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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

Yup, newer cars are overrated

April 26th, 2007 at 04:31 pm

I came to the conclusion a while ago that our very old cars were much better purchases because we could afford so much more quality.

& anyway, today I am left feeling really annoyed with our van and wondering if we sacrificed too much quality for something "newer."

I am just aggravted. I am not sure what the final bill was - should have asked - but fixed the window and the mirror. & the oil change for convenience. But the power locks is something entirely different (I figured it had been related). Though I am glad it is not an overall electrical system malfunction, the part that needs to be replaced still is about $350. Mechanic said maybe I should just take it in to the dealer, might have to anyway to program it. But the principle really gets to me, that they make cars these days that only the dealer can fix. I ain't playing the game. I discussed it with dh and he said, well, odds are the dealer will screw you over. True. Kind of my feeling. Mechanic is old friend of family, on the contrary. So we will have him try to fix it - but the part won't be in until next week. In the meantime it is such a PITA to not have power locks. I would not mind so much if there was keyed entry on the passenger side, but there isn't. & we can't really figure out how to keep the back locked, without power. Considering we live in auto theft central, I really want my door locks back!

I think the grand total when all is said and done will be $1k. Absolutely ridiculous. I have just never had such a new car before and NEVER had these kind of stupid repairs. Is it too much to ask that the power windows and power doors last more than a couple of years? Have I ever spent $1k on car repairs in one service? Probably not? My last cars were old, but they had power doors and windows that worked for decades!

Overall I guess my standards are pretty high. HAven driven a 20-year-old Toyota with little problems, and the same with our Saturn, and our cheap little Escort, I am just not pleased with the Dodge Caravan thus far.

Oh well, at least the mirror is my fault - I broke it. There is something.

Well, we'll see. Have to take it in again next week when the part arrives. & then schedule for service at the dealer too. Times like these it is just nice to have a 2nd car and a spouse who doesn't work - to chauffer me around and overall not too much nuisance to my work day.

Well here is to better car days...

I haven't completely ruled out selling it, pocketing the change, and buying my camaro instead. LOL. Or even just an older Japanese model.

ETA: Since I can't comment I will comment here - LOL. Thanks for the tip - yup - we have the 05 Grand Caravan. Very Interesting. I will have dh call around and see if we can hold off on the part in the meantime - if he can cancel the order!

& that's what I mean - what's the point of buying new if you can't afford quality? Or you don't want to spend it anyway. Oh well, I feel we are on track to buy better next time. I should just feel lucky the Ford has held up so well, it was dirt cheap! Helps offset it a bit.

Posted in Just Thinking | 4 Comments »

4 Responses to “Yup, newer cars are overrated”

Money Saving Army Wife Says:
April 26th, 2007 at 05:57 pm 1177610222
1177610222

We had a problem with the auto-locks on our 2005 Dodge Grand Caravan last year and called several of the dealers in the area because the mechanic said that it was a computer problem and he didn't have the updated system to fix it. Two of them said that it would cost $450 because they had to completely replace the computer but the third said to bring it in so they could see if they could just re-program it. We did and he was able to fix it in 20 minutes for only $39! I don't know if it's the same problem, but it might not hurt to call around to the dealers and see if it's just a problem with the programing. I know a lot of dealers are slimy but there are some good ones out there!
homebody Says:
April 26th, 2007 at 08:39 pm 1177619957
1177619957

My 1994 Plymouth Voyager power locks don't work anymore. We have to pull up on the door handle on the outside the same time as pulling up on the lock on the inside on the passenger side. It's kind of funny. The power windows still work though. Going on 180,000 miles, original transmission and engine. I'm definitely getting my money's worth from this dang van.

Good luck!
zetta Says:
April 26th, 2007 at 10:08 pm 1177625293
1177625293

I wonder if the problems you are seeing aren't so much due to new vs old car or the price level -- seems to me the used cars you've had have been mostly Japanese, while the Dodge is an American car. The American manufacturers are supposed to have made great gains in quality, but I'm still biased toward the Japanese cars as having better quality and a longer lifespan. My husband had many more problems with a 97 Camero he bought new than I ever had with a 91 Nissan and a 97 Isuzu I bought used.
Broken Arrow Says:
April 27th, 2007 at 03:40 am 1177645224
1177645224

My car is all-manual, down to the hand-cranked windows.

But then, I can't complain because it's still working beautifully.

I must have reliable cars, but then, my needs aren't so high to being with. My next car will probably be another subcompact or sedan from Honda or Toyota....

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Over Prepare, Then Go With The Flow

Yup, newer cars are overrated

4 Responses to “Yup, newer cars are overrated”

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