Hey! I’ve decided to start posting updates on how my finances have been on a monthly basis because 1) I finally got a job which allows me to 2) make some good progress on my financial goals and take steps toward FI.

I graduated from my masters program this summer after taking on a lot of debt and finally got started on loan repayments and setting up the foundations of my new life.

Due to ridiculous interest rates that keep rising because of inflation, COVID disruptions, and the ongoing war between Russia and Ukraine, paying off my student loans is my number 1 priority, then I will be focusing on building up our emergency fund and then investing our assets. For now, here’s where we are at as of August 2022:

Income$7,400Received my bonus this month, hence the large income amount
Assets$8,600Most of these are in cash
Debts$44,300Combined student loans
Net worth($34,700)

For some context where I’m coming from, I took out around $70,000 in loans in 2020 and had 0 assets and income since I was a full-time student. So to actually progress in loan payments was an awesome feeling!

Another thing I’m struggling with is the tracking of separate/combined finances. I’m tracking my own personal income and assets but also tracking combined expenses and debts. We keep parts of our income separate and have a combined account for shared expenses.

Hopefully this tracking will serve as motivation and a progress report for when I look back over the months/years.

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