In March we took two out of town trips. One to visit friends and go back to New River Gorge National Park in West Virginia, and the other at the end of the month to go to Whitney’s 10 year PT school reunion in Norfolk, Virginia. Traveling with a baby involves so much more packing and thought. Gone are the days of us going on a trip with just small bags and staying in tiny rooms. We now need multiple bags, a stroller, a bassinet/playpen, and ideally two bedrooms. Even then, long car rides are difficult and sleep is inconsistent. Even though there are a lot more considerations now, getting away for a few days every now and then is still nice. The trips went well overall, although on the second one Aria really struggled sleeping so we were pretty tired for most of it.
The weather was good for most of March in Virginia so we spent a decent amount of time outside at parks and hiking. Aria is able to climb up and slide down the slide at parks now, and she’ll do that endlessly if we let her. It’s amazing to watch her grow and develop so quickly.
Income
Income from our business (FifthWheelPT and Travel Therapy Mentor) for March was about 30% less than in February. This was actually one of our lowest earning months in years. I don’t think there was anything in particular that caused this but just a slow month for us that I believe will just be a one off thing.
Expenses
My expenses for March were a little higher than normal with the two trips that we took. We didn’t spend a ton while traveling but just the cost of extra gas and an Airbnb near the national park along with eating out more added up.
My savings rate for the month was about 50% when all was said and done. It’s amazing to me that even during a month with higher expenses and lower income that my savings rate is still 50%.
Investments
The S&P 500 was down by about 5.1% in March. There was a lot of fear about the war in Iran as well as the subsequent spike in oil prices. If there’s another jump in inflation as a result of the war, the economy — and the Federal Reserve — will be in a difficult place. There’s no doubt that consumers are already struggling and that the labor market is weakening, which would normally mean rate cuts and a resumption of quantitative easing, but with inflation rising that would be imprudent.
Bitcoin was up by 1.8% in March. That small monthly gain ended one of the longest consecutive streaks of negative monthly returns for Bitcoin. After such big drops in January and February, it seems we’re well overdue for at least a decent sized bounce going into April. Whether that will turn into a sustained uptrend is in question. The sentiment in the market is terrible and many of the indicators I watch show that February could have been a bear market bottom, but with the war ramping up, anything can happen. Whether the bottom is in or not, these are still very attractive prices for me and I continue to accumulate. We’re not far above the 200 week moving average, which has always been a great place to buy heavily in the past. If we eventually drop below the 200 week, I’ll increase the size of my buys even more. My goal right now is to grow my Bitcoin position each month because I’m more optimistic than ever about it in the long term.
Financial Independence Progress
My net assets increased by 0.2% in March. This is the first month that my net worth hasn’t declined since September. That was the worst streak of consecutive monthly declines that I’ve ever had. It’s kind of ironic that this happened right after we moved to a nicer part of town and increased our expenses by 3-4x per month. Of course my finances are still in great shape even after this, but the timing was a little nerve-wracking.
My assets are now equal to approximately 31.5 times my average annual expenses!
In case you missed it, check out my August monthly post for an update on why I adjusted my spending assumptions.
Next Month
In April we won’t be doing any more traveling. We’ll spend the month at home and hopefully get Aria back on a good sleep schedule and routine. I’m also going to be applying for a (very) part time PT job to get back in the clinic a couple of mornings per week. Even though I have no intention of ever working full time in the clinic again, the thought of letting my license go is scary, so I’d rather work some hours so I can renew it at the end of this year.
How was March for you financially? Let me know in the comments!
Fifth Wheel Physical Therapist 