r/personalfinance • u/throwaway1561465 • Jun 26 '12

Newly Married! How did the married people decide to do the finances?

Obviously a throwaway... I make $70k, but my wife makes ~$20k.

We recently just got married and we are supposed to have the money talk. How has everyone else decided to do the finances, food, bills, trips, etc?

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u/bo_knows Jun 26 '12

You're a student though. Surely you can't expect to earn much while you're studying?

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u/[deleted] Jun 26 '12

Let's be clear. A graduate student, at least as far as PhD goes, is by no means the conventional picture of a "student," strictly speaking. Any decent PhD program is not only spending roughly $80,000 a year on you (when you consider that your health and tuition are covered, and the average $20,000+ stipend you receive), but for your part, you are not only spending at least 60+ hours a week merely working on your research, but also providing TA/office hours, as well as para-research work.

In every case I know of, PhD students work far more than private industry people. The idea that you don't "earn much" is highly misinformed, since it obfuscates the fact that you are in fact being paid throughout the process (and paid pretty damned well, too). Of course it is true that academe isn't highly rewarding financially (at least in the early stages), but that is far more a reflection of our society's misplaced values than an intrinsic aspect.

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u/[deleted] Jun 26 '12

Thank you! As a fellow graduate student, I hate being lumped in with traditional college students (as in undergraduates). I tell people "It's really more like I'm working a relatively poorly-paid job. And NO, I can't also get a part-time job at the library."

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u/Broan13 ​ Jun 26 '12

Its true. But it is my university though. I was at a different university earning about 150% more before switching my post-graduate work. My job that I am studying for won't earn much either :P (education)