Ahh! I’m writing this post as I am currently waiting for the keys to my new home! In a matter of hours, I will officially be a homeowner!

I’ll make a separate post on everything about my home-buying experience (spoiler alert: after my down payment went through, I’m sad to announce, I now have under $100k net worth).

It is bittersweet to say, this is the end of a chapter in my life and this will be the last month of my current budget set up. 

April Budget

I’m strangely excited for a redesign of my budget next month although I know that there will be a lot of increased expenses. But for now, let’s get started on this month’s farewell budget.

Fixed Spending

My parents and I agreed that I would postpone any monthly payments to them while I am in the midst of the home-buying process. I will instead continue to save up and resume payments once the home-buying process is complete.

Other than that, my cell phone bill and Netflix make up the rest of my fixed spending.

Variable Spending

Gas – Ugh! I barely even went anywhere this month. Gas prices are just outrageous.

Entertainment/dining out – Why is eating out so expensive? I don’t even remember going out to eat a lot this month. I must say, I did eat really well the few times I dined out so that must be it.

Groceries – Under budget because I’m trying to get rid of everything in my fridge before the move.

Shopping – Under budget. Just some Amazon goods.

Miscellaneous

Taxes – I can’t believe I owed so much in taxes in 2021. I’m hoping it was because I was working two jobs for part of 2021 and won’t happen again this year.

Dentist – don’t even get me started on what I think about healthcare costs in our country. I would have had to pay $63 just for a routine dental cleaning on this visit if not for the fact that I was going to a new dentist and received a $50 referral bonus on my first visit to offset part of the cost.

Travel – my best friend and I have been planning to go on vacation for the longest time! She’s been really stressed with work and I’ve been stressed partially with work and now the homebuying process so we’re planning a weeklong vacation at the end of May! 

At first I hesitated spending money on travel when I’ve just gone through the biggest expense of my life. But I remember that I promised myself I wouldn’t keep putting everything on hold for the “right” time.

Growing older made me realize just how fearful I’ve become the older I get. I know that if I don’t do the things that scare me now, I may never have the courage to pursue it in the future.

Savings

I am hoping to start beefing up my savings account again once I get a full idea of what my new monthly spending will be. Fortunately, I’m pretty much done funding my retirement and tax-advantage accounts for the year so any extra savings will just be going to my savings account or brokerage account.

Student Debt

Student debt paid this month: $880.77

Student debt remaining: $33,323.34

The unfortunate reality is that I will not be able to get rid of my remaining student loans before the start of my new home loan.

If you had asked me five years ago if I ever imagined taking on a mortgage without having paid off my student loans, it would have been a resounding no. 

But number wise, it just made more sense with my low interest rate to keep only paying the minimum payment on my private loan.

Looks like the forbearance has been extended yet again until the end of August so no payments to my federal loan until then.

My goal is still to pay this off prior to the end of forbearance to finally get rid of my Nelnet loan once and for all!

Net Worth Update

I don’t plan on doing a net worth update every month but I figured this one was a moment I couldn’t miss, my net worth going down by $100k+ in the blink of an eye.

This occurred right after my wire transfer for my down payment went through. It scares me that a huge chunk of my net worth is now a non-liquid asset in the form of a home.

I will probably calculate my home value into my net worth starting next month because I plan to also add my mortgage account into Personal Capital so I’ll need to have both to keep them balanced.

Goals for Next Month

Honestly, I don’t have any huge goals for next month. I’m just going to take it easy. Create a new budget for next month and try to not to procrastinate on getting my home furnished and cleaned up.