of the money you'll owe after getting your degree sets in, you'll begin to think of ways to make and save money while in school.

Instructions

1. Consider living with roommates. Most programs will set up a listserv so you can interact with other students before your program begins. Use the listserv to see if anyone is looking for a roommate. Also consider checking out Craigslist or Roommates.com. You might also consider renting a room in a group house.

2. Look for scholarship, assistantship and stipend opportunities from your university. These are great opportunities to earn money. Even if you aren't offered an assistantship within your program, look through your university's career bank for other assistantship opportunities within other departments or offices. These places will often be more considerate of your class and homework schedule.

3. Grocery shop more wisely. Instead of buying fresh vegetables, try frozen options instead. If you prefer fresh fruit, buy whatever's on sale and switch it up weekly. Also consider buying frozen dinners at about $3 a pop–these are portable, easy to take to campus and cheaper than purchasing something from a fast food joint. Of course, there's always the option of macaroni and cheese or Ramen noodles–but I'd use those sparingly.

4. 

   Check your local and school library for textbooks you need for class. These places might have the books you need so you won't have to shell out money for new books. If that's not an option, consider asking another student to split the costs of a book and share it between the two of you.

5. Want to see a movie? Consider skipping shelling out $10 for a movie ticket at your theater and instead checking out a movie from your university's library–you may be surprised at the selection. If you must see a new flick, try going to a matinee and using your student ID to get a discount.

6. If you live in a big city or live close to campus, try walking or using public transportation to get to campus instead of driving. You'll be amazed how much you'll save on gas. If you must drive, try carpooling.

7. If you still need more money, considering looking through Craigslist or approaching law firms and other companies in the area about part-time research positions. Many companies look for graduate-level students to do simple research or database work part time.

Tips & Warnings

• Be frugal about your spending–try not to eat or go out too often. But also allow yourself to have a good time–grad school is stressful and sometimes you need to relax.

• If you absolutely need money and none of the options above are working for you, consider taking out a personal loan. While not a perfect solution, it will help you get through a financially tough time.