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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.

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

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.

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

**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."}

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

My Pages

Chase Card

December 8th, 2010 at 12:01 am

I got a notice that a Chase statement was ready to view.

I looked to make sure my final payment hit. It had.

I had 1700 of some sort of other rewards/points. I didn't expect I'd be able to redeem anything, but was able to redeem for a $10 Target gift card with just 1000 points.

I think my Fidelity is still looking much more lucrative! But I am happy I squeezed out one last reward - I really thought I wouldn't be able to redeem my small balance. I only spent $150 or so, last month. (Some of the points must have converted over from my old reward system, which was different).

I just redeemed a $250 check under the old system - last month - so wasn't going to sweat not using every last point.

The Target card was a nice surprise - will use it for groceries.

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

Dh got a $10 off gift card from Safeway today (spent more than $75?) and also earned a $1.50 off coupone (Safeway) - he isn't sure why. Something he bought...

We really don't shop Safeway much at all any more. It's gotten so expensive! Dh still gets gas there though.

At our main Grocery store (local/regional) we get 25 cent off per gallon gas every time we spend $100. So I fill up the van there (16 gallons at a time) and dh usually hits Safeway for 3 cents off a gallon.

Posted in Just Thinking | 8 Comments »

8 Responses to “Chase Card”

Petunia Says:
December 8th, 2010 at 12:24 am 1291767861
1291767861

I'll bet you received your quarterly bonus points. During the quarter, you receive 1% on everything, when the quarter ends you get an additional 4% for that quarter's bonus categories.

What sort of deal is Fidelity giving you?
Petunia Says:
December 8th, 2010 at 12:25 am 1291767944
1291767944

BTW, I think we're neighbors. My BF lives in Davis, I live in Modesto.
librarylady Says:
December 8th, 2010 at 12:34 am 1291768449
1291768449

We get 10cents off per gallon buy shopping at Kroger. It helps!
MonkeyMama Says:
December 8th, 2010 at 12:51 am 1291769516
1291769516

Petunia - howdy neighbor!

Fidelity is 2% "Cash back" on everything, into a Fidelity account. I am putting it in my ROTH and expect about $500 per year.

Chase has been lowering my rewards and trying to charge annual fees, so I am just ditching them. I looked at the rotating categories and many are ones we don't use, so doesn't much appeal to me.
ThriftoRama Says:
December 8th, 2010 at 02:37 am 1291775832
1291775832

I use the Schwab visa for cash back into an investment account and it's worked out great. You do have to keep tabs on those rewards though. They can be tricky.
Petunia 100 Says:
December 8th, 2010 at 03:37 am 1291779428
1291779428

Yes, 2% on everything is a rather nice deal.

I have a Chase Freedom, and thus far have not been slapped with any annual fees. I also have a Wells Fargo Visa which is 1% on everything, credited to my WF mortgage. I like your Fidelity card better.
FrugalTexan75 Says:
December 10th, 2010 at 04:45 am 1291956303
1291956303

Petunia - thanks for mentioning that Chase rewards the quarterly points on a quarterly basis. I didn't realize that ... I also have Chase Freedom, and *knock on wood* am not being charged an annual fee.

MonkeyMama,
Sounds like you and your DH have been getting some good deals!
MonkeyMama Says:
December 10th, 2010 at 11:45 pm 1292024714
1292024714

Yeah, on my Chase Freedom they told me last year (18 months ago?) that they were going to take away my lucrative awards and start charging an annual fee.

I declined the changes, and they let me keep going for another 18 months. Now that they changed my rewards, I figure it is a matter of time before they try the fee thing again.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Chase Card

8 Responses to “Chase Card”

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