Hi all. As a brief background: I'm a mid-twenties, FT worker that attends graduate school at night in the New England area. Additionally, I work a part-time job on the weekend. I graduate at the end of this year. Unfortunately, I chose a very antimustachian major which will likely not result in a substantial income increase upon graduation. At least, not immediately. I live with my SO who contributes half to the household. She is open to the ideas of mustachianism but isn't as eager as I am to start building for tommorrow.
Assets are as follows:
13k Cash
2k Car
5k Car
3k 401k plan after about 10 months investing the maximum amount that my employer matches.
Liabilities are as follows:
0k CC Debt (Pay it off at the end of every month)
0k Auto Loan (both cars were bought cash)
72k @ 6.8% Student Loan (With about another 10k coming this fall in order to finish my degree)
Here's my monthly income:
FT Job (after health insurance, 401(k), and taxes) $1,970
PT Job (under the table) $624
Total: $2594
Expenses:
My half of the Household Expenses $635.00. This includes:
Rent $355 (we share a studio/loft type apartment a 10 minute walk from the train station)
Internet $25 (no tv, just internet.)
Electricity $25
Food $120
Liquor $60
Eat Out $50
Train Pass $275.00
Cell Phone $43 (I use Straight-Talk's Unlimited Everything Plan of $45 per month and I purchase Wal-Mart Gift cards in advance off of Cardpool.com in order to save an additional 3%)
Gas to get to PT Job $25
Total: $978
Net Savings: $1616 or ~60% of my income.
My goals:
1. Pay off the student loans in 5 years or less so I can get on with my life.
2. Become FI by 40, preferably earlier.
3. Become FI with my own hard work, not any inheritances.
Things I already know:
1. Sell the cars. Working on that this summer.
2. The student loan debt is a giant, flaming emergency.
3. Send the cash to the student loans. I'm waiting until after I graduate/consolidate/deferment/etc.
4. Don't drink/eat out so much, if at all.
5. Republic wireless could lower the phone bill.
Things I am considering:
1. My SO and I moving to a nearby state with a more favorable income tax scheme and where my graduate major is in higher demand. Waiting for her to finish her degree as well.
I just wanted to see if anybody had any ideas for me. I'd like to think that I live pretty bare bones as it is. Obviously my personal budget spreadsheet is more complex with this, budgeting for items such as haircuts, shaving products, etc., but you should be able to get the gist of it with the above.
Thank you for any and all input.