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.

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