Hey guys! I was accepted into a PhD program. I will have an annual stipend of $33,000 dollars (minus taxes). I'll be an international student, and this is my first time living and managing my finances alone.
If I'm being honest, I don't want to have roommates. One of the most appealing reasons to study away from home is living alone. However, I don't know if I'm making a bad financial choice.
I'm planning to sign a 1 year lease for an apartment for myself for $1,100 (I still need to pay for electricity and internet). I'm planning to cook and not going out frequently, and to be really careful with my expenses.
Do you think living alone is affordable/a good financial decision? Or should I live with someone else and pay half of this price for rent?
*I forgot to mention I will be living in Lafayette, Indiana. I also studied in my home country so I don't have any debts, and I'm not married, nor do I have kids or other dependants.