Can I make it in Bangkok for 30,000 Baht a month?

Im attending Le Cordon Bleu Dusit in BKK in January 2010. I have been to been to Thailand 3 times in the past 5 years. I can speak enough Thai to oder food, get a smile and sometimes a deal. Most of the "cost of living" posts I have read say that a minimum of 40-50,000 baht a month. Im happy watching TV at home, taking the bus & eating on the street. My budget looks like its going to be around 30,000 bht a month. I Just want a safe place in a good area. Am I setting my self up for a poor and hard 10 months or just a quiet "thai style" life?