Net Worth: 71,800
Checking: 1,000
Savings: 40,500
403(b): 54,500
IRA: 19,800
Student Loans: 44,000
As of July 2023, I am worth $71,800. Since my last update at the turn of the New Year, I received a nice bonus at work, which allowed me to max out my 403(b) for this year. I started saving 2,500 a month in an online high yield savings account with the goal of having cash free for a down payment.
I got pre-approved for a loan, but the market remains hot, and Sharon and I haven’t been able to find anything suitable. Currently, we are torn between trying to find our dream home at the risk of becoming “house poor”, or buying a starter home at the risk of overpaying for something we won’t stay in.
My growing savings account allows me the opportunity to pay off loans quickly. Once student loan payments resume, I plan to tackle all my loans >5%. I will likely leave some loans to accrue small amounts of interest that way I can utilize my freed up cash should a good opportunity arise.
Another thing weighing on these decisions is our upcoming wedding next summer. There is a hefty chunk of change due for that. The process of saving money is like watching paint dry. Knowing that my three major upcoming expenses (down payment, wedding, loan payoff) are all worth tens of thousands of dollars makes me a bit uneasy.
I wish I could say after these three it is smooth sailing, but these 2 years out of school have taught me there is always one more thing to spend money on.
