This PhD student makes $40,160 a year. How does she spend it?

Who: Jessica Gosio, 29 What she does: She’s a PhD student at U of T, completing research at a major hospital What she makes: $40,160 a year Where she lives: A one-bedroom rental on Hospital Row

Regular Expenses

Rent: $1,150 a month. “I’m lucky because my parents subsidize my rent and phone as long as I’m a student.”

Transit: $180 a month. “I live near the hospital where I work, so I walk a lot. I mostly spend on ride shares and the GO train I take to visit my parents in York Region.”

Groceries: $250 a month. “My closest grocery store is Longo’s, but I make the trek to Lucky Moose in Chinatown for cheaper produce.”

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Going out: $500 a month. “I’ll eat out about three times a month and go for drinks maybe twice a month. It’s gotten so expensive lately, especially downtown.”   Takeout: $200 a month. “I try to meal-prep for the week, but with 10-to-12-hour workdays, I often don’t have time.”   Alcohol: $50 a month. “That’s mostly for bottles to bring to parties or friends’ places. I don’t keep alcohol in my apartment—it’s too expensive.”   Coffee: $160 a month. “This one really surprised me when I checked my receipts. I’m switching to homemade matcha beverages to save money. I just bought a giant bag of matcha powder.”

Fitness: $80 a month. “I just started Muay Thai classes. I sit so much at work that I wanted to challenge myself physically.”

Savings: $1,000 a month. “The stipend for my research went up from $37,000 to $40,160 this year, so I have some extra cash to sock away.”

Recent Splurges

Trip to Portugal: $3,500. “The tickets were part of a last-minute Black Friday sale. It was my first time travelling solo, and I completely recommend it.”

Weddings: $500. “It seems like all my friends are getting married, so I’ve started saving for travel and gifts to attend their weddings. I went to three in 2023 and have three more coming up this year.”