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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

Frugal Triumphs/Failures Today

February 7th, 2010 at 04:05 am

What a Day!

Been on go-go-go mode all day, but for an hour of quiet time I demanded from 2-3 pm today.

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This morning I took dh's car with the intent to fill it up with gas. Was going to hit the regular gas station on the way home, but had a 1/2 hour to kill between when aerobics ended and when the bread store opened. Decided to get gas.

Bad idea!!!

I didn't want to drive to far, but utilized the GPS to find something. Not much I recognized, but for a 76. Decided to go thinking maybe that was a cheaper gas station. Price was $3.05, but lord knows the last time I got any gas (it's been weeks). I thought, "yuck," but figured that was the going rate.

To my dismay, I drove past a Chevron later with the price of $2.93. Usually Chevron is the worst, so I wasn't too happy about that. I also found a Valero closer to the bread store. To remember for next time...

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I took the van shopping later and filled it up too. The gas light turned on both the vehicles, just as I approached the gas station. How's that for timing?

I felt that dh's car has been getting terrible gas mileage, but he doesn't agree. !!! Will see... I have never had to fill it up below 300 miles (10 gallon tank). But now it is twice in a row around 270. I suppose it's not a huge difference. This time bothered me more because I have only been driving freeway with it. We can push it 400 miles on the freeway. Ugh. Not that I drove it that much freeway - getting 400 miles form one tank only happens with big trips. But I am not thrilled to see the gas mileage drop either. I have no idea what that could signify (maybe someone has an idea of what would cause reduced mileage?). We had a service in between the 2 bad runs, so I can't say it's anything simple like oil or air filter - it didn't make any difference.

Anyway, used up our last grocery coupon - so filled the van with $2.60 per gallon. Phew!

We won't spend enough on groceries any time soon to get another gas coupon, but we haven't been driving much anyway. When dh is up to driving he will be up to bigger grocery runs. Need to spend $50 or $100 for the grocery store's gas coupons. I suppose it will work out. Heck, I'd have one more coupon but he gave it to his mom. Fair enough.

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Later in the day I took the kids shopping.

At Target I got toothpaste with a $1.50-off coupon. I also stocked up on some pepsi, and bought a toy for the birthday boy. We had bought 3 of these pirate ships for like 75% off from Amazon a while back, and debated giving one of them to our neighbor at his party today. BUT, was already earmarked for other people, so I finally decided to go find something.

Struck gold with a super hero transformer toy thing. $30 full price - but on clearance for 1/2 off. Feel like we are on a roll. I love buying gifts that look way more expensive than they are. Big Grin

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WE also picked up some groceries. Not all the thought, planning, and couponing that dh always puts into it. But I did go for the "old meat" that was 50 cents off (I am cooking it all this weekend anyway) and lucked out with a few sales. Phew.

I mostly got tomato sauce and meat. We didn't really need much - and I already stocked up on bread today...

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I suppose my only frugal failure was that expensive gas. Ugh. Live and learn.

Posted in Just Thinking | 7 Comments »

7 Responses to “Frugal Triumphs/Failures Today”

sweetmama Says:
February 7th, 2010 at 05:31 am 1265520710
1265520710

I love buying nice gifts on sale too! Makes me feel double good.
thriftorama Says:
February 7th, 2010 at 05:57 am 1265522233
1265522233

When my gas mileage goes down, I get an oil change and that usually does the trick and gets it up again. I don't know if that will work for you, but it works with my 200k mile Honda!
baselle Says:
February 7th, 2010 at 08:01 am 1265529688
1265529688

I wouldn't beat yourself up over the gas - ($3.05 - $2.93 = 12 cents over x 15 gallons = $1.80. Next time!
Jonesie Says:
February 7th, 2010 at 02:38 pm 1265553517
1265553517

It could also be your tires. If the tire pressure is low, that impacts gas mileage.
monkeymama Says:
February 7th, 2010 at 03:49 pm 1265557799
1265557799

Actually - only 10 gallons - so less than that Baselle. $1.20. Still sucks!

No - oil change was just done (didn't help) and tires are maintained. (Were just filled with oil change anyway).

Any other ideas?
monkeymama Says:
February 7th, 2010 at 04:01 pm 1265558511
1265558511

Okay - I double checked. Dh had a slow leak from way back. Too slow to bother with. SO, I just checked and that tire was down 10 pounds. If they really filled it with the oil change, then the leak has sped up, and that probably explains it.

Will get the tire fixed... Glad it's probably something simple! (& nice to figure it out before I get a flat!)

Thanks!!
sweetmama Says:
February 9th, 2010 at 06:38 pm 1265740721
1265740721

Do you need new spark plugs? Have your muffler/exhust system checked for any damage.

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Frugal Triumphs/Failures Today

7 Responses to “Frugal Triumphs/Failures Today”

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