Favorite Financial Podcasts right now

So, I have been on a journey to Financial Independence (FI) for 2 years but I have not made much progress, some people in the community may say that I am not trying hard enough. Which is fair , even though the topic of finance is a personal subject and I am making it somewhat public, which means I have to accept that every once in a while someone may not like what I have to say.

My journey is different because I am an expat. I have a U.S. student loan and am using my Swedish income to pay it. So, I have to juggle two currencies instead of a main job and side hustles. I do not have any side hustles here in Sweden. Main reason is I recently moved here and am still getting used to the tax system.

Despite being an expat I do listen to some North American based podcasts that cater to the FI community. My commute at my previous job was extremely short, so I did not have time to listen to podcasts nor music. As one song finished I reached my destination. Nowadays my commute is a little bit longer, approximately half an hour. So I listen to podcasts, as sometimes I'll learn something new and it is good to hear other stories. Now, I have not heard any entries in these podcasts yet with expats in a similar situation as I; however, I have not listened to each entry.

This is a short list, but these two financial podcasts have made my commute much more enjoyable.

• Personal Finance for PhDs - Host is Emily Roberts. I enjoy this podcast as it is with other current PhDs and some post-docs. The posts are more concise and do not last as long as some others I have listened to, so I usually get through one post in one day covering both my commute to work and home. She goes through a budget breakdown with the guest and it is somewhat enlightening, especially on the posts with guests that live in expensive cities. As I live in an expensive...well, country. 
• Choose FI - Hosts are Brad and Jonathan. Now, I just started listening to this one a couple weeks ago. Most of their guests have already paid off most of their debt and are on the road or have reached FI. So, this one I listen to because it gives me hope that there is a light at the end of the tunnel. 

Some of what I have learned from these podcasts is the importance of tracking your Net Worth. So, I created a spreadsheet to track it and even though it is hard to see my hard-earned money going to pay off these loans. The effects it has on my Net Worth make me feel a sense of accomplishment and also I know exactly where my money is going. 

If you have any podcasts to recommend, leave a comment!

Read More

Julmarknad - Old Town Swedish Christmas Market

Gamla Stan literally translated to Old Town. Which is an area in Stockholm and is one of the oldest and best preserved medieval city centers. Founded around the 1250's, it feels like a step back in time when walking down the cobble streets. Anyway, this draws a lot of tourists and it is usually packed as it is picturesque and 'Instagrammable', but you have to get here early if you want to be away from the crowds. There are interesting restaurants in this area that are Viking themed, there is even one that serves a moose burger. Several interesting sites are nearby too, there is the Nobel museum that the carolers below are caroling on its steps. In addition, the Royal Palace is nearby where you can take a tour. It is very ornate but once you've seen one you've seen them all. My favorite site is the Stockholm Cathedral, it is beautiful, and there is a large statue of St. George. It is well worth a visit. On the subject of Vikings, you can walk on Prästagatan (Priest's St), where you can see a Viking Rune Stone that most likely predates city. 

Now, Julmarknad is located in Stortorget, the oldest square in Stockholm. When I arrived it was packed and I was not able to enjoy myself since it was difficult to get a good look at some of the stalls. I did manage to take some photos for you to take a look but I will have to try and manage to get better ones. Perhaps by arriving as they open or as they are closing. 

Read More

Allhelgonadagen - All Holy Day

As most of the world has a tradition for remembering and celebrating the lives of the dead, it is not surprising to find a day here in Sweden. Which was celebrated on November 3rd this year. I am still getting a grasp on the holidays here, as this day is not quite the same as All Saints Day but it is a separate day that is celebrated the Saturday after October 31st. While November 1st is always All Saints Day. This day is All Holy Day. On this day people go to the cemeteries to light candles on their loved ones graves or light a candle in the memory of family members that passed.

We went to Skogskyrkogården, which is just south of the city Stockholm. This cemetery is a UNESCO site, and was founded in the early 1900's. The goal of the site was to build and design a cemetery that would blend both nature and architecture together. So, it appeared that it was in a natural setting and would not take away from the natural beauty of the area. I have to agree it was well done. Some graves are nestled within the forest and it feels so serene and peaceful.

 Now for the good part... pictures!

↢↢

↢↢

↢↢

↢↢

↢↢

Read More

Jena, Germany

So, in mid-Sept I went to Jena, Germany. What a gorgeous little town. It is a couple hours south of Berlin. We traveled by train to there and it was not too bad, on the way back we took a bus. This was cheaper and direct, and travel time was similar so I would probably take the bus again if I were headed to this town again. This town does have a university and it has the feel of a university town.

I did receive a semi-culture shock as I am not used to carrying cash or at least not much. Many places in this part of Germany did not accept cards, only cash. This included sit-down restaurants. We stayed at this hotel called- Gasthof Zur Schweiz. Which was extremely cosy and inviting. They also had a breakfast buffet that was included into the cost. Well worth it, I think. It was also in walking distance to the old city and wall.

A little bit of quintessential Germany

A view of the same street, where you can see a little of the original city wall, a bit of the German facades and the modern building with 28 floors.

A set of views of Jena from the highest tower (27th floor)

Part of the old city wall

A tower original city wall

A gnome fountain

Beautiful German facade

I did want to show this castle we saw on the train ride to Jena from Berlin. It now houses a burger restaurant. Talk about some views when you're biting into your burger and fries.

Read More

Financial Update Post

So, I have not made as much progress on my student loan repayment as I would have liked. I had to use my emergency fund (EF) to pay for some stuff back home and I have been rebuilding it back up. My EF in the U.S is only $1000.00, but I am trying to build an EF here in Sweden of about 25,000 SEK or about 2500 USD. This would be used for moving expenses and first months rent and deposit when I move out of my current apartment.

I also might have made a mistake when it comes to my U.S. taxes. I recently found out that because I have been putting money into my IRA I might not be eligible for the foreign income exclusion on my U.S taxes. So, I am going to hold off on putting more money in until I know exactly what is going on. I have also heard that I might be eligible for a tax break on my Swedish taxes because I have been using my Swedish income to pay my US student loan. I know it is not the best move when it comes to accruing interest loans but I have decided to only pay a little more than interest accrued once a month. Just to see for sure where I stand in the tax situation in both countries. So, that means I'll be saving my money, instead.

I was considering putting my money in a Swedish brokerage account especially since savings accounts here don't accrue interest right now. I went to my bank here and I asked about opening a savings account, and I was told that it was essentially negative interest, but they are so kind they just bump it up to 0% interest. So, I am just leaving it in my free checking account for now until I figure out what I can do.

The good news is that I am helping my mom run a  Poshmark page, a Mercari page (which I will add the hyperlink later), and an Etsy page. So, a portion of the money earned from here are going towards our Financial goals. I will make a specific post about my goals specifically.

Read More

Graduation from Oxford University

I finished my degree in 2015 but I attended my graduation in March 2016. This is a late update but I had been on a several year hiatus. Now, graduation is a little different than in the U.S. It is a bit more ceremonial and retains many of its original proceedings, particularly that is all in Latin. Now I don't know about you but I don't know much Latin and I imagine it was the same for most of the audience.

Now, for those with graduate degrees we marched with our college but the Masters and Doctorate students were presented separately.

The day was as follows:
Met at Wolfson college where I had breakfast and signed for my degree. Headed to the Sheldonian  where I was sent to wait in the Divinity School (you might recognize it from the infirmary in the Harry Potter films) along with my other college-mates as we waited to be called over for entrance. My mother was the only family member in the audience but my dad and brother watched on the televised version in the U.S.

Undergraduates receiving their degrees

Here come the graduate students :)

I think this the part where we had to agree that we deserved our degrees, along with saying some Latin words.

The Divinity school behind me. You can probably see some differences in the color of sashes. Mine meant that I received a Master of Science degree. The black and white to the left of the photo is an undergraduate degree. In the back right hand corner there is a red coat which means a DPhil (PhD).

The Radcliffe Camera behind me. This is also known by students as the Rad-Cam. I  liked to study in this building... if I could find a seat.

Read More

More difficult than I expected

Wow, this is a lot harder than I hoped.

When I was back in the U.S working it was a lot easier to keep track of all my money. As of now, I have two accounts and two financial lives to worry about essentially.

I got paid twice a month and I did not have to worry about the exchange rate. For the last couple of months the Swedish Krona has been falling against the U.S Dollar, so that means when I wire money over I am getting less dollars than the previous time. This pretty much means that I can only really do my budget the day I get paid and am ready to transfer money over. Although, I have found a way to send money to the U.S for cheap using Transferwise. This has been such a relief for me. I am only  paying for the conversion from SEK to USD as opposed to 2 sets of bank transfer fees. I am inputting my link, if you decide you want to use it. There is a bonus for both of us if you hit certain requirements. WIN WIN!

Also, I've had to get used to seeing the prices and not thinking something is expensive when I see it, ex. 300 SEK which is only about 30 USD. I've just been doing a basic conversion in my head.

So, I have a budget of 2000-2500 sek for food and fun expenses per month, which is not a lot in retrospect. Especially considering how expensive food is here. I have been eating at home and bring lunch to work. Yay! Tuna sandwiches! Which is fine, as I am still trying to find places out that I like. I also am able to make things spiced to my liking. I am Latina, I like spicy food.

I've also been really stressed and craving sugar so I have spent wayyy too much money on soda and other sugary drinks. These are about 20-30 sek each time and it adds up. So, this coming month and the next few weeks I have to cut back on that. Plus, it has been very hot here so I have been drinking lots of water to keep hydrated and sugary drinks do not help with hydration.

I've also further cut my expenses back by biking to work. I was given a bike by a colleague, granted I need to fixed it up which only equated to 400 SEK. This is cheaper than having a metro pass and a gym membership. However, I have never really dealt with snow, so by the time the first snow appears or ice is becoming a regular fixture on the road I will go back to riding the metro. For the next few months I'll have an extra 600 SEK in my budget. Woohoo!

Anyway, I'll come back with more updates!

Read More

PhD in Sweden

Some of you may be aware but I recently started a PhD in Sweden. Now as an American this is a great thing.

I always wanted to pursue a PhD and had been searching for programs for a couple of years. I considered going back to the U.K. but I decided to look elsewhere in Europe since I knew some did not require tuition payments and paid a stipend.

I decided to apply to a university here in Sweden and it was the best decision I made. Unlike many universities in the U.S. you'll need a grant or hold a position as a graduate assistant for a tuition reduction or coverage. I also know a lot of people who pursued and are pursuing PhD's in the U.S. that took out more student loans. This was NOT the route I wanted to take. I already have student loans and I did not want to add to them, just pay them down.

Pursuing a PhD here has many benefits. To be honest, I do not understand why more Americans are not taking advantage of them.

1. You are treated as an employee and an early-stage researcher. 
2. You earn a salary, granted you have to pay taxes on it. However, I find the after-tax pay very similar to an entry-level banking position in the U.S. 
3. Great healthcare and very low cost. Seriously, I broke my arm my first week here and had to have surgery. So far, I've only had out-of-pocket expenses equate to 1000 SEK (~$110.00), which is supposed to be reimbursed once I no longer have to go to P.T. Another benefit!

There are other benefits but these are the only ones that come to mind.

Now, for the fun part. I am currently on an Income-Repayment for my student loan (SL) back home. This means that every year I tell the company my current salary and they calculate my discretionary income and 10% of that is my monthly payment. Now, that I am in Sweden my take-home pay in USD is now $0.00. This means that I don't have to make a payment but it still accrues interest. 

I have been working on paying it down by wiring money home and paying for it that way. So far the wire transfer fees from my bank here are not too bad but I am looking for cheaper options, like TransferWise. I've had other friends studying in Europe who wired money home that way.

Like I said, I am writing this as a way to follow my personal progress and for other Americans to see that pursuing a PhD in Europe is an option. Especially, if you can still pay your student loan. Since, I do not see a lot of blogs about that right now.

Anyway, if you have any questions or suggestions, let me know!

Read More

Update

Hey all,

I decided to make a bit of an update. I had moved home after living in England for a year and decided to live a bit of a private life. This was so I can shift from student life to a more professional one, and I was not traveling. I am planning on restarting the blog and showing off some more of my travels from the past and what is going on in the present.

I also wanted to add something more that I did not discuss previously.

Finance.

I have recently moved to Sweden and I really wanted to document the move I made. Especially, since I realized there was little advice for an American moving to Sweden. As for finance, I am paying off my student loan that is still in the U.S. and I wanted to make sure that I would pay it if I know I have to write about it.

Anywho, get ready for some posts. :)

Read More