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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

Appearances are Deceiving

July 6th, 2008 at 02:36 pm

Was having a discussion with our neighbors about local grocery stores.

The local/big grocery chain is Raley's/Bel Air.

It is a somewhat upscale grocery store chain.

We do also have a Safeway (which was much later in coming). Albertson's went out of business.

Anyway, as the Raleys and Bel Airs get closer to our home, and the other stores dissolve, we have been frequenting then MUCH more.

I think initially we rather avoided them. In fact, we were very disappointed with their selection. They didn't carry a lot of products that we buy (& we really mostly buy boring, average stuff. LOL).

But when one opened up within walking distance, and no one else seemed to notice (the place is largely a ghost town) we got hooked on Bel Air.

Around the same time they totally changed their marketing strategy. From "upscale" to "low price leader."

Though their stores are still VERY nice, has unparalleled customer service, and has its share of expensive food, we have also found it one of the best places to bargain shop.

So we were sitting around chatting about grocery stores with neighbors and they were all going on how expensive Bel Air was.

Um, we actually find Safeway to be MUCH more expensive overall.

I couldn't help but wonder what they were buying. LOL. BEcause what you buy will make all the difference at either store.

But I also wondered if they even pay attention to prices at all - or just judged by appearance.

I find the whole thing very interesting.

I have friends with double the grocery budget who hit up Costco, Sam's Club and Trader Joes, thinking they are doing quite well.

I hate to burst their bubble when I say we spent half as much at Bel Air last month. LOL.

Of course Costco is something we could never really justify with the cost of membership. We always thought, "Maybe that will make more sense when we have kids." & I think it might, on some level.

But it is interesting to join a community like this where the overall conclusion seems to be that Costco was over-priced.

Costco = Over-priced?
Bel Air = low price leader?

Who would have thunk?

I guess this is when it pays to look past the marketing, and to really look at the prices.

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

Reminds me...

I had given up on price books because there is just not enough hours in the day.

But I did photocopy a grocery receipt to share here. I kept a copy and I think maybe that is what I will do going forward, keep copies. It isn't terribly organized. You kind of wish the stores would alphabetize their receipts.

BUT I think it is better than nothing. It gives me something to look back over.

So I am going to work on my very lazy, half-hearted price book. Just keeping receipts.

Curiosity has gotten the better of me lately, with rising grocery prices. But I don't have much to look back on, as far as what we paid historically. So this will be MUCH better than nothing.

Posted in Just Thinking | 10 Comments »

10 Responses to “Appearances are Deceiving”

ANonnyMouse Says:
July 6th, 2008 at 03:11 pm 1215357117
1215357117

IMNSHO opinion, Costco is NOT over-priced. Simply put, you are generally buying in bulk.

For perishable items, this may not be ideal, but for non-perishables, it is perfect.
Swimgirl Says:
July 6th, 2008 at 03:16 pm 1215357383
1215357383

I think Costco is absolutely cheaper on almost everything. BUT your grocery bill there will increase if you buy movies and flowers and books and toys and chips and candy and gum...

Costco's per pound price is close to half what it is at Bel Air for most fruits, chicken, ground turkey, butter, cheese, flour, sugar, rice, yeast, chocolate chips, baby carrots and I'm sure there are more items, but that's what I buy. Oh, flour tortillas and Orowheat bread. I shop very carefully, and I have a large family to feed.

I have a "loop" that I make, hitting 5 different grocery stores (Nugget, Costco, Safeway, BelAir and SaveMart) in a short period of time, to take advantage of the sales. I don't get to it every week--depends on what's on sale. I agree that Safeway is probably the most expensive, although they work hard at making you think you're getting a good deal.

Nugget is more of an upscale store, but I don't think it's more expensive than the others (and the produce is MUCH better so I buy there if I can't get to the farmer's market or don't have it in my own garden.) It depends on what you buy, and I buy almost ZERO convenience foods. Occasionally I'll buy a box of granola bars if they are cheap or goldfish crackers for the kids, but not often. I make nearly everything from scratch and we eat lots of fruits and vegetables.

I save my receipts and tape them into a notebook. Not really organized, but I know where they are and can check prices if I'm not sure.
gamecock43 Says:
July 6th, 2008 at 03:39 pm 1215358769
1215358769

I think peoples perceptions are formed on first impression and it takes an informed and motivated person to 'determine' what store is cheaper. You would need to compare alot of items at both stores, my thats alot of papoerwork. So the neighbors may think its expensive because of the pricey storefront. And they are used to thinking, complaining its expensive and no one has ever argued it. Until you.
Koppur Says:
July 6th, 2008 at 07:21 pm 1215372109
1215372109

Our Costco is way too overpriced for us. Even buying in bulk, we get better deals per unit cost at one of our small stores.
Swimgirl Says:
July 6th, 2008 at 08:33 pm 1215376390
1215376390

Koppur,

That is interesting. Here in N. California, Costco is by far cheaper than the grocery store for most items, if you are willing to buy in bulk. When we lived in the DC area, the same was true. I had assumed that Costco prices were fairly similar nationwide... who knew?
Swimgirl Says:
July 6th, 2008 at 08:36 pm 1215376606
1215376606

Oh, and I easily make up the $50 fee in a few months. And no, I don't work for Costco! But for our large family, we can't beat the deals. Heck, I make bread most of the time, but if I bought it all ... it would probably save $10 a month at Costco just on whole wheat bread!

Monkey Mama, maybe things at Costco have changed since you last checked?
monkeymama Says:
July 6th, 2008 at 11:46 pm 1215387982
1215387982

No, mostly I have no desire to buy in bulk. We would never get through it all. My perspective with a small family is it makes little sense. Though I could see a few items we could come ahead with, it wouldn't be worth the fee.

Obviously it is very different for a larger family. & depends how you cook.

My observations were really more about IRL - how people go on how great Costco is but spend twice as much on average, for the same # of people. Obviously they are buying a lot of stuff they don't need; or wasting it, etc. I would expect savingadvice shoppers to be a little different. Though I haven't seen many Costco supporters here, so interesting to see them come out of the woodwork.

I won't be a Costco convert any time soon because we don't have one anyway. So it's all kind of moot for me. I mean it is just of great inconvenience for now - we could go if we REALLY wanted to, but 40 miles round trip is a bit much for me. So we would obviously reconsider more if they opened one up closer (which they might). Also, sk me when I have two teenage boys. I can't believe how voracious their appetites are, as is. LOL. But for the most part we really just don't consume that much food, at this point.
baselle Says:
July 7th, 2008 at 01:41 am 1215394861
1215394861

Saving receipts is very time honored way to do a price book. Fold 'em up and glue stick 'em into a little notebook and you are good to go.
YMMV as far as Costco is concerned. From Seattle (the belly of the beast) the only regular deals that I've really gotten is on clothing, batteries, and a lunch of samples . Canned goods sometimes. Canned tuna never - regular grocery stores usually whup Costco's arse in tuna. Produce can be a deal, but we don't eat it fast enough AND its always wrapped in plastic wrap so not only is it a gamble, it ages a lot faster.

Plus you have to drive there, and since either you feel like you have to or end up filling the back of your car, we don't go there enough to justify the $50 membership.
Livingalmostlarge Says:
July 7th, 2008 at 06:41 pm 1215456112
1215456112

Absolutely a costco supporter and it's just DH and I. I know for a fact it's a money saver in Southern CA. Problem is if you don't have a gas station it's not as much. I made back the $50 in less than 1 month driving in Southern CA using the gas stations. At 10-20 cents less a gallon it was a VERY large savings.

Now for us how to shop at costco? Well we buy all our meats and seafoods there. It's cheaper and I portion it out for the week. I buy one meat and use it all week freezing what we don't use. I make multiple different dishes.

This week I bought ground beef for $1.99/lb (12% fat, normally in store it's 20%+ for this price) and pork loin boneless for $1.19/lb. So I will use the beef for burgers tonight, tomorrow is pork loin grilled with asparagus, wednesday is ma po tofu with ground beef, thursday is indian massaman curry with ground beef, friday is pork tonkatsu. Everything has leftovers for lunch.

Very cheap meals, all meals rounded out with either broccoli florets, asparagus, and bell peppers or salad.

So try pricing out the meats. I get whole chicken for 35 cents/lb when on sale at Costco. Also boneless chicken breast is $2.29/lb frozen and at the store I have to wait for $1.79/lb. Sure it's a loss leader but I have to wait for it. When it comes I buy it and stockpile. But if I want chicken breast? I just buy it at costco for half the price.

I use a price book, and have for a long time. So I know what's a good price in the store. And Costco can't be beat for meat.

Also with steaks and beef is Choice, in supermarkets you are paying more for Select! I can taste the difference in the steaks. You can feel the toughness.

Check this out. http://dangerouslydeliciousrecipes.com/blog/?p=123

I was also told by many others about the choice versus select.
monkeymama Says:
July 7th, 2008 at 07:35 pm 1215459328
1215459328

You know, in Northern California the gas is not very good at Costco. Today I paid 20 cents less at Bel Air actually. Plus it was on the way to work as opposed to 20 miles away.

I am sure the gas is well worth it for many, but not the case here at all.

Lately they just price the same as Arco (& there is an Arco on every corner).

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Appearances are Deceiving

10 Responses to “Appearances are Deceiving”

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