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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

Spendy Day

October 3rd, 2007 at 02:00 pm

Yesterday BM had his checkup and shots so that was $50...

I went with them so we decided to go for lunch afterwards. We went out to Mongolian BBQ (like $12 for the 4 of us since they don't charge the kids though they probably should!!! BM ate more than I).

I probably would have skipped it because I feel broke and because shots took FOREVER but it turns out dh and I both have a focus group this week - $60 each. What the heck - a $12 meal. The remaining $100 or so will go in the bank. Hell, that paycheck is more than my overtime rate would be. So - easy easy money.

My dad e-mailed me our Japan itinerary. How exciting! I was originally worried about the time change, but these days I wonder why. I think I am so sleep deprived that I could sleep anytime and anywhere. We went to NC like a year ago to visit my sister and I remember I slept like 2 days and 2 nights straight. LOL. Anyway, my goal is to sleep as much as possible on the plane (we leave around noon). Since I often sleep the afternoon away I don't expect it to be hard. I just don't want to be awake and uncomfortable. 12 hours later we arrive in Japan at 5pm. I figure I can be awake enough to get to the hotel. Maybe dinner. But then knowing me I could conk out for another 8 hours or so. & then be on track for a day of sightseeing.

I have no idea how I will swing it on the way home. Will be much harder to change back.

In college my husband used to work nights on the weekends. So he would go to school during the days and then flip his schedule every weekend. I thought he was going or die an early death or something. (Lord knows why he never just took night classes). But um, yeah. That will be my inspiration. It can be done. LOL.

Oh well, I have NO IDEA how I am going to get all ready for the trip. I know I don't have much to do, but time is short. Our weeknights are clogged with focus groups, and I had plans Friday night, though we leave Saturday morning! Not sure what I was thinking. I am rethinking Friday night plans. For one I invited my friend over and the house is a DISASTER, but packing seems more important at this point. Maybe we'll meet up at McDs or something - let the kids play. We were actually going to go to the "movie in the park" thing but I worry it will be too cold and late since I have much to do. We'll see!

Posted in Spending, Just Thinking | 3 Comments »

3 Responses to “Spendy Day”

Maismom Says:
October 3rd, 2007 at 03:20 pm 1191424856
1191424856

Jet lag is milder when you're traveling to East direction. The other direction (West bound) is harder. So, you will be just fine : )

Have fun in Japan!
Stein Says:
October 3rd, 2007 at 08:26 pm 1191443172
1191443172

The trick to beating jet lag is to get yourself on the destination time while on the airplane. Since you are landing at 5pm, you want to be tired and ready to go to bed. If you sleep too long on the plane, you will be up all night.

Conversely, if you land in the morning, be well rested. This holds true whichever direction you are heading.

I often take sleeping pills both on the plane and for the first couple of days. Even if I am tired and go to sleep at the right time, I would often wake up in the middle of the night and not be able to go back to sleep. By taking a sleeping pill before bed for the first 3 nights or so, I would always get a full night's sleep.
monkeymama Says:
October 3rd, 2007 at 10:12 pm 1191449570
1191449570

That is probably true for most people but like I said I am so sleep deprived I am not too worried about it. I can sleep all day and then all night too. Plus airplane sleep is never very restful. On the flip side I can not stay up more than a certain amount of time. I just need my sleep in general. BEst would be to stay awake on the plane but I wouldn't be able to.

But you did remind me - I need to pack my dramamine. I need to anyway, but though I don't tend to usually get air sick, I take it just in case (I generally get horrid motion sickness any other form of transport) and if I am for some reason wide awake at night, it will help as well (The drowsy version). I will need it anyway for the subway/bus rides, etc. Good idea!

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Spendy Day

3 Responses to “Spendy Day”

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