FIRE Update 13: August

We have arrived in August, and that means that the paycheck has rolled in, the investments are transferring and we can take stock of how the month went. It is the perfect time to review my journey and just keep myself accountable.

What happened this month?

I’ve been working like crazy, especially since BOTH of my holidays were cancelled due to covid. So far, it has not been the best summer, but I am going back to my home country next week, and I hope all the extra work hours will pay off come September. I am looking forward to catching up with friends and family, eat food for free (lol), and have something that can resemble an actual holiday. I’ve also had some luck with eBay and Vestiaire Collective, where I am expecting some money to trickle in soon. Overall, I am very positive about the next few months, even if I am in a tight spot right now.

Savings

My current general savings are $9,066.

My travel and luxury savings are $103.

I have to dip a bit into my savings to make up for the missing $1,721 in state grants, and moving into a place with practically no furniture or kitchen stuff has also proved to be expensive. However, it is true that splitting costs with a partner help lessen the burden, so I hope to bounce back soon. The more I save now, the less I need to loan to cover my tuition for the coming academic year.

There’s also not a lot of luxury in the luxury savings account at the moment – I’ve had to pay for tests before flying, and I expect to use the remaining money for birthday presents and celebrating my own birthday with friends. However, I do feel prepared for these extra expenses, since my freelancing gig is going pretty smoothly. Hopefully, it will help cover the rest.

Spending

I have tracked my spending generally but deleted the sheet before I realised I had to post a number here. Whoops. I promise I’ll do better next month. I can tell you, however, that the number is probably super high…

Investments

My current investments are $6,966 out of my $33,000 goal (21%)
My net worth is -$25,900

Debt repayment

My current tuition fee debt is $54,800. (when I last calculated it).

Goals for next month

I plan to relax and try being sensible about my upcoming holidays. I will be saving on general food costs, but I imagine that transport and eating out will go up significantly. I’ll just take things as they come and try to prepare as much as possible for the trip, so I have enough funds to get by.

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