Graduate stipends may be generous or minimal and local cost of living may be high or low. Any which way, you can choose a lifestyle and money management system that enable you to efficiently allocate your pay.
You just received your offer letter, but you don’t have context for the stipend amount vs. the local cost-of-living. How far will my stipend go?
The most optimal time to think about you money and deliberately choose your lifestyle is before you even arrive on campus. Set yourself up for success by keeping your large fixed expenses in line and bring savings with you to grad school.
Before you start making a budget, reflect on your values. Only then can you formulate your goals and pick your tactics.
Learn to think of your low income as a blessing in disguise.
Don’t buy the pro-credit card or anti-credit card hype. You need to determine whether using a credit card is best for you.