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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

Low Key Weekend

August 30th, 2010 at 02:45 pm

**The weather Gods were super nice to us. We had an all day soccer tournament on Saturday. It never got hotter than 75F. About 30 degrees cooler than average?

Definitely the coolest summer day, in decades.

**Yesterday I scrubbed the floors. Which is something I never have (make) time for. So, this means, I am feeling pretty caught up.

BM has a hand-me-down desk in his room. I was making sure their rooms were picked up and vacuumed, when I asked BM if he wanted to move his homework to his desk. For now, he has taken over the kitchen island, which is fine. He can be with the family and ask questions while he does homework. But, at the same time, he usually doesn't need much help, and might as well use the desk in his room.

**For the long weekend next weekend I Was thinking I really need to do a Goodwill sweep throughout the house. I found a couple of things around the house, and the kids' room just seems piled high with junk. They don't have a LOT of toys, but there are just little happy meal and birthday party favor type crap all over the place. I just despise that stuff. I swear we just threw away a bag of useless crap. I have NO IDEA where it all comes from!!!!

I just need to go through every room and make another pile.

**Nickel and Diming continues. LM's teacher asked for $5 for a project. Soccer asked for a $10-$30 clinic. We are passing on the time and money for the clinic. I have the means to handle all this stuff, but I can tell having the 2 kids in school is just going to compound everything. Plus, the extra-curriculars are asking for more money with budget cuts, too.

I know the new Kinder parents enthusiasm for parties and stuff will annoy the hell out of me.

**Dh has already volunteered 6 hours at Scholastic since school started. He is committing 1 hour a week to each classroom, and a couple of hours a week at the public TV station (in addition to the long weekend/night pledge shifts he always does). Plus, he is making progress on home video edits and such. He is keeping plenty busy. We may not be made of cash these days, but I think we are doing our fair share to help.

Posted in Just Thinking | 4 Comments »

4 Responses to “Low Key Weekend”

momcents Says:
August 30th, 2010 at 03:01 pm 1283180511
1283180511

Boy, I'm right there with you on boycotting the first-time around Kinder parents (I've got them in 7th, 6th, 3rd, 1st, and again K). And as far as sports thru the Park District and the YMCA, I've learned that I only need a 5x7 team soccer photo rather than the grand packages. A $.59 sheet of scrapbook paper plus $.99 for a pack of stickers plus several action shots from their games cost WAY less than the $35 packages!
MonkeyMama Says:
August 30th, 2010 at 03:55 pm 1283183724
1283183724

Momcents - they were annoying the first time through - I can't imagine the 5th time through. I swear, the kids have a party every single week at school. They will celebrate anything and everything. Gee, it always cost money. I should suggest we tone it down and donate that money to the class or school, instead. Just doubt it would fly.
momcents Says:
August 30th, 2010 at 04:20 pm 1283185222
1283185222

We got a new principal two years ago (she came from the Chicago Public School system to a lily white Catholic school). She let the parties stay, but mandated a service project component (making Valentine's cards for the nuns at the local Convent, making bags of candy for the kids at the homeless shelter, making baby buntings for the unwed mothers, etc). I thought that was the best thing ever, to bring some meaning to the events. Room Mothers had a cow though, that they couldn't finish their over-complicated Oriental Trading Company projects or they couldn't get through their full game circuit, etc.
rob62521 Says:
August 30th, 2010 at 11:42 pm 1283211748
1283211748

One thing a school I used to work for did instead of having gift exchanges at holidays was to ask kids to bring in the money they would have spent on a gift and they pooled it and then the kids picked a committee from their class to choose board games for the class to use during indoor recess.

I do like the service project idea! I used to have my students make cards for vets at a veterans' hospital for every holiday and would send them over.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Low Key Weekend

4 Responses to “Low Key Weekend”

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