How to Live On an Intern Salary

Congrats! You just landed an amazing internship. The downside, the pay is minimal or non-existent. Here are some tips to survive financially while getting valuable experience.

Instructions

1. Figure out how short you are to meeting your base. First, calculate your costs for a minimal existence. This should include groceries, rent, utilities, transportation, and personal expenses. Then calculate your income. Figure out how short you are every month.

2. Consider a second job. Many interns work nights and weekends at a local coffee shop or retail store. Others babysit, tutor, and do odd jobs. These are great opportunities to pick up extra cash.

3. Try to get free food. There are lots of receptions and events with free food and drink. This will allow you to cut your costs while having fun.

4. Avoid money pitfalls. It is great to bond with your co-workers, but dinner, drinks, and the movies will cause you to break your budget. If you go out, try to only go out for drinks and stick to one.

5. Use your internship to advance your career. If you are taking a financial hit for your internship period, try to network and use your contacts to find a higher paying next job.