I am running behind with starting my weekly roundups. I am starting this series because I want to document information that I have learned, changes that I have made, and things I am loving . It is a good way to see how I am growing and my thought process over time. Also, it allows you to see how another millennial is navigating their day to day in different areas of our life.
I am really excited about this because it will be a mini-version of a diary summarizing things I have done over the week.
1. I decided to continue contributing to my 401k
Last week, I submitted a request to stop my contributions to my 401k, so I could use the $300 a month to help pay off my student loans as quickly as possible.
However, not even a week later, I changed my mind before it could go into effect. I saw this Instagram post saying “I am not stopping contributing to my 401k just to pay it off 15 minutes earlier”. That resonated with me because stopping my contributions to my 401k right now will not help me pay them off substantially early. Also, the time I have my money invested in the stock market allows it to grow more due to compounding.
I currently owe $14,825.29 (as of 10/27/2021) in federal student loans. These loans are currently in forbearance until 03/2022. This will allow me time to get them paid down without interest. I just got a part-time job and I have a $3,900 grant to apply to that balance. By March 2022, I want to have the loan balance to $5,000. I haven’t figured out a plan to get to that level yet but I am going to get there without stopping my contributions.
Quick Facts
What is a 401k? A 401k is an employer-sponsored retirement plan. In many cases, an employer will match a portion of your contribution to this account. If you have this option and it makes financial sense for you think about contributing to your 401k at least up to the employer match.
More info: https://www.irs.gov/retirement-plans/401k-plans
2. Read Intelligent Investor
This week we are going to push through and finish reading the Intelligent Investor by Benjamin Graham. I am trying to learn all I can about the stock market. Right now, I only contribute to my retirement account but once I get my student loans paid off I plan to start investing in index funds and individual stocks. This book is about investing and has been coined to be one of the best investment books by Warren Buffet. It is a tough read because it is a lot of technical jargon but its going to be worth it once I complete it.
3. Drink more water
I just recently got a H2O water bottle from Amazon and it has been the most amazing thing with helping me to make sure I drink all the water that I need to. My goal is to drink a ½ gallon of water a day. With this bottle, I only need to drink 2 bottles of water and then my goal is completed. The thing I like about the bottle is that it has a time marker.
4. TV series I am Loving
- I started watching Master Chef, Queens, Our Kind of People, and La Brea on Hulu. I am really enjoying Our Kind of People. Its filled with family drama, address social class differences, and coming into your own.
This week I have found out that watching TV is really relaxing for me. I just need to turn out my electronics and enjoy the show.
I hope that you all were able to learn some things from what I shared or they gave you things to look into further. Also, please tell me what are some of your favorite tv shows to watch.