I hope Labor Day treated you well. I had a lovely long weekend with my boyfriend, full of enriching experiences. It's so wonderful to unplug and get closer to nature and your loved ones. We stayed at a retreat center, did yoga, ate good food we made, chased sunsets, drank prosecco in a hot tub under the stars, took photos, and basked in the sun. It felt very indulgent (and yet it didn't cost us much)!
Here's my September net worth update, for all the world to see! :)
| Assets | September | August | Difference | ||
| Cash | $14,789.63 | $12,550.18 | $2,239.45 | ||
| Investments | $36,588.63 | $35,522.84 | $1,065.79 | ||
| Total Assets | $51,378.26 | $48,073.02 | $3,305.24 | ||
| Liabilities | |||||
| Student Loans | $156,900.60 | $156,751.56 | $149.04 | ||
| Credit Cards | $2,681.35 | $1,629.23 | $1,052.12 | ||
| Total Liabilities | $159,581.95 | $158,380.79 | $1,201.16 | ||
| Total Net Worth | -$108,203.69 | -$110,307.77 | $2,104.08 | ||
| Student Loans | Amount Owed | Amount Paid Off | Interest Rate | Monthly Payment | Payoff Date/ $ Paid Toward Loans |
| Federal Loans | $118,694.66 | $5,000.00 | 5.75% | $1,093.65 | |
| Private Loan 1 | $11,344.15 | 5.00% | $0.00 | 3/7/2014 | |
| Private Loan 2 | $9,750.07 | 3.01% | $81.18 | ||
| Private Loan 3 | $11,368.91 | 3.21% | $84.77 | ||
| $10,749.01 | 3.71% | $0.00 | 4/16/2014 | ||
| $8,700.06 | 3.71% | $73.47 | |||
| $8,386.90 | 3.71% | $66.50 | |||
| $2,137.82 | 3.72% | $0.00 | 2/28/2014 | ||
| $2,123.74 | 3.72% | $0.00 | 2/28/2014 | ||
| Total | $156,900.60 | $31,354.72 | $1,399.57 | $36,953.00 |
We're up $2k this month, which I'm happy about. This month my plan is to ramp up my 401k contributions to reduce the amount of taxes I'll owe for 2014... Let's see how much we can stash away in there this month!
Debt repayment has been slowing down, as I'm trying to focus on increasing investments and making sure I have a healthy emergency fund. Once those are covered, I'll jump back in to paying down debt at full force. My dilemma is that the lower balance private loans have low interest rates and the higher balance has a higher interest rate but is a federal loan with tons of repayment options. Paying down the high balance loan will feel like drops in a bucket, so I'm also assessing what the best tactic is for me going forward. I also want to invest more, so there's a lot to consider. Over the next month I'll try to come up with a new and improved debt repayment/ personal finance strategy.
How was your Labor Day weekend?
Hi! I didn't know which blog post to comment on since I just read everything in one go today. I randomly stumbled onto yours on one of the many personal finance blogs I followed and I am so glad I did. Your path in life is where I feel I will end up in a few years time. I'm currently only 24 and I do plan on going to law school next year (I know, I know, I've heard the lectures about what a financially risky move this is, but I have my reasons.) This path does scare me and a lot of times I want to run with my tail between my legs. But it's so nice to see your journey and how despite the stress, you are managing and working with what you have and that I could possibly do the same. I just wanted to give a shout out, say hi, and let you know that you have a loyal follower in me. I cannot wait to see the next update on your progress. Just possibly a blog post idea, but perhaps you can write on what your reasons were for going to law school in the first place. Did you consider the financial obstacles at the very beginning? If so, what eventually made you think it was worth it? The money? Though, I did read that you do public interest work (or am I mistaken? This is what I want to do as well). Would you say it's still worth it now?
ReplyDelete(FYI, please ignore the link to my blogger account as it is very old. I am now writing on a brand new site of my own at tata-for-now.com)