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About Me:

Monkey Mama

Just a 46-year-old mom of 2 in Northern California. My kids are Monkey Monkey(MM) and Drama Llama (DL). I am married to Monkey Hubby (MH).

We were a one-income family for 13 years. In late 2015 my spouse returned to work (minimum wage/part-time/seasonal). Something recent on his resume just buys us more options for the long run. The main benefit of this job is that he just works while the kids are in school. As always, we are saving 100% of his income.

{2023 Update: I expect that MH will retire from this job when kids are done with college and/or home is paid off. I think he likes the idea of finding more interesting or full-time work, with kids both adults now. But practically, might just stick out the *good* and very flexible job as long as possible. The very part-time job is allowing him to pursue his film passions. We are only about 5-ish years away from financial independence. Would be very different if we "needed" the money or he thought he might have decades of working years ahead of him.}

We saved a lot while we were very young and also moved to a lower cost-of-living area, to make life much simpler. We still live in California though (in one of the most expensive regions of the U.S.). *Simple* and *inexpensive* is relative.

Likewise, we have never had debt aside from our mortgage.** My blog is a testament to how much simpler life is without debt; how we have that much more money to both save and enjoy!

**Caveat: I have no problem whatsoever with credit cards paid off monthly, or low-risk credit arbitrage (for example, 0%-interest debt while earning 5% on FDIC-insured cash). These are the kinds of debt we have had. Just not interested in high-interest debt, using debt to buy beyond means, and not interested in the hassle that comes with loans and payments. With age and means, the latter (hassle) is our biggest debt avoidance motivation.

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2024 Goals

[ ]Small monthly Charitable Contribution
...($35 @ 1/31/24)
...Trying to be more mindful about how the little amounts add up and are helpful.
...This is not an all inclusive list of charitable giving but it is a new habit I want to add in addition to other donations of time, goods and money

[ ]Pay cash for college
...This is so much a given, to me. But I realize not everyone can read my mind, and so will memorialize in my goal list.
...#1 We don't do Debt
...#2 The student loan system is a scammy and corrupt mess.
...Seriously, wouldn't touch these student loan servicers with a ten foot pole.
MM YEAR 1 ✔
MM YEAR 2 ✔
MM YEAR 3 ✔
MM YEAR 4

DL YEAR 1 ✔
DL YEAR 2

[ ]$10,000 to savings
...($4,529 @ 3/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($1,750 @ 4/30/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 4/30/24)
...Topping off with snowballs and/or excess cash
...Keeps us on track with $10K principal paydown per year

[/]9% of household income to work retirement plans
...(9% @ 3/31/24)
...This is the minimum for the match; I'd otherwise rather fund IRAs.
...Note: Total retirement savings rate is 20% (with IRAs)

Goal savings rate = 25% of gross salary, plus funding IRAs from other sources.

[ ]$14,000 to IRAs 2024 (MAX)
...($0 @ 4/30/24)
...Will fund with MH's income
...Will not fund until the year is over. This is for tax and planning reasons. I won't know what mix of Traditional/ROTH IRA we literally can contribute until we do our 2024 taxes. In addition to that, can make a more informed decision based on our financial and tax situation for the entire year.

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**Long-Term Goals**

[X]$500,000 in retirement accounts by age 45.

Current big picture goal:

[ ]$1 Mil in retirement accounts by age 52.

Stretch Goal: Achieve by age 50

Have decided to pretty much stay the course. Keep saving 20%+ to retirement. This means taking 401K match & maxing out IRAs.

NOTE: WE HAVE NEVER CONTRIBUTED LESS THAN 10% TO RETIREMENT. NO EXCEPTIONS.

If we can't achieve at least 10%, then something else has to give. I share because it's infinitely easier to save for retirement if you start early. Let the investments do the hard work for you.

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Debt: $85,000 mortgage
{Home Purchase Price $290,000}

Ongoing goal is to *never borrow money again.*

Took on a $230k mortgage in 2001 and have not added to that.

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Net Worth: Increase net worth by $600,000 in the next 10 years. This is my "financial independence" goal.

2017: +$ 70,000 (partial year)
2018: +$ 51,000
2019: +$105,000
2020: +$104,000
2021: +$215,000
2022: <$ 65,000>
2022: +$ 85,000
TOTAL: +$565,000

This is in line with prior goal, saving 100% of our expenses every year.

{Our expenses are far more consistent than our income. Also, helps to prevent "living up to income."}

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My Pages

$20 Challenge - + Interest

February 1st, 2007 at 03:34 pm

$20 challenge:

741.65 - Balance 1/26

$27.85 - Interest savings

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$769.50 - Balance 2/1
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Woohoo.

I have much to blog about but little time, so it goes.

Cash wise though we are really short. I went to Bunco last night. Dh had used his emergency $20 for my tire (since it was a PITA to pay by card). THen I Stole the rest of his money for Bunco. Figure I would turn it to gold - hehe. Well not so much but I did win $15!!!!!! pAid in $12, won $15 - pays for my lunch out this week - woohoo. Leaves $15 cash in my pocket - plenty. Dh needs $40 - $20 for spending & $20 emergency back. I took ALL his cash - LOL. Anyway, today I get an auto reimbursement around $40 so will go to the ATM for him. Cash is usually in our budget, but just tight with the winter gas heat bills. Plus instead of using all the cash we generally come across, I have been depositing it aLL in the bank. Leaves us cash tight but that is okay. IT always seems to work out. & my savings is growing - woohoo.

Bunco - I didn't add my winning to the challenge because I Always win - LOL. Just nothing new. THough if I took the cash to the bank and deposited it I would. My $15 saves me a trip to the aTM instead - for myself anyway - and that is usually what I use it for - so no challenge for that.

I got free dinner to boot - woohoo.

Our electric bill has also gone missing. I get it paper and electronic. Since I paid the last one 12/29 I figured I should have gotten it by now - I generally set them to pay electronically when due. Weird. Guess I will have to call - no electronic or paper bill in sight. I Can't figure out January budget - this is messing me up.

Today is pay day and I plan to immediately transfer $1000 to savings. $200 for the EF and $800 for Short-term savings. Most of that will go to the dentist this month. LEaves $1200 for credit card (on track before mechanic - grrrr) and 500 for utilities. CC went over so will just pray utilities fall below, have a little in the slush fund for mechanic anyway - so works out. Nothing will keep me from putting $1k in saveings. (well almost nothing. Wink )

Ask me the last time I saved $1k from a check - LOL. It has been a LONG time. Woohoo.

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$20 Challenge - + Interest

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