March 2021 Net Worth update: $171,052
Spring time is upon us. It is time to enjoy being back outside with this beautiful weather. As the weather continues to warm-up we begin to take more time to spend our days on our beautiful balcony. At the end of each month, I take a look at our monthly budget and do a Net Worth statement. It is time to dive into the March 2021 Net Worth and see what happened in March.
March has been pretty good for saving and our Net Worth. We have saved 62% of our income this month. Our net worth has grown by $5,047. That is great news.
As I did a podcast in March, the interviewer did some numbers for me. From May 2020- February 2021 our Net Worth had grown by $97,000. That is so amazing.
I had started to track my Net Worth in April of 2020, but I had not started the blog yet. So Since April of 2020, our Net Worth has grown $107,152.
I am shocked to see this number. It is all about consistency, investing, saving more than half of our income, and the compounding of our investments.
Everyone can do this. Just start small and make a goal.
March Went too Fast:
We are already in April. It is crazy how fast March went by. Last year, my wife and I took a trip to Argentina and Antarctica during the Covid craziness. In hindsight it sounds like a bad decision, but I am going to be honest it was one of the greatest moments in our life.
Antarctica was absolutely amazing. The people on our cruise were amazing. Our adventure through the waters of the Southern ocean couldn’t compare to anything I had seen before.
There was amazing wildlife, beautiful ice structures floating in the water, and the rush of adventure in a small zodiac boat.
Compare that adventure to March 2021, and there is no comparison at all. March 2021 came and went without too much excitement at all.
Our Mission Trip:
My wife and I are very involved in our church. We set out for a mission trip in central Taiwan at the end of March.
We spent a few days doing home visitations with broken families, operating an English camp with 45 kids on a Saturday, and we helped with leading the worship at the local church.
Spending time with people while trying to listen, pray, and help those that are not as fortunate was something we have always been called too.
Not everyone believes in doing this, but this is just a part of what we like to do. Money does not solve all problems.
Being able to serve and use your time for others is something that I enjoy doing. I enjoy investing my time in family, friends, and with those less fortunate.
My wife and I were so excited to go traveling in March. We had booked a trip from Taipei to Kinmen island, which is a Taiwanese island off the coast of China.
So we sat in an airport for about 4 hours to find out that our trip had been cancelled due to fog.
It was quite sad news. We had our bags packed, camping equipment with us, and we were ready for a fun adventure.
Fortunately, we have rebooked the trip for May.
Let’s get to our Net Worth Update.
This months was a very good month budget wise. We did not spend much money on food this monthy. It was a combination of getting free food from work, and cooking almost every meal at home.
Our health part of the budget was a little bit over. We have been seeing a fertility doctor, and oftentimes those drugs can cost a bit more than one would expect.
Besides that our budget has been quite good.
Here is a better breakdown of our budget for March.
March Net Worth Update:
Our Net Worth has grown by $5,047, which most of this has come from our investments. The compounding of our investments is starting to show up.
One of the hardest things is to get to $100,000. Once you hit that first $100,000 the compounding interest can really make a huge difference.
Keep moving and keep improving.
Net Worth Breakdown
Cash Savings:(+ $1,723)
Our cash is not as high as I expect it to be, but we have been doing some investing when some of our index funds have dropped in price. That is always a good thing to continue to invest.
Another thing is that the U.S. dollar’s value is rising making some of our Taiwanese dollars worth a bit less.
Taxable Brokerage Account: (+$4,453)
Our taxable account has been increasing pretty regularly. If you have noticed, the market is hitting highs every couple of days and then there will be a couple of dips.
There was also the third stimulus check passed by Congress giving more money and hope for investors and people.
We do not mind if the stocks go down or up. Our strategy is to buy and hold for the long-term. The short-term will always have its ups and downs.
The good thing is that we got some more dividends at the end of March to help reinvest. We got a total of $336.29. This is pretty exciting because it can buy more shares.
The more shares we have the more that compounding interest can grow.
Roth IRA: (+$134)
As we look towards retirement, I wish I had more money in the Roth IRA. Unfortunately, since most of the money I make is tax free for the U.S. because I live abroad and claim a FEIE credit. So there is no money that can be taxed in order to be put into the Roth IRA.
I could change some of my taxes in order for this, but I may wait to see if my income increases more in the long term.
My Wife's Super: (-$864)
As the U.S. dollar rises other currencies lower. Since my wife’s super is in Aussie dollars the value has dropped in USD, but it continues to grow.
In September, we switched her investments to a more index focused one, which has now gone up around 10% in value. I like those numbers.
Even if this is a negative number, the fund continues to grow. I am still not a fan of the fees that are from the management company, but it is one of the cheapest in Australia.
Mrs. FE's Taiwan Pension (+$168 )
My wife’s Taiwanese pension grows at about $168 a month. That is because our school puts in about 6% every month. I will be able to qualify for this in a year and a half. So this looks like an exciting thing to have. We can then collect this at 60 years of age.
Liabilities (-$639 )
The liabilities is a bit up for the month of March. Our credit card fee of $550 for the Chase Sapphire Reserve came in for the month of March.
You all may think this is high for a fee, but $300 is given to us for a travel credit, which we will use for flights or accommodation.
The card has also given us many points to be able to fly for free. The amount of points we receive is more than the fee of the extra $250. So that is good news.
When traveling opens back up, we can use our lounge pass that comes with the card to help pay for free meals at airports.
Remember to always pay off your credit card at the end of the statement or month.
Spring is Here
March has come and gone, and we are now in April. This is going to be a month full of new adventures, new spending goals and savings goals.
Let me know in the comments section how your Net Worth was for March.
I’m Steve. I’m an English Teacher, traveler, and an avid outdoorsman. If you’d like to comment, ask a question, or simply say hi, leave me a message here, on Twitter (@thefrugalexpat1). Many of my posts have been written to help those in their journey to financial independence. I am on my journey, and as I learn more I hope to share more. And as always, thanks for reading The Frugal Expat.
2 thoughts on “Spring is Here! March 2021 Net Worth Update”
Wow, what an incredible increase in your net worth, not only over the last year but in the last month. Very well done! You and your wife are truly frugal and amazing savers.
I love the photo of the two of you with the penguins in Antarctica. I can’t believe you were on a cruise ship, of all places, just as COVID was starting! You totally squeaked in there, ha ha. Lucky you. As much as I love cruising, it’ll be a very long time before I feel safe on a cruise ship again!
It’s wonderful that you and your wife have been able to give back to your community already, even before reaching FI. I’m sure many people are going through challenging times right now. Having kind people like you and your wife to talk to must mean so much to them.
Thank you so much Chrissy.
It has been a crazy year, and every month we are working on staying frugal. It is incredible that we have increased so much in the last year.
I still wonder how we got off on that last cruise to Antarctica. The people were amazing. The food and adventures even better. We were quite lucky. It was crazy getting home, but we made it back, and had stories to share to all.
I always believe in helping others. My wife is the same way. She spent a year traveling the world on a mission trip, and so we try to do our best to help those around us. Taiwan may feel like we survived the pandemic, but many people still lost jobs and are hurting. Having a listening ear is such a blessing. Thank you for your kind words Chrissy. We just keep trying to do our best.