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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.

-------------------------------

**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.

-------------------------------

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.

-------------------------

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."}

-------------------------------

My Pages

Gas!!!!

March 15th, 2007 at 07:43 pm

I guess since I put dh on preschool duty so I could work more, I haven't needed gas so much. I finally went today and about fainted - OMG. $3.05/gallon for unleaded. Last time I filled up I thought it was $2.60 or something Yikes!

What a shocker.

A little bummed because my friend invites me to this festival in the Bay Area every year and it is always a saturday during tax season - no way. But this year I think I can make it. However, I have second thoughs looking at the gas pump today. blech. If we could take the BART, all the better, but this is somewhere in the southwest side of the Bay where public transport is much more scarce and expensive. Bummer.

Well, we'll see... I might just have to work anyway. Kind of looking forward to freedom, freedom from work, soon enough, only to be holed up in home because gas is so pricey... Figures. Gas this price in March scares the heck out of me. What will summer bring? Around here public transportation is for the most part prhobitively expensive. But if it gets worse in the summer, I will certainly evaluate once again...

This also means our trip to So Cal will no doubt be in dh's little Escort again. Well, I won't knock it, nice to have a car that gets 40mpg. But it is kind of ridiculous to get the van for big trips, and be too cost averse to use it. Should have held out for a hybrid or something. I Feel like an idiot using it as a commuter car with these prices. Dh is adverse to me driving his car but I think he better get over it - fast! His adversity means every mile I drive costs twice as much and I am the one that drives every day to work. Grrr...

Posted in | 10 Comments »

10 Responses to “Gas!!!!”

Joan.of.the.Arch Says:
March 15th, 2007 at 08:02 pm 1173988953
1173988953

Yes, drive that more efficient car! Me? I'm reminding myself to walk more often. Fortunately I live where that makes sense. Healthy, too!
Nic Says:
March 15th, 2007 at 08:12 pm 1173989524
1173989524

As I was filling my tank this morning, the price changed from $2.28 p/gal. to $2.41 p/gal. I usually don't top it off...I did today since I got it at the lower price.
Why such a large increase all at once? Anyone know?
fairy74 Says:
March 15th, 2007 at 08:12 pm 1173989529
1173989529

Gas here is $3.25 as of yesterday, eeks!
PRICEPLUS Says:
March 15th, 2007 at 08:20 pm 1173990000
1173990000

2.79 here. I hate to think of what it will be next week!
AtomicMelanie Says:
March 15th, 2007 at 09:14 pm 1173993253
1173993253

Thankful to be a telecommuter!
living_in_oz Says:
March 15th, 2007 at 11:34 pm 1174001674
1174001674

Note to self: Check gas prices!

We have gasoline hauled to our home and put into our own personal gas tanks...I never think too much about how much it costs since it's a business expense and not "out of pocket". However, I still like to keep an eye on the current price
kimiko Says:
March 16th, 2007 at 04:25 am 1174019104
1174019104

No one seems to question why gas price increases like it did when crude oil is in the mid $50s. Last time we paid $3+ for gas, crude oil was in the mid $70.
fairy74 Says:
March 16th, 2007 at 03:56 pm 1174060583
1174060583

Good point kimiko, I am always suspicious about this. I always notice they can get gas prices down right before elections and then they soar during the summer when everyone is driving around the country, very fishy indeed!
monkeymama Says:
March 16th, 2007 at 10:42 pm 1174084958
1174084958

I just never pass a gas station. I Was thinking today because I took a different route and saw a few - ick. I usually only see gas prices when I go get gas. But yeah, I could keep up a little better - hehe.
LuckyRobin Says:
March 17th, 2007 at 04:56 am 1174107401
1174107401

It's because of the refinery fire a few weeks ago, I think this time it was in California. Even though it didn't effect the supply chain for about two weeks, gas prices shot up right away anyway. They always do. They always come down way slower when things are working again than the supply indicates as well. Just another way to take advantage of the customer. And when I say take advantage, I actually mean screw over, but I'm too polite to say that. Wait, no I'm not.

Anyone else ever notice that these refinery fires, explosions, spills, and accidents all seem to occur when prices have been semi-low for awhile? Never when they are already high. I don't think its my garden variety conspiracy theorist mind, either. It happens far too often.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Gas!!!!

10 Responses to “Gas!!!!”

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