September 2021 Net Worth Update

This net worth update is a bit late, but better late than never! Things continued to move in the right direction over the past month, with my net worth hitting $29,402. Last month I wrote about relocating to save money while I’m able to work remotely, as well as my foray into cryptocurrency and both of those have contributed significantly to the $9,133 increase through August!


Net Worth = Assets minus Liabilities


Assets Amount Change from Last Month
Checking/Savings $53,710  
Retirement Accounts 153,033  
Taxable Investments 8,183  
Misc. (Gold/Silver/Cash/Collectibles) 9,500  
Total Assets 224,426 +4,765


Liabilities Amount Change from Last Month
Credit Cards $2,971  
Student Loans 192,052  
Total Liabilities 195,023 -4,369


Net Worth = $29,402

Change in Net Worth from last month: +$9,133

Total Change in Net Worth Since July 2020: +$77,630


As you can see in the table above, there was an equal increase in assets and reduction in liabilities this past month. The decrease in liabilities was paying down a credit card with a promotional rate that expired. The increase in taxable investments was mostly attributable to cryptocurrency valuations.


I moved my cryptocurrency holdings out of traditional coins like Bitcoin and Ether and into some smaller coins that have some more activities tied to them. The primary example of this is the Hive blockchain and using it to play a game called Splinterlands. Splinterlands is a virtual card game similar to Magic the Gathering and it has taken off in popularity over the past several months and caused the value of its cards to soar in price. These cards are in the form of Non Fungible Tokens (NFTs) that can be traded and sold.

Working From Home

I have successfully reduced my living expenses by relocating to a lower cost area while my employer allows us to continue working from home. While they were beginning the process of planning a return to the office, the surging Covid-19 Delta variant has put all plans on hold. I don’t know when management will ultimately force a return to the office, but in the meantime I’ll continue to save money by living cheaply outside of the high cost of living of my office location. One thing I may put together is an analysis of how much faster I can reach my financial independence number for each month of continued remote work. I estimated last month that between the lower cost of living, offset by the loss of a part time job, I am saving $800 and 50 hours per month. Already, I have been putting a small portion of those 50 hours to work with my cryptocurrency ventures.

Making Money Blogging

One of the exciting things about the HIVE blockchain is that you can get paid to blog. While money has so far not graced The Money Sloth blog in any meaningful way, getting paid on the HIVE blockchain is relatively easy and has already resulted in several hundred dollars per month in income for me. In fact, one of my recent posts earned me over $100 and they pay out seven days after posting. I’ll work on an upcoming post here about how to replicate that success on HIVE for those of you who may be looking for a way to kickstart your blogging income. It may also be worth exploring whether there are any SEO penalties for concurrently publishing the same content within the Hive blockchain and also on a traditional WordPress blog. Combining the quicker payouts of HIVE with building a traditional blog at the same time could solve a lot of the startup frustrations with WordPress blogging.