After the holiday shopping era, what an amazing feeling to receive a check for almost a thousand dollars! I’ve been urging you not to overlook those unclaimed funds. There might be a check waiting for you too. It came in handy for me—I managed to pay off my credit card balance and invest some.
I firmly believe it’s fine to enjoy a bit of your money. If you can afford it, don’t deprive yourself. I love using a portion for dollar-cost-averaging—it’s a fun way to approach investments.
I am sharing my 2024 expenses and first dividend income below, along with a screenshot of my student loan balance.
January 2024 Expenses
| Mortgage | $2000 |
| Groceries | $239.84 |
| Fuel | $65.11 |
| Restaurant | $276.46 |
| Travel/Tolls | $19.90 |
| Mobile Phone | $0 |
| Internet | $104.99 |
| Home Improvement | $426.91 |
| General Merchandise | $79.11 |
| Total | $3212.32 |
Loan Repayment
My hopes soared when the Biden-Harris administration announced plans to alleviate federal loan burdens by clearing up to twenty thousand dollars in federal student loan debt for eligible borrowers. At the time, my balance was slightly below ten thousand, and for a moment, I felt the thrill of being debt-free after decades. I stopped payments and redirected funds to my investment accounts.
However, the excitement was short-lived. The Supreme Court decided to vote against Biden’s loan forgiveness plan. Now that it’s time to repay, I see my initial 5% interest rate went from 0% for three years to 6.8%.
Undeterred, my goal is to pay it off as swiftly as possible—hopefully within the next three years. I’m hoping to pay them back in two years, but after carefully planning, I’ll need some extra income. The journey to financial freedom continues!
Dividends for January 2024
| Months | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| Div Income | $37.46 |
In Conclusion
It’s evident that responsible budgeting plays a crucial role in financial well-being. Despite setbacks in federal loan plans, my determination to pay off the balance within the next two years remains steadfast. The journey towards financial freedom persists, with valuable lessons learned along the way. Here’s to continued growth and fiscal resilience!
