There’s no feeling quite like seeing that first paycheck hit your account—years of hard work finally paying off, transforming your effort from an ever-growing student loan balance into something that actually feels tangible. Now that I’m earning about $6,000 per month, after taxes and retirement contributions, I’m using this season of life to make intentional choices—paying off private student loans early, building savings, and still enjoying this era.
Of note, one of the best decisions I made as a new Physician Assistant was choosing to live at home. It gave me the financial breathing room to take the “adulting” path a little slower and avoid unnecessary financial stress. Although it’s not an option for everyone, finding ways to scale back housing expenses—even temporarily—can make the financial balancing act feel far more manageable as you get your footing.
Here’s how I break down my monthly spending.
Fixed Essentials
Groceries — $500
Even though I’m at home, I cover my own groceries. I meal prep most weeks, cook at home often, and always pack my own meals for work. It keeps costs manageable and health on track during long shifts.
Phone Service — $90
Gas — $120
Quick commutes and a small car make this expense easy to manage.
Personal Spending
Personal Maintenance — $100
This includes nail appointments, haircuts, facials, etc. Any service that I use to keep me feeling my best.
Self-Care- $75
A category for personal hygiene products, skincare, and makeup.
Clothes- $200
I budget a modest amount for clothes each month. I’m not a big shopper, but I love hunting for unique pieces through vintage and consignment shops. This way, I refresh my wardrobe sustainably without overspending.
Social (food & drink/activities) — $500
Money is meant to be enjoyed. I try new restaurants, go out with friends, and participate in social activities guilt-free. This category also covers hobbies.
Subscriptions- $50
This includes my gym membership and extra storage on my phone
Gifts- $50-$100
I also set aside $50–$100 each month for gifts. Birthdays, holidays, and special occasions always seem to sneak up, so having a small “gifting fund” helps me stay prepared without throwing off my budget. This also covers small acts of kindness—like treating a friend to coffee or surprising a family member with flowers—making generosity feel thoughtful rather than stressful.
Financial Goals
After covering fixed and personal expenses, I allocate remaining funds toward my financial goals. This system gives me flexibility while staying on track.
Private Student Loans — $500-$1000
Here’s where I’m being aggressive. I currently owe $0 on my private loans because I’ve been paying them down early—even though repayment doesn’t officially begin until 2026.
Why?
- Tackling them now saves future interest
- I want future-me to enjoy the benefit of fewer bills
- It builds momentum and financial confidence
Public Student Loans- $0
I’m currently enrolled in an income-driven repayment plan with the intention of pursuing PSLF. My payment is $0 for now, but once repayment resumes in 2026, it’s expected to be around $450 per month. Knowing that this added expense is on the horizon is a major motivator for me to put as much as possible toward my private loans now, while I still have the extra cash flow to do it.
New Car- $1500-2000
I’m saving for a down payment on a car to avoid future high monthly payments. My current hand-me-down car from my parents is fully paid off, and they cover insurance for now.
Emergency Fund- $1200
I automatically route 20% of every paycheck (~$600 biweekly) into a high-yield savings account (~3.5% APY). This builds a cushion for unexpected expenses and helps me aim for 3–6 months of living costs (~$5,000 minimum)
Other Savings Buckets: $500-$700
I contribute to dedicated savings buckets for travel, holidays, and larger personal purchases. Right now, I’m focused on a trip planned for early next year.
At some point in the next 6-9 months, I’ll also start saving for moving costs, but for now, my top priorities are aggressively paying down my private loans and building a fund for a new car. Once those goals are on track, I can shift more focus toward the costs of relocating without feeling stretched thin.
Personal Brokerage Account- $250-400
I contribute a variable amount each month—depending on how much wiggle room I have in my budget—to a personal brokerage account. The goal is to steadily build investments well before retirement. My strategy centers on diversified, moderate-risk options, including index funds and other broad-market categories that offer strong long-term growth potential. By investing consistently over time, I’m taking a disciplined approach to building wealth and setting myself up for a more comfortable financial future.
Disclaimer: This post is for informational purposes only and is not financial advice. Always do your own research or consult a professional before making investment decisions.
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