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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

Back to School Shopping

July 5th, 2010 at 12:12 am

A big year I suppose, with another one entering grade school.

I picked up a lunch box at Walgreens the other day. Same one that BM has - I like the size for our tupperware, and it has been holding up well. $10.

Today, I did some shopping at Hanes.com. Cheapest place I can find all the school shirts/sweatshirts. We do the polo shirts (school dress code), sweathshirts for winter (thankfully those are allowed) and a jacket. I bought 8 shirts and 5 sweatshirts in the next size up, keeping in mind I want them to last for 2 kids. They don't really need so much, but the small size had lasted BM for 2 grades. Moving on to medium for him.

They averaged about $5 per shirt, shipping tax and everything. Phew!

I found a jacket for $24.99 at Sears. I can't find any free shipping codes or anything, so may send dh to look in person. I got a similar jacket for BM, and looks like he may get 3-4 years out of it. (Probably bought on the large side!)

Will need a backpack, and then will have to consider the pants/shorts situation. Probably can hand down BM's and buy bigger stuff for him. He still has shorts from 2 years ago...

Getting there.

Anyway, I like the easy online shopping. The rest won't be so easy. Pants and shorts will need to be tried on. I suppose I should peruse backpacks online.

Posted in Just Thinking | 4 Comments »

4 Responses to “Back to School Shopping”

jolie Says:
July 5th, 2010 at 12:33 am 1278290012
1278290012

When does school start back for you? We just got out on June 30th so I don't even want to think about back to school yet LOL
Miclason Says:
July 5th, 2010 at 02:28 am 1278296885
1278296885

LOL! I found "school" Hush Puppies at $6 today. Sadly, the largest size fits DD perfectly NOW...and she still has over a month before entering school... I�ll keep looking, though! I might have to go with women�s size 6 already though! (yep, she now wears the same size as me!)
Homebody Says:
July 5th, 2010 at 02:16 pm 1278339379
1278339379

Aaah those days are over for me....with 3 girls it was not a good thing!
MonkeyMama Says:
July 5th, 2010 at 03:28 pm 1278343695
1278343695

School starts early August.

I am usually the opposite of a procrastinator, whatever that would be. This time, nope, it's really just right around the corner, which is freaking me out a bit because I am not as prepared as usual.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Back to School Shopping

4 Responses to “Back to School Shopping”

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