Monday, February 26, 2007

February Update…

Sorry for the lack of posts. I am feeling a little frustrated with my job search and finances so I didn’t even want to think about money or the current state of my ever declining net worth.

I still haven’t filed my taxes. So, I will do that some time in the next 2 weeks. I’ve been preparing my bar application and I still have to pay $750 for the exam and $2,500 for the prep program. I am hoping my tax return will cover the prep course.

Using Quicken is going well. I am a little frustrated that some of my credit cards don’t download my transactions daily but rather once a statement is posted. Oh well, I am at least glad that I don’t have to manually enter in my transactions.

I will be posting my monthly recap in the next few days. Just trying to tie up some loose ends. =)

Monday, February 05, 2007

January 2007 Financial Recap…

  • I paid my last tuition bill for law school to the tune of approximately $7300. Books cost $500.
  • I transferred excess loan funds into my WaMu high yield savings account, which now serves as my emergency fund. (I just received my bonus and this figure now stands at $13k).
  • I adjusted the amount for my pension as a result of another year of service. Going forward, I will adjust this figure monthly.
  • My 401k performed well. It is a pretty balanced portfolio. (I should break this down one day)
  • Debt kills…The giant $19k increase are my new student loan disbursements. $9k of which is in my savings account.
  • Interest on my student loans continues to capitalize. Repayment on my federal loans begins in June and repayment on private loans begins in January 2008.
    I paid off all my Christmas damage.
  • Net worth took a tumble but from here on out, there should be no major expenses of this magnitude going forward.

Expenses to come…

  • Sister’s wedding to Cancun: Total cost for the trip will be $1700 for a week. I paid the $400 deposit on Friday. This is part my sister’s wedding (3 days) and part my celebration from graduating from law school and taking the bar exam (4 days).
  • Bar Exam Fees: $4,300 for the actual exam and prep courses (Final amount due by April 15th).
  • May trip to LA for a friend’s wedding: total cost $500. I will be saving this money each month.

Debt and Income to come…

  • I am waiting for $1300 in tuition reimbursement for the Fall semester.
  • 2006 tax return -- I am not sure how much this will be.
  • In June, I should receive another $5800 in tuition reimbursement from my Spring semester.
  • I will take out a $15,000 bar loan to pay for my bar exam fees and any additional bar expenses for the summer as I study. Excess funds will be funneled into my WaMu Savings account.

Thursday, February 01, 2007

Blog List Updated…

I updated my blog list. There were quite a few blogs that I used to read where the bloggers stopped posting for some reason. I read quite a few PFBlogs and may have missed one or two. If you have a blog that you want me to check out, please leave a comment and let me know.

Thanks for reading!!!

Job Search Update and Networking…

As many of you know, I will be graduating from law school in May. Since I am a full-time employee and part-time student, I did not have the benefit of becoming a summer associate. Many top/large law firms hire from their summer programs and there may be opportunities for lateral candidates but the positions generally require a specific amount of direct legal experience.

Since last August, I have been interviewing and networking to find a law position for the Fall. I’ve met with Judges, partners at law firms and associates. I even spoke to other attorneys in non-traditional legal environments, such as investment banking firms. It’s been an amazing experience and I love the chance to meet new people and make lasting contacts.

It’s my hope that through networking, when a position becomes available, someone will keep me in mind and refer me for the position. While networking is time consuming, I can only appreciate these people for taking time out of their busy days to lend me a helping hand. Once I become an attorney and I get into a position where I can reach back and help other new attorneys, I will be delighted to help because I will remember the grind of these days for the rest of my life.

Nothing you want generally comes easy. You have to work hard and not be afraid to ask for help.