Net Worth Update | March 2022

We’ve been tracking our net worth since the end of 2018 and, each quarter, we share our progress with you all! We're back with another net worth update for March 2022. Let's see the progress we've made over this quarter!

If you’re more of the video type, check out the YouTube video above!

Here’s our current net worth:

…and here’s how that compares to last quarter:

What’s affected our net worth this quarter:

1. Increased cash balances

   Right now, we’re holding a lot of cash. We know! A large portion of the increase in cash is money we’re aggressively saving to eventually pay down our student loans. I also got my annual bonus from my job, which was larger than I’ve received in years past. We’re holding most of this money to fuel one of our most loved passions - travel. However, we do generally like to keep healthy cash balances. Between our personal emergency savings, cash reserves for our business, and other miscellaneous sinking funds, the cash adds up fast.

2. Receivables

   My day job owes me some money for some business related expenses. I usually don’t include stuff like this. However, it was a sizable amount this time, so thought it best to include! I’ll get this back on my next paycheck.

3. Liquid investments & retirement plans

   The markets sucked again this quarter! Usually, we see much larger increases in our investments quarter over quarter. I even got my annual employer match this quarter, and it barely moved the needle.

4. Home value

   We bought our home in the summer of 2020 and are holding this value steady at our purchase price.

5. Cars

   Cars are typically depreciating assets. However, this quarter, we added about $180 in value between our two vehicles. I just report what the internet tells me!

6. Mortgage

   We’ve continued to pay our mortgage down according to our amortization schedule. We’re not in a rush here!

7. Credit Cards

   If you’re new around here, know that we do not carry credit card debt. This just happens to be what the balance was on our credit cards as of that day. We always pay off our cards in full on time every single month, but for the purposes of calculating our net worth, we’ve got to take that into account.

8. Taxes

   We owe some state taxes, which we totally anticipated and planned for. This money will be drafted a few days before the April tax deadline!

9. Student Loans

   We haven’t made any payments since June of 2021, so the balance remains the same. However, as mentioned, we’re socking away tons of cash to make another massive payment before loans go back into active repayment status (whenever that is at this point!)

For context, here’s a snapshot of our progress over the last 3.25 years:

Final thoughts

We think we did really well this quarter, all things considered! We increased our net worth by 50%, are on the heels of achieving a six-figure net worth, and we feel pretty good about where we’re headed.

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