I think grad school is more about building the knowledge/experience bank than the money bank. It's also a great time to build frugal muscles because everyone is poor and you don't have time for frivolous pursuits like lounging around over spendy dinners. So financially, the biggest thing I would think about is trying to avoid the credit-card debt that builds up when you are exhausted and overextended--make sure you have cheap staples around so you aren't tempted to grab takeout when you get out of the lab at 11 PM, etc. Also, universities often have tons of discounts and freebies--my grad school had an ice rink where students could skate for free when the hockey team wasn't practicing, for instance. This may sound weird, but it might also be worth researching on-campus grad student housing even though people think of it as more expensive. I lived on campus my first two years (then was in a program based off-campus, with no housing nearby, so rented a place.) The cost was a little higher out of pocket, but not having to drive, provide furnishings, pay to socialize (ie, I didn't have to make social plans, I always had people to hang out with in the residence) ended up costing me less than being off-campus--I didn't have a meal plan. Plus the college had grad students and international students (who are often older) sharing the same residence so I met some fascinating people.