This evening I started an investment account at Sharebuilder and a savings account at Emigrant Direct. Sharebuilder will give me six trades a month for a mere $12 and Emigrant Direct will give me 4 percent interest on my savings — the highest rate I’ve seen online and .06 higher than ING.

I’m hoping that Emigrant Direct will allow me to subdivide my savings like ING does. At ING, after you start your main account, you can create little sub-accounts and name them “vacation fund” or “down payment.” Isn’t that really cool? I thought long and hard about which one I should do, and I finally picked Emigrant, however.

What did I buy in my first ever equity trade, you ask? I bought $250 of Microsoft and $50 of a Russel 2000 index ETF.

Filing bankruptcy using a lawyer doesn’t take that much work. I made a few calls, went to a couple hour-long meetings at his office, and signed some papers. But during the last month, when all of this has been happening, my life as a graduate student has suffered. I don’t have a lot to do this semester; I’m only taking one independent study with Leslie, my dissertation advisor. Basically, this means I should read books and articles in my area of interest and I write brief reviews. Yet somehow during all of this bankruptcy stuff, my studies have come to a screeching halt.

That is, until this week. For the previous two weeks, I’ve known I have a meeting with Leslie to discuss my progress, and I’ve known I should probably have two more books read and reviewed by then. But as much as I tried to study each of those days, it just didn’t happen. Each day I woke up knowing I should read my books and write my reviews, but I kept finding other things to do. I watched tons of television, read blog after blog, and generally tried to repress the reality that I have a lot of work to do. I kept telling myself that I really needed to know what everyone on the messageboards was saying about Lost and One Life to Live, and that I needed to research the best vacuum cleaner. Even though I couldn’t follow through on it, I understood that graduate school should be my first priority, not my last.

Then something wonderful happened, something that hasn’t happened in a long time.

I felt inspired to study.

Spreading open my book, I started reading. And I loved it. I felt lighter, smarter, quicker, more in control of my life. The thing I had been avoiding so assiduously was the same thing I needed to feel better about myself. I had forgotten how much I love what I do, and how much I need my work to keep me sane and happy.

I read my book and I wrote my review. Then I emailed it Leslie, feeling proud. When I met with her, she was supportive and helpful, and I left knowing I was okay. I am going to be alright.

Over the weekend I received a large manilla envelope from my lawyer with copies of all the forms they submitted for my bankruptcy and with all my court documents. The big news is that I now have a case number, a trustee and a scheduled date for the “meeting of the creditors.” My big day is December 15. That works perfectly, because I will be on break from school, and not yet out of town on vacation. So far, this is the best bankruptcy I’ve ever had! I hope my financial affairs keep improving as they have been lately, because I’m enjoying having money.

Yesterday I went to the supermarket and paid cash. I even came home with $11 that I didn’t spend. My money management skills are getting better, though I did make a few impulse buys this weekend.

Also this weekend, I bought a high quality Analon non-stick wok on Amazon because it was discounted 60 percent and I really need a non-stick pan. Also, I’ve always wanted a wok. I like cooking stir fries and such, and I don’t consider it a very extravagant purchase at $39 and some change.

What do you think?

Now that I am not sending all my money to creditors, I have more for myself. I’ve been planning a budget and investment plan.

Here’s my financial state of affairs in a nutshell:

- Savings account: $270.51 (I’ve already made one cent in interest! Wowza! I’m rich!)

- Checking account: $307.93

- Cash: $145

- Money is now trying to find me: I just got a $300 paycheck from a part-time consulting job over the summer that I haven’t yet deposited. As well, I have a $350 check for my last apartment that is due any day. Both will go into savings to start my highly liquid emergency fund.

- I will get paid for my main job on the November 1, but before I do, I need to set up direct deposit on my new FREE Washington Mutual account.