Personal Finance for PhDs This International Grad Student's Low Fixed Expenses Enable Her to Invest and Travel
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Mar 9, 2026 Mrunal Zambre, a fourth-year international PhD student at the University of Pittsburgh who manages finances on a grad stipend. She describes her money-management system and how low fixed costs let her save and invest. She shares travel and credit card strategies, using the Bilt card for rent rewards. She also outlines her simple index-fund investing approach and how she and her partner split expenses.
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Stipend Increase Enabled Real Investing Progress
- A higher-than-typical stipend can materially change financial options during grad school.
- Mrunal's stipend rose from $33k to $41,199, enabling maxed Roth IRAs and taxable investing while keeping living costs low in Pittsburgh.
Low Rent Share Frees Room In Stipend Budget
- Mrunal pays about $620 monthly for her share of a $940 one-bedroom rent while living with her grad-student partner.
- That rent equals roughly 20% of her take-home stipend of ~$3,180 per month, leaving room to save and invest.
Bought A Reliable Older Car In Cash
- Mrunal bought a 2012 Honda Civic in cash in 2021 and now pays about $90 per month for insurance.
- She uses the car mainly for groceries and occasional trips, keeping fuel and maintenance costs minimal.
