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Author Topic: Budget Miscalculation  (Read 926 times)

ScurvyWench

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Budget Miscalculation
« on: August 04, 2005, 07:02:17 AM »
Between moving to another state and everything else, I lost sight of my budget and I'm about $2000 over for 1st semester. How can I reconcile this? The amount that I'm over basically equates to living expenses and I could technically have my husband cover me--but I'm still over budget!  :-[

I know that I have to ask my husband to help, but I'm still beating myself up over this. (Typically I'm incredibly financially responsible and budgeted to the hilt.) So on top of panicking about law school, now I'm panicking about money.  :'(

So, what I need is either: I'm so sorry, I did the same thing (or similar). Or here's how you can fix it. No bashing please. I'm already doing enough of that to myself.

EDIT: I figured out how it happened. 1st semester expenses are more expensive than 2nd semester. So I have excess 2nd semester because I calculated annually instead of on 2 semester installments. Doesn't change the fact that I have no cash!

Texan29

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Re: Budget Miscalculation
« Reply #1 on: August 04, 2005, 07:54:16 AM »
Don't feel bad, I'm in the same boat. I've been beating myself up over living expenses for the past couple weeks. I'm one to error on the side of caution borrow a little more than I need to cover me should anything get out of hand. Even with my little bit of excess borrowing it seems that I'm still way under the average debt projection for a law student. A lot of things are up in the air right now with my scenario my wife won't have a job until we can get down there and interview. She's an accounting and finance major with a strong work experience in accounting. Hopefully her salary will be able to support us both, but if not, I know I'm borrowing a nest egg to make ends meet.

I don't know if this will help in your situation, but just have faith. Thankfully, borrowing opportunities are plenty for students who need to live on little to no income and in three years we should have very little trouble paying it back!
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Nadege

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Re: Budget Miscalculation
« Reply #2 on: August 04, 2005, 09:51:27 AM »
I was also having a problem budgeting for the 1st semester. I spoke with a financial aid counselor and he bumped up some of my aid from the spring semester into the first so that I would get more of a refund. He explained to me that as a 1l, I wouldn't really know exactly what my expenses would be like until I got to school. Once the semester started, I would be able to make a more educated guess as to what I needed to do for the spring. I don't know if my situation really helps you that much or even if you took out loans that you can possibly use to cover your overage. But I hope everything works out.
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momofthree

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Re: Budget Miscalculation
« Reply #3 on: August 04, 2005, 10:41:34 AM »
I'm right there with you.  I'm dipping into the family budget.
You want me to go all the way up there, to a Yankee school, just so I can come over every weekend and practice "free love" with you?

ScurvyWench

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Re: Budget Miscalculation
« Reply #4 on: August 04, 2005, 11:17:53 AM »
Well, I just found out from the financial aid office that we're definitely getting the laptop allotment as a lump sum first semesters. So that's $1075 taken care of. Now just to manage the other $900. . . Whew!

Thanks everyone for the kind words and sharing stories. It REALLY helped.

MSUDuster

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Re: Budget Miscalculation
« Reply #5 on: August 04, 2005, 01:32:59 PM »
I tried putting my body on the street. I was offered a ham sandwhich. I took the offer.

Ragnar Danneskjold

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Re: Budget Miscalculation
« Reply #6 on: August 05, 2005, 12:52:47 AM »
I did the same thing.

Not the body/ham sami thing, the budget/mess up thing.
I'm an NYC boy, 153/3.3

ATTENDING: Santa Clara w/$$$
Accepted: Marquette($), Villanova, Howard, Univ. San Francisco($) 
Out: Boston College, Temple, Michigan State Univ.
Wait List: Seattle Univ., Univ. Pittsburgh, Rutgers-Newark, Syracuse

Ragnar Danneskjold

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Re: Budget Miscalculation
« Reply #7 on: August 05, 2005, 01:01:43 AM »
By the way Scurv, ifinally got onto SCUs campus today. It was tres belle. Iwent into the law building and i met the person who I had been speaking to on the phone for the past two weeks. One thing kind of freaked me out though:  I live in Brooklyn, NYC. I live on the J train line which runs on Broadway and the stop that I live at is called Kosciusko. That's not wierd of course. What is wierd is that on the staircase going up to the second floor of the Law building, there is a painting of the Koskiusko st. station on J train line in Brooklyn, NYC. I stood there for like three minutes wondering what are the chances of that kind of thing happening. I mean, of all of the stations in NYC, of which there are quite a few, what are the odds of MY train station being up there. 

Does anyone else see how wierd that is? I hope it's a good omen. I mean, it's got to mean something dammit! :-\
I'm an NYC boy, 153/3.3

ATTENDING: Santa Clara w/$$$
Accepted: Marquette($), Villanova, Howard, Univ. San Francisco($) 
Out: Boston College, Temple, Michigan State Univ.
Wait List: Seattle Univ., Univ. Pittsburgh, Rutgers-Newark, Syracuse