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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
...($1,250 @ 3/31/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 3/31/24)
...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 @ 3/31/24)
...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

Bought Skates!

June 19th, 2010 at 08:02 pm

So, I had been perusing used options (very open to them), but I have unusual-sized feet. So basically, if I were a size 6 womens, I'd have my pick of Craigslist. (I literally saw at least 10 pairs for sale?)

Of course, I was no where near giving up. I've only been skate shopping a few days! BUT, while perusing skates I did find brand new ones for $30 (on sale, at amazon). I couldn't resist. They were 40% off, and rated very highly.

A good deal. Now I only have to go to the rink 15 times to breakeven.

My parents agreed to buy BM some skates, for his B-Day in a few weeks. I didn't see any for sale, and next month I will probably run him by the used sports shop. It's one thing to spend $30 on a pair of skates I intend to keep forever. As far as BM, he may outgrow them in 5 minutes, BUT at least LM can use them too. I am just buying BM skates, and LM will have endless hand-me-downs if we stick with it. I do hope it is easier to find his size used. Looks unlikely, but will see! Even though it won't be my money, I will still try to get the best deal.

I did get Men's skates, for my big feet. Works out, since I liked the colors better anyway.

Posted in Just Thinking | 4 Comments »

4 Responses to “Bought Skates!”

Homebody Says:
June 19th, 2010 at 08:08 pm 1276978138
1276978138

Good investment! I never did learn how to skate. It always looked like fun.
jolie Says:
June 19th, 2010 at 10:34 pm 1276986876
1276986876

Skating is a great sport to learn and one you can do for a lifetime. Those are very reasonable prices for skates. My DS1's cost about $600
frugaltexan75 Says:
June 19th, 2010 at 10:56 pm 1276988194
1276988194

How fun! I've tried skating a few times, but am just not coordinated enough.
Judi Says:
June 19th, 2010 at 11:08 pm 1276988909
1276988909

Love skating, Jolie is so very right, it's an amazing family activity...from age 2 to 92!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Bought Skates!

4 Responses to “Bought Skates!”

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