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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.

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

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."}

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My Pages

Closet Progress...

October 5th, 2009 at 12:56 am

I am testing the limits of how many photos that SA will let me upload and store. Big Grin

I prefer to use my cell phone so I don't have to edit them down though.

Well, I am taking a break for dinner. My back hurts and this step took longer than I thought it would. Not sure why. Not sure why I didn't realize it would take so long. This was just the "surface cleaning." What I really want to do is dig through everything in the closet, and do a round of freecycling, etc.

It shouldn't be too bad, I have been through the closet in more recent times. BUT, I find I often need a little bit of time to let things go. Maybe a few runs through the closet. So though it is manageable, I know I can toss more stuff!

Anyway, there's a floor!

I took all my clothes off the lower half of the closet. I've got 2 sides of the closet - dh gets one. Hell, I don't think he ever wears the clothes he has hanging up. Was from when he was working.

I am embarrassed at how many clothes I ended up donating. & what is with all the hangers?? A bag of hangers too. So yeah, 2 bags of clothes, and about a 1/2 bag full of plastic/cheapie hangers. I think these days the stores I shop are less stingy with hangers. All I Could figure.

I did go through all my clothes - those in drawers in my bedroom as well.

A lot of the stuff I haven't worn in MANY years. Thing is I swept through the closet a few times, pretty aggressively, in the last couple of years. But there was still a lot of pruning to do.

One example is a robe that I love and is fine. But it is bulky and I never wear it since I bought a new one (a cute monkey one, of course). Into the pile it went!

I got rid of a lot of stuff that was pretty worn out, that never really fit well, or that I really like but had shrunken, etc. I could maybe fit into them again, but it hardly seems worth keeping any more. I tossed a lot of low quality clothing. A LOT I have been finding I spend a lot less on clothes now that I focus on better quality. & don't get me wrong, I still primarily shop Kohls and places like that. I don't shop higher end stores. BUT, I will probably never buy adult clothes at Target again. Nor anything on those shelves of $10 clothing at Kohls/Mervyns. They just fall apart too quickly.

I have much better luck with clothing quality at Marshalls and Ross.

Now my clothes fit better and they don't shrink as much, etc., etc.

It's this realization that made me realize the crappy stuff will always be crappy. Time to let it go!

I also let go of some shoes. I guess their problem is discomfort. So I never wear them. But I might *need* them sometime. Old thinking, anyway. Some of those I have had for over a decade too.

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

I found a good spot for my clothes drying hanger thingy-do. It's usually kind of in the way, but I found I could fit it just about against the wall, in the center of the back. I think that actually will work out pretty well.

Anyway, the entire left side of the closet is just dandy.

The middle/back has a few things on the shelves. Nothing much.

The whole right side of the closet is a nightmare. Lord knows what is over there.

We shall see! I'd love to at least get my trash/donate/sell piles by tonight. Sometimes while cleaning the house there is a whole messy stage in between. Anyway, my house is filling with bags, that is for sure. At least it is contained, and ready to be shipped out.

I'm probably optimistic, but will see.

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I didn't work "too hard." I got sucked into a movie while I was eating lunch. I had a fair amount of down time!

I am also thinking I am going to slow way down M/T/W. I was thinking of inviting my folks up because it would force me to scrub the gust bath and clean up the kitchen and living area a bit. Followed by a nice relaxing day anyway. So that might be a good strategy. Tomorrow I will at least have to leave the house so I don't go crazy.

Posted in House Stuff | 7 Comments »

7 Responses to “Closet Progress...”

LuxLiving Says:
October 5th, 2009 at 01:38 am 1254706684
1254706684

Finding the floor is always nice.

What's the old saying, 'to bake a cake, you have to break a few eggs'? We are in messy stage too - drawers from chest everywhere throughout the house and the stuff that came out of them is stacked in the spare bedroom, and drapes and curtains down in living room as we seek to get caulking, spackling & painting done before we put them back up. A little madness for the duration of the projects!
craigthor Says:
October 5th, 2009 at 01:39 am 1254706774
1254706774

Looks organized. My wifes walk in closet in the master bedroom looked like you before picture. Now shes getting through it slowly but surely but this is the first time I've seen her actaully purge stuff out. Someday I may be allowed a shelf or 2 in the master closet.

Craig
Broken Arrow Says:
October 5th, 2009 at 02:23 am 1254709423
1254709423

You could turn down the resolution of a camera if you want, but the cellphone works just fine it seems.

The closet looks good!
monkeymama Says:
October 5th, 2009 at 02:25 am 1254709505
1254709505

Craig - hehe. To be fair, my spouse has a lot of crap in there. Just not clothes! & clothes is pretty much the only thing I hoarde these days.

Lux - I haven't heard that saying. That's a good one!
creditcardfree Says:
October 5th, 2009 at 01:22 pm 1254748971
1254748971

Great job! Sounds like you did a really great job purging stuff, too. I'm sure it feels great to have accomplished all that you did. Will your DH notice?
monkeymama Says:
October 5th, 2009 at 02:21 pm 1254752507
1254752507

Yes, he will definitely notice.
frugaltexan75 Says:
October 5th, 2009 at 09:53 pm 1254779581
1254779581

It's looking really good!

I'm guilty of buying the cheap clothes from Wal-mart and Target - right now it doesn't matter too much. Later on I'll need to get better quality items.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Closet Progress...

7 Responses to “Closet Progress...”

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