This post may not be helpful for everyone, but those entering or in dental school may be wondering how on earth can I afford $75,000 in tuition and live off of student loans? I work very hard to take out as little money as possible and have sort of worked a system and found little ways to save big money.
1. I have a monthly budget. Every dollar has a place. Whether that be rent, groceries, or extra spending money, every penny is given a name at the beginning of the month. If I over spend in one area, the money comes out of another category to make sure I stay within my monthly allotment.
2. I shop in bulk. It seems like you are spending a lot more money, but in the long run (as long as you actually use everything), you can save big bucks. I have a costco membership and buy nearly all my groceries there and shop once or twice a month. The biggest catch is buying things I know I can't finish on my own. I cannot personally eat 25 oranges in one week, so I would end up losing money because I'm not eating all of it. Another way to maneuver bulk shopping is to split big items with other people. Toilet paper for instance comes in a pack of 48. If you don't have storage for all those rolls split it with someone else, so you only have 24 rolls and you both end up saving money!
3. I don't waste anything. Whether it be food or toothpaste, I make sure to get my money's worth of everything. If I have a bag of carrots I haven't touched and they are about to go bad, I put them through my juicer. I also plan out my meals so I don't buy anything extra.
4. I meal prep. I cook every Sunday night for 4 hours to prepare all my meals for the upcoming week. This allows me to save money throughout the week by being prepared. I pack my lunch everyday and already have multiple meals cooked for easy access. If I didn't cook once a week for the whole week, I would be prone to stop by a restaurant for a quick meal, but having food completely ready to eat stops me.
5. I reduce waste. I cut dryer sheets in half, use tide laundry pods, use finish dishwasher tablets, and buy pump shampoo, conditioner, and face wash. All of these things help me not to use too much. I found myself using a handful of shampoo when I only needed tablespoon. I use the same amount of pumps everyday now and my shampoo and conditioner lasts months! (I buy the giant bottles at Costco). My washing machine and dryer are smaller than normal in my city apartment, so there is no need for a full dryer sheet, half does just as good.
6. I don't have pets. I know a lot of people are huge animal people, and there is nothing wrong with that, but I do not have any extra expenses that come along with being a pet owner.
7. I drive an older car. No car payment, great gas mileage. I don't have cruise control, and my FM radio just recently went out, but it gets me from point A to point B and all it costs me each month is gas and a few oil changes a year.
8. My beauty salon expenses are at a minimum. I only get my hair cut 3 times a year. I also don't dye or highlight it. I paint my own nails with essie gel setter top coat and it lasts almost just as long as the salon. I also don't wear makeup everyday. I wear mascara and call it good.
9. I don't pay for things I don't need. I found an apartment with a gym in it. Is the gym perfect? Does it have everything I'm used to using? No, but it has enough and I can still get a great workout in without paying a monthly gym fee. I don't pay for subscriptions on spotify or XM radio. My apartment includes cable, otherwise I wouldn't have that either. Netflix is so cheap compared to cable and honestly I prefer it.
10. I look for sales and coupons. If I know I need new clothes or shoes, I never pay full price. A few months ago I knew I needed new workout shoes and was looking online for the best price. Well, it turned out that my favorite shoes came out with a new model that was $120. However, I went through different websites and found the older model on clearance and got two pairs of the older model for $110. Now I have two brand new pairs of shoes just waiting until I need them. I also buy simple clothes that are versatile. Tank tops for the summer can easily be worn in the winter with a cardigan or jacket. Skinny jeans can be worn as pants or capris, dressy or casual. Never buy an outfit that can't be mixed and matched with other clothes in your closet.
11. I use my skills. I know how to sew, and I learned how to refurbish furniture. Instead of buying throw pillows, I made new covers for old ones. Instead of buying new furniture I found some items at garage sales and sanded them down, stained, and finished them to be what I wanted. My apartment looks like I bought it all new, but I just made old into new!
12. I make money wherever I can. The first few years of dental school I babysat two kids 10-12 hours a week. Throughout school I've made t-shirt quilts for people. I am not above mowing grass or raking leaves for a few extra dollars. Work study is also a great opportunity to make a little extra money. Even though it may seem like nothing, little jobs add up. Even if you can make $200 a month working in the library for work study, that makes a difference. ($2,400 a year!)
13. I stay healthy. 8 hours of sleep a night, vitamins, working out, and healthy foods. I work to prevent illness and high medical bills by staying healthy.
I promise living on a tight budget is doable without feeling like you are dirt poor. I am allergic to gluten and dairy, so I can't buy cheap food like PB&Js, and I make it work! The fewer loans you take out, the less interest is accruing, and the less you'll be in debt in the future. I know everyone's situation is different, but don't be discouraged! Dental school is definitely rough on the piggy bank, but it will be so worth it after graduation. Personally I will be much happier knowing that I struggled through dental school to keep my debt down, and have fewer years paying off my debt, than if I would have taken out as much as possible to live on a huge budget during dental school. You are so busy with school, you don't need to live the high life. I hope this helps someone, because I know looking at dental school tuition and knowing you can't fit a job in is stressful.
"For where your treasure is, your heart will be also" - Matthew 6:21
"Keep your lives free from the love of money and be content with what you have, because God has said, "Never will I leave you; Never will I forsake you." - Hebrews 13:5
