FIRE Update 8: January

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We’re already well into January, 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. I am still keeping up, even if life is a bit overwhelming at the moment!

What happened this month?

Christmas happened! It was great seeing my family and I enjoyed the time there, but I also still have tons of studying and work to do, as the exams are just around the corner. So the grind is still on, but I am staying optimistic. Better to focus on my studies than worrying too much about my applications for further study. Lol.

Savings

My general/apartment savings are currently $6,270.
I have done some calculations concerning the next year of my life. My primary objective is to have a sufficient safety net that would cover living costs during a Master’s degree, and still have money leftover for a deposit and moving costs. My goal is, therefore, to have $8,250 in that account, and then I’ve decided to focus somewhere else. I want to build up a travel fund and my investments further, and then pay down debt a bit more aggressively. I’ve written some smaller goals along the way that I am working towards.

Investments

My current investments are $5,200 out of my $33,000 goal.
My net worth is $-48,000.

Debt repayment

My current tuition fee debt is $56,634.

Books I’ve read and texts I’ve written

All I am reading for now is just academic stuff. 😦

Goals for next month

My goal is to survive exams and deadlines. I am also pulling out a bit more from my closet and shoes to sell (it is highly addictive once you get going), so I will not have as much of an overflow as before. Since I know I am moving in six months, I know I need to downsize as much as possible.

How is your January going, and how did December go? Do you have any goals?

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