Our Net Worth

How We Use A Low-Price Strategy : April 2022 Net Worth Update

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Adopting a low-price strategy over the last ten years of budgeting has helped us increase wealth.

If you asked me to tell you one thing I wished for that money can’t buy, I’d answer, freedom.

Yesterday, Mrs. CBB and I discussed the high price of gas, food, utilities and real estate in Canada.

According to Stats Canada, the consumer price index rose 6.8%, an all-time high since 1991.

When interest rates go down, people shop and lights put out the dark when they go up.

In other words, consumers put the brakes on spending and begin to feel the pressure to save.

It’s no surprise that Canadians are scrambling to find new ways to reduce household costs.

I hate to see people struggle with money, but sometimes money lessons hit us where we never expected.

It has been years, but It’s still hard to believe that we are debt-free and owe nothing to anyone.

Often I get asked how we could grow our net worth, and there’s not just one answer.

Today, let’s chat about how a low-price strategy allows us freedom in the eyes of financial sacrifice.

Building Blocks To Debt Freedom With A Low-Price Strategy
Building Blocks To Debt Freedom With A Low-Price Strategy

What Is A Low-Price Strategy?

Adopting a low-price strategy sits pretty high in our top five wealth-building blocks.

We call them blocks because starting from the bottom of the money chain is where most of us begin.

Canadians who were born into money or were left a hefty inheritance are on an entirely different level.

I’m sure you’re wondering why I think this way, and it’s because they had the kick-start we can only dream.

In other words, they are playing on their field of dreams against teams we’ve never heard of.

So, what is a low price strategy?

Ok, here’s the way we think in our world of finance, and it begins with accepting humble beginnings.

There’s nothing worse you can do for your finances than to build a tower of Debt, pretending you’ve got life under control.

We’ve always taken a step back to see the whole picture, even if we came face to face with blurred lines.

On our wealth-building journey, a low-price strategy means finding the best quality for the lowest price.

Nothing less, nothing more have we ever believed it would, in part, carry us the way it has.

Creating A Future Without Blurred Lines

Dreaming is probably the most powerful way to see ourselves where we want to be.

No one dreams about being poor with all of the doors locked around them.

Success in the eyes of the beholder includes paying the bills and setting money aside for the future.

Our financial dreams are like snowflakes but with different impacts based on the person who sees them.

We only see what we want to see, and if that makes us happy, we’re ok with that.

Freedom from debt collectors, freedom from financial stress and the freedom you’ve only dreamt of.

Understanding Your Financial Success Story

Blurring the lines is to dream of success without executing the basic tools to achieve financial goals.

When we began with a low price strategy, it was learning how to manipulate the way we spent and saved money.

Budgeting is only one piece of the pie when bringing dreams to life.

Maybe you’ve heard the saying if you can dream it, you can achieve it.

I 100% support this notion; however, not everyone’s path to the top will be the same.

Whether you are working for someone else or yourself, keeping costs low is only the beginning.

Low-Price Strategy Considerations

We didn’t jump on it when the bank said they would give us a more significant mortgage than expected.

Instead, we took a low-price strategy to buy a quality home to fix and live in forever.

The bank offered us over $700,000, and we looked at homes around the $200,000- $250,000 mark.

We reasoned that we wanted to live on one income and use the other to pay off the mortgage.

It worked because we owned a house free and clear after five years of ownership and no vehicle payments.

Then came junior straight after and a new journey of budgeting began for us.

Five Ways We Implemented Our Debt-Free Plan

Budgeting started before we began house hunting, leading us to a low-price strategy mindset.

A low-price strategy is part of wealth building which is also part of the five blocks below.

  1. Budgeting (learn more by visiting my 10 Step Budgeting Mini-Series)
  2. A Low-Price Strategy includes finding the best price possible or going without.
  3. Increase Net Income (bought second-hand and sold for more, started this blog).
  4. Pay Off Debt, including the mortgage and vehicle.
  5. Save and invest money for today, tomorrow and our retirement years

Comparing prices, price-matching, coupons, flyer sales, repurposing, second-hand shopping, garage sales, and rewards points contribute to getting the lowest price.

We’d bask in the glory of getting free stuff or the lowest price possible at the cash register using coupons or online discount codes.

Instead of buying new, we repurpose and shop second-hand for whatever we need or wait until a sale.

It’s not essential that our furniture matches or that we have the latest fashions and accessories.

Along the way, I started the Canadian Budget Binder, which earns me thousands of dollars each month.

Doing so helped us increase our net worth by quickly paying off our Debt (mortgage and vehicle).

Once debt-free, we invested more money aggressively and maxed out our retirement savings and tax-free savings accounts.

Keeping a low price mindset further allowed us to open non-registered investments and buy life insurance for our son.

Each step of the way allowed us to move up the blocks to where we now feel our freedom.

Keep Costs Low And Build Your Blocks

The moral of this story is that anything is possible, but you must start at the bottom.

I know it sounds depressing, but once you pass each hurdle, you’ll notice it becomes a challenge.

Keep negative thoughts and people out of your mind and life because you do whatever you want.

Don’t ever let someone tell you that you’re not going to make it or that what you are doing is silly.

I’m confident that they’d be shocked if I told friends in our circle that I run a blog that earns me a five-figure income.

Blogging and online marketing are an unknown area for so many people as it was for me.

Often you have to do it on your own, stay humble and hit it hard for the home run.

Just remember, build-up, and if you fall, that’s ok as long as you get back up.

We are happy with our financial freedom as we continue using a low-price strategy.

So, freedom comes not from money but from how you use the money you earn.

You can’t buy freedom, but you can build it.

Discussion: Tell me if you use a low-price strategy to help reduce costs and invest more?

Be well,


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CBB Net Worth For The Preceding 12 Months

Scroll close to the bottom if you already know how to calculate your net worth to see the breakdown of our April net worth.

Net Worth For Preceding 12 Months 2022
Net Worth For Preceding 12 Months 2022

Net Worth Increases And Decreases

The chart above reflects our net worth increases and decreases throughout 2021-2022.

We saw an expected decrease in April, so we don’t have much to say about it.

What are your thoughts about seeing your investments increase and decrease?

Drop me your comments below.

How To Calculate Your Net Worth

Net worth adds up your assets (what you own) and then removes your liabilities (what you owe), giving you a net worth number.

We like to calculate our net worth every month to know if we are still on track.

Some people calculate it yearly or quarterly, but it’s up to you and how informed you want to stay.

Net Worth is only an estimate, and not everyone uses the same type of figures to tally it up.

Determining Net Worth

How to Determine Net Worth?

Net worth = Assets – Liabilities

Calculate your net worth with our Free Money saving Tool Net worth Calculator (Canadian Budget Binder.

Net Worth Losses And Gains 2022

Net Worth Chart for April 2022 decrease.
Wow, look at how much money we lost in April! Time is all we have.

Again, there’s not much to say, but this is the state of net worth, and we hope time is on our side.

We add our principal residence into our net worth, but we take that with a grain of salt.

Yes, it’s part of the overall net worth, but it’s a house unless we sell it since we live in the house.

Based on our area’s home sales, our home would sell near the $900,000 mark, maybe higher.


Canadian Budget Binder Net Worth Updates 2022

Click the links below to read our net worth updates for 2022.

The following net worth report will be in June when we look at our May 2022 net worth figures.

Feel free to comment below.

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