FIRE Update 2: May(hem)

We are at the end of May and that means that the paycheck has rolled in, the investments are transferring and I have to look through my finances anyway. It is the perfect time to review my journey and just keep myself accountable.

What happened this month?

I’ve been very busy, which has resulted in a nice paycheck and some additional income by selling clothes on eBay. It is nice to clear out my closet and I have realised that I have never regretted selling any of my clothes. I also did cave into some internet shopping, more than what I should have, but overall things have been OK. I am getting better, which is great! I think I will do a lot better here in June since I will be going back home and cannot be bothered to drag new clothes with me once I return.

The extra loan scheme has been extended by my home country so I am taking out the maximum amount to pay off the more expensive tuition fee loan and has shuffled some things around for the money I owe myself (lol). This has made my net worth go further into the negative zone, but since I still calculating with a full tuition fee loan, there will be a big shift once I am done studying and then I have (hopefully) saved a good amount of interest on my loans. It still feels a bit discouraging here and now, but I am trying to just focus on seeing my savings and investments go up.

Savings

My general/apartment savings are currently $3,596.
I am saving up for my internship in Brussels in September (hopefully it doesn’t get ruined by Corona). My goal is $1,500 and I have saved up $872.

Investments

My current investments are $3,080 out of my $33,000 goal.
My net worth is $-41,260.

Debt repayment

My current tuition fee debt is $45,356.
I owe myself $1,045.

Books I’ve read and texts I’ve written

I have been making a post or two on the blog, and I have some more planned. It helps me get my “writing mojo” back again.
I’ve read the Kremlin school of negotiation and some selected works by Cicero. The former was a really interesting read when it comes to business negotiations, and quite relevant for the field I want to work in, while Cicero was… alright. I’ll allow myself to buy a new book about lobbying if it can get here in time. I am also starting on The Great CEO Within and Think and Grow Rich since I found free pdfs of those books.

Goals for next month

I have to pause eBay selling quite soon since I will be visiting my home country, so I am trying to get the last bits sold as soon as possible. I expect to save a lot on food and try to bike around as much as possible so my transport budget doesn’t go through the roof.
I will continue to track how much extra money I can put towards savings and investments this month (above my minimum transfers), and hopefully, I can beat the previous month. My main focus for this month is first to ramp up my Brussels savings account, and then to pay off some extra debt.

How did your May go? Do you have any goals?

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