2022 Q1 Net Worth Update

Our first quarterly net worth update is here! Before we jump into all of our assets and debts, here’s a few things to keep in mind:

We currently have a large sum in our Short-Term Savings because we’re saving for multiple big-ticket items at once. We dive into what those are in our April Monthly Budget.

Our Emergency Fund is a fully funded 6-month emergency fund that would cover our necessary expenses should anything unthinkable happen. We try not to touch our HSA account at all, the thinking here is that this will help to pay our medical expenses when we’re older.

Crypto isn’t a big focus for us right now, we’re just letting what we currently have chill. Our current vehicles hold little to no value, but we hope to be getting a different car soon.

The value of our home has been changing like crazy since we purchased it. We monitor our estimated home value on Zillow and Redfin. We also keep an eye on similar houses to ours to see how those estimates are fluctuating. This gives us a better picture of what our house might actually be worth. And then finally we always chip off $10k-$20k because those sites typically over estimate the value.

From a debt perspective, right now our only true debt is our mortgage. Although it may appear that we have consumer credit card debt, we do pay off our statement balances each month. The dates of when our payments are due don’t align perfectly for when we report our net worth so it may look misleading.

Now, with that all being said, let’s jump into our first 2022 quarterly net worth update:

Q1 2022 Assets: $833,180.63

πŸ€‘ Cash & Checking: $2,139.48

πŸ’Έ Short-Term Savings: $39,645.05

πŸ’° Emergency Fund: $20,100.65

πŸ‘΅πŸ» ROTH 401ks: $185,643.48

πŸ₯ HSA: $14,240.69

πŸ’΅ Brokerage Accounts: $11,590.50

πŸ’Ž Crypto: $6,851.00

πŸš— Cars: $4,300.00

🏑 Home Value: $560,000.00

Q1 2022 Debts: $423,005.79

πŸ’³ Credit Cards: $9,884.72

🏑 Mortgage: $413,121.07

Assets – Debts = Net Worth: $421,505.06

We have a goal of hitting $500k net worth by the end of this year. To achieve that, we need to increase our net worth by an average of $10k every month.

Our next quarterly net worth update won’t be until June, so hang-tight to see how things shift between now and then! Until then, we’ll continue to share our monthly budget overviews and expense updates.

Disclaimer: We are not financial experts and this is not financial advice.

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