That’s it folks: the buck stops here. Actually, I suppose I should say the pound stops here. Why? Because my last PhD stipend payment was today, and that means I have no more money coming into my bank accounts—bucks, bobs, quids, or otherwise—until I am finished with my PhD and I get a job.
Am I worried about not having an income? Yes, I am. A little bit, anyhow. After all, I am looking at another 8–12 months before I graduate. Which means it will be about 8–12 months before I am in a position to get a job (and therefore, and income!).
But I knew this day was coming and so I have planned for it. I have saved back a little bit of money from each of my monthly stipend payments over the past three years. And that means that I will have enough money to see me through to graduation.
I am also quite blessed in that I have a rent-free place to live for the duration of my studies. That’s because at the start of my studies a friend offered up the guest room in his home, knowing that a PhD would be unaffordable if I had to pay Edinburgh rents. Whilst I’ve given him a (small) chunk of money, I have not really paid towards my lodgings. Which is the main reason I was able to save enough of my stipend payment each month to cover me through the next few income-less months!
Or at least I will have enough money if there are not major catastrophes that require me spending my savings—or that mean it takes me more than 12 months to finish. But as long as I manage to buckle down and write, write, write, I should be OK. And I have a plan for how I will manage to get those 80,000 written up, so that should help to keep me on track.
If I have done the sums correctly (and if I find a job by the slightly extended time frame I gave myself) I should be able to manage without further financial help. And I should be able to do it all without too many financial sacrifices on my quality of life. Of course, this is largely because my lifestyle is already one of (voluntary) frugality: I find great pleasure in saving money and reducing my spending!
And despite my income ending today, I should have a bit of money left in savings by the time I get a job—if I get a job—which means I won’t go further into debt. (I still have a small personal loan that helped me to bridge the gap between starting my PhD and getting my first stipend payment. And then there are those pesky American student loans from my undergraduate days that will follow me to my deathbed! But I digress…)
Anyhow, this post isn’t a plea for help or a poor-me tale hoping for pity. Instead, it is another illustration to show that I am moving a little bit closer to achieving my PhD Dreams. After all, the end of the stipend means I am officially in writing up mode. And writing up is the key to completing the thesis and graduating!
So the buck stops here and it stops with me. And that means the responsibility for completing my PhD is mine and mine alone. (Though I know I will have the support of my PhD supervisors, family, and friends along the way, too!)
Wish me luck!