Personal Finance for PhDs

Hosted by Emily Roberts

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Episodes

100

Latest episode

May 2026

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About the show

As a PhD (in training), you face unique money challenges that stem from your low stipend/salary during your years of graduate school and postdoc training. Listen here for the hard-won financial wisdom of your fellow graduate students, postdocs, and PhDs with Real Jobs. From budgeting and frugality to investing and debt repayment, this podcast is your higher education in personal finance.

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June 16, 2026Episode 138 min

How to Save Money as a Funded Graduate Student

In this episode, Emily explores how to save money as a funded graduate student so that you aren't in a constant state of financial stress. The first step is to open a savings account and establish a regular savings rate, even if it's only $5 per month. Second, you must either increase your income or decrease your expenses. Both may seem impossible in your current circumstances, but Emily introduces numerous accessible options that grad students have used in the past for each approach, including the unique opportunities available to you as a graduate student.

May 18, 2026Episode 1043 min

How This PhD Solopreneur Manages Her Time and Money

In this episode, Emily interviews Dr. Leslie Wang, the professor-turned-solopreneur behind Your Words Unleashed and repeat podcast guest. Leslie works as a developmental editor and career coach primarily for academics. Leslie and Emily discuss in detail how Leslie manages her time and money, balancing the appointments and payment schedules of approximately three dozen clients throughout the year. Leslie has molded her business to fit the life she wants to live, including frequent travel and personal and familial pursuits.

May 4, 2026Episode 939 min

Sacrificing for a Lofty Financial Goal on a Grad Student Stipend

In this episode, Emily interviews Dr. Jed Kim, a recent PhD graduate in chemistry from the University of Wisconsin at Madison. Jed built a $35,000 Roth IRA by the time he finished his PhD due to consistent $500 per month contributions. Jed and Emily discuss what it took financially to maintain that savings rate, from applying for fellowships and bank bonuses to sharing food with multiple roommates to engaging in free and low-cost activities. Jed speaks openly about how spending too little at times hampered his mental health and how a family emergency caused him to rethink his approach. This interview illustrates the trade-offs graduate students have to navigate when striving to make the PhD less of a financial liability.

April 20, 2026Episode 839 min

Holding a Financial Standard While on the Faculty Job Market

In this episode, Emily interviews Dr. Dillon Pruett, an assistant professor in the School of Communication Science and Disorders at Florida State University. This is the second part of a two-part interview in which we discuss Dillon's turbulent faculty job search and transition to a faculty position. A higher income doesn't completely ameliorate all financial challenges, but the future is looking bright. Dillon's candor during this conversation is laudable, and his experiences are likely to be both relatable and a cautionary tale for prospective and new faculty members.

April 6, 2026Episode 749 min

Financial Chaos Exacerbates a Low Graduate Student Stipend

In this episode, Emily interviews Dr. Dillon Pruett, an assistant professor in the School of Communication Science and Disorders at Florida State University. This is the first part of a two-part interview in which we discuss Dillon's financial journey through his PhD and postdoc at Vanderbilt University. Dillon tried to keep his eyes on his own financial paper, but the pay disparity between himself and other graduate students and postdocs was repeatedly brought to his attention. Still, he managed to make it through without accumulating debt and even building modest assets, despite financial setbacks. Dillon's candor during this conversation is laudable, and his experiences are likely to be both relatable and a cautionary tale for prospective and early graduate students.

March 23, 2026Episode 649 min

Teaching Personal Finance Illuminates the Opportunity Cost of a PhD

In this episode, Emily interviews Dr. Trevor Hedberg, an assistant professor of practice at the University of Arizona who teaches a seminar on personal finance to undergrad students based on Morgan Housel's The Psychology of Money. Trevor is a repeat podcast guest, and he shares how teaching the course has made him think differently about finances during his PhD and postdoc, including the financial opportunity cost of grad school and lifetime wealth killers.

March 9, 2026Episode 545 min

This International Grad Student's Low Fixed Expenses Enable Her to Invest and Travel

In this episode, Emily interviews Mrunal Zambre, a 4th-year international PhD student at the University of Pittsburgh. Mrunal details her money management system, from her checking and savings accounts to credit cards, and how she and her grad student partner split expenses. She focuses on travel credit cards and the Bilt card to reduce the cost of international travel. Thanks to her stipend—recently increased to over $40k—and low fixed expenses, Mrunal maxes out her Roth IRA annually and invests in a taxable brokerage account, even though she's not sure if she'll live in the US long-term.

February 23, 2026Episode 439 min

Tax-Advantaged Retirement Account Options in Higher Ed and K-12

In this episode, Emily interviews Dr. Daren Card, a computational biochemist working in industry. Daren and his wife moved to Arlington, TX for his PhD and then Boston, MA for his postdoc, and she held K-12 teaching positions in both cities. He shares their financial journey, from managing their student loan debt through opening and funding IRAs. Daren and Emily discuss the tax-advantaged retirement account options available, such as 403(b)s, 457s, and 401(k)s, and how to spot red flags in your employer-sponsored plans.

February 9, 2026Episode 336 min

This Grad Student Bought a Home at the Start of His Doctoral Program

In this episode, Emily interviews Ethan Muller, a first-year doctoral student in theology at Villanova University. Ethan and his wife purchased their first home outside of Philadelphia at the start of his six-year program. Ethan shares the details of his and his wife's financial profile, their emotional readiness to become homeowners, and their plans for the home once he finishes his program. After local mortgage lenders were unable to work with him due to his student status and 9-month stipend, Ethan connected with Sam Hogan, who knew exactly how to make the lending process much faster and easier. Ethan and Emily close the conversation by discussing which other PhD students should consider home ownership.

January 26, 2026Episode 233 min

This Grad Student Experiences Financial Ease Thanks to Her Side Hustles

In this episode, Emily interviews Nashae Prout, a 5th-year PhD candidate in toxicology at the University of Rochester. Nashae's first year of graduate school on a $28,000 stipend was financially challenging, so she now maintains two side hustles. She serves as a graduate community assistant for graduate housing, an up to 10 hour per week position that gives her a 55% reduction in rent. She also adjuncts for a nearby university with the support of her PI. Between these two side hustles and her disposition toward frugality, Nashae can comfortably max out her Roth IRA and spend in areas that matter to her, experiencing financial ease. She concludes the interview with excellent advice on time management and prioritization.