Hello and happy winter 2022! I hope this post finds you well as you may be getting into the holiday season and/or winding down for the year. Once a quarter I like to take a pause and take inventory of how things in and outside of my personal finances are going!

Income

Firstly, I’d love to call out that I’m super thankful to still be employed. It’s amazing how quickly things can change; thinking back to how good things seemed in 2021 and all we had to worry about (well aside from COVID) was if we were making enough money in the stock market and if we should be taking on more risk. We were job hopping like there was no tomorrow getting paid all the top dollars. I think we all knew that the good times wouldn’t last forever and it’s starting to look like we’re having a slowdown, err maybe a full blown recession? I’ve had a few friends get laid off from their (mostly tech) jobs and I worry there’s more to come!

That doom and gloom aside I’m feeling blessed to still have my job (in tech). I still enjoy what I do, and although there is definitely more pressure and worry, things are still good! I would expect a meager cost of living adjustment (i.e. a small raise) in February but it looks like that may be delayed to a date TBD. We’ll see!

Mrs. Money’s small business is still a slow go, which is ok as we budgeted and planned for a slowdown in our income but we are hoping in 2023 for things to pick up more. We are still landlords and knock on wood that continues to go ok! It’s a nice little bonus each month we’re able to pay the mortgage on that property and also have a little to reinvest moving forward!

Expenses

Gah. Inflation is real and things are expensive. Our daycare went up $100/kid/week somewhat unannounced, groceries continue to be expensive, BabyMoneyFinance and SegundoMoneyFinance seem to be eating more and more, gas isn’t cheap and on top of that it’s the Christmas season where there just seems to be so many holiday parties, gifts to get, donations to be made and just all around expenses to be spent. My car also had a bit of a mechanical issue when it one day decided to overheat and then not start back up. A fun tow trip and $2,500 later it’s back and running!

Thankfully I did somewhat save ahead for this time of year so that helps with the expenses. December always feels like a race to the finish – trying to not overspend and have a little bit left to save!

I wouldn’t necessarily say we’ve had to make major cuts or anything yet (very thankful for that) but I’d say we’re a lot more aware and are trying to re-introduce ‘no’ into our spending vocabulary.

Savings/Investing

It’s always a great reminder knowing that before my paycheck even hits my bank account that 30% has been pulled out – 15% for my employer stock purchase program and 15% for my 401(k) retirement. Although for the first time in my career I actually have maxed out my 401(k) contributions at $19,500 and I hit the max I could contribute to my ESPP program this cycle. So that means I got a little extra in my paycheck in November and December which is honestly definitely a great surprise to help with all the extra expenses that pop up this time of year.

The stock market has had a rough year but I’ve been keeping my head down and focused on the long run. Things will bounce back, it’s impossible to time the market and right now I’m buying into my index funds cheaply. At least these are all things I remind myself as I do my monthly net worth check and shudder at the sight of my hard earned money evaporating away in value.

The big update this quarter was the continued collapse in crypto and BlockFi in particular going bankrupt. I didn’t have much in my account there but it still hurts to see that money gone.

Aside from that I’m just staying on my course of investing and saving where I’m able to!

Giving

I feel blessed to have been able to continue to be able to give back a portion of my earnings to both my local church and other charities that I support. In December Mrs. Money and I typically try to make some end of year donations to a few other charities too. It feels good to be able to contribute monetarily and bless others as we’ve been blessed!

Overall

I’ve tried to adopt an attitude of gratitude (yes very buzzwordy I know) and also to be better at ‘choosing joy’. I’ve got an amazing wife, 2 wonderful kids, a job that pays the bills and a roof over my head, and even beyond that I have the chance to pursue hobbies and activities that I enjoy. 2022 has had it’s ups and downs but overall it’s been a great year. We’ve been able to increase our earning, save and invest, and put money aside for the kiddos’ college fund. Honestly just feeling grateful for all of that!

Blog

I’m continually grateful for the chance to run this blog, and am thankful that I’m able to have a few sponsored posts, which allow me to pay and cover the hosting fees! A few of my top posts of the quarter were: A look back years later on saving money at the grocery store, my thoughts on preparing for a recession (which I hope won’t come into play) , and my 2023 credit card strategy (yes I spend a lot of time planning for how to maximize my credit card values). I appreciate the continued support from readers like you!