FIRE Update 14: November

We have arrived in November, 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 AWOL again. Yes, yes, you can probably find many blog posts here about how I am desperately trying to get back into the swing of things. Truth is, I’ve been burnt out, overwhelmed with work and university, and just trying to keep my head above water. However, I have implemented some new time management strategies that will hopefully pay off. And practising getting up earlier, haha.

Also, I’ve invested in Sherry’s budgeting tool, which will hopefully provide some nice graphs for each month. I’ve only just started it, so once we hit December, I’ll have some better visuals and overviews of spending, saving and paying off debt.

Savings

My current general savings are $156.
My travel and luxury savings are $485.

WTF happening to my savings, you might think? Well, I do technically have a large chunk more, but most is saved for taxes and tuition fees. So that means that the “general savings” are my actual savings that I do not plan on touching. It is my cushion and FU money. So yeah, not much, but it is a start. In terms of luxury and travel, I am saving up for flight tickets for Christmas and Christmas presents. I am still working freelance to pad that some extra.

Spending

I’ll provide visual overviews starting from next month!

Investments

My current investments are $7,529 out of my $33,000 goal (22,8%)
My net worth is -$58,200

Yep, my net worth also took a dip thanks to the student loans. However, I have continued to contribute a little to my investments each month (I have time on my side + it is automated so I don’t even think about it) and I am happy to see that I’ll be hitting my first milestone soon. Once I have demolished my expensive tuition fee loan, I’ll definitely amp up this category.

Debt repayment

My current tuition fee debt is $75,010 (when I last calculated it).
I paid off $2,030 so far this month. There is $28,116 remaining on the first loan.

I’ve started my postgrad, so that number just skyrocketed. However, I am getting a very favourable interest rate on the majority of the loan (less than inflation), so right now I am focused on paying down the more expensive UK tuition fee loan – and I am doing that semi-aggressively (especially given my income level as a student).

Goals for next month

November is a spendy month since I’ll have to book flights, Christmas presents and similar. However, I am expecting some money to flow back to me because of returns, travel compensation and similar, so I’m staying positive. Otherwise, I am staying focused on my work – that’s also the best strategy to avoid overspending and shopping, haha.

You may also like

Leave a Reply