Awesome, Michael! Congrats 🎉

@mttfinance

Жыл бұрын

Thank you for the support!

Sorry for the errors in my post. I tried to change but wasn’t able to.

@mttfinance

Жыл бұрын

I dont see any other comment hahah

Your consistency has been very impressive - great work! Also, I’m loving the few changes you have made to this spreadsheet 😊

@mttfinance

Жыл бұрын

Tbh the consistency actually makes filming these easier haha 😂 it's when I have to do something different that makes this all a challenge. Thanks for the spreadsheet compliment!

just a thought bout your mortgage. it’s not paying twice a month but every other week to get more payments throughout the year.

@mttfinance

Жыл бұрын

Ah I figured I said it wrong. Only ever heard of that strategy once before

Setting aside a set amount (paying yourself first) towards the student loans has really added up! Awesome

@mttfinance

Жыл бұрын

Oh yes it has has! April of 2022 is when I started doing 3k a month

Mortgage companies do their annual escrow analysis in January typically. If your mortgage payment went up, it is likely either your homeowners policy or your property taxes increased. Check that first.

@mttfinance

Жыл бұрын

The actual monthly payment went down 👇 but the total loan amount went up. I think it's just the interest from having a month off of payments

I would wait until they say I have to pay for the student loans and if they forgive your loans then I would keep the money. I hope that makes sense ❤️

@mttfinance

Жыл бұрын

Oh i plan to wait until I know for certain if they will be due again. And if some gets forgiven and I have enough to cover then ill definitely keep it!

My 401k lost money last month, so you did not miss out on much during the transition :)

@mttfinance

Жыл бұрын

Well at least that's some consolation

Hi! I'm new here and I'm also a new grad OT. I have almost 170k in debt combined from undergrad and grad 😶. 1st Question: I heard a lot of people with a large amount of student debt are blocked from taking out a mortgage. How did you manage to buy a home on top of having so much student debt? 2nd question: Do you have any advice for a new grad OT? What advice would you give your younger self if you could, especially in terms of finances?

@mttfinance

Жыл бұрын

Hey a fellow OT! NICE! So idk if you're automatically blocked from a mortgage loan if you have high amounts of debt. For me it depended on my debt payments. Like what my monthly payments to income were when I applied. I refinanced my private loans I had at the time to show to the bank my income was "high enough" to cover a 140k$ house 🏡 In regards to new grad ot, I guess I would suggest working per diem earlier (in addition to full time) if it's fees able. With my home care ot job (which allows me to customize my schedule) taking on a per diem position with the county for working with kids has been quite seemless. Though a learning process. I've increased my monthly income by average 1500 a month which has IMMENSELY helped with paying off debt fast.

@mttfinance

Жыл бұрын

Just to add alittle to my last comment. For me I was fearful coming out of school to take on alot of work at once which makes sense... I was still learning how to be a new ot in one job and would have been overwhelmed. But I don't think I needed to wait 4 years post graduation to do the per deim role. I was approached about it my 2nd year out from graduation and turned it down.. Thankfully the opportunity came up again last year for me.

@Aqua-tx9jy

Жыл бұрын

@@mttfinance Thanks for the response! Yes, I just started working and I feel way too overwhelmed to pick something else right now. I work in a school setting, and while there are shorter hours I feel like there's of paperwork/reports. I'm hoping in a few months I can pick up another job or maybe even a different setting where I'm not taking as much work home with me.

@mttfinance

Жыл бұрын

Yeah settings do make a difference.. Both positions I work at have very (I think) minimal paperwork

Hey Micheal, how old are you to have accumulated this net worth!?

@mttfinance

Жыл бұрын

Im 28.... It could have been higher if not for the high amounts of debt

@PeanutButter123

Жыл бұрын

@@mttfinance I have a new excel yearly budget template with a dashboard and net worth statement to help track your expenses/income on Etsy for $15 if you see it fit on your financial journey. Trying it as a side hustle of my own. Happy to assist as well if you have questions/concerns after purchase. Have a good one