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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

Christmas Outside The Box

December 6th, 2011 at 03:31 pm

We put up our Christmas tree, set out the gifts, and there you have it.

Anyway, I have been noticing more and more that *thinking outside the box* can be such a small difference in thinking. I think sometimes people equate the sentiment of thinking outside the box with being extreme. Frankly, really small differences in thinking can make a huge difference.

Example? I was reading a discussion about Christmas on a non-financial message board. The question was how to scale back Christmas. IT became obvious from the discussion that several people did not think "Santa" could be part of Christmas at all unless you wanted it to be a very materialistic affair.

???

I was raised with a very different Santa concept. Santa generally leaves our kids books that we got for free. Wink "Santa" pretty much just does stocking stuffers, at our house.

OF course, there was also talk of peer pressure. Mind you, these were parents with young kids. 1 - I haven't noticed much Christmas peer pressure with my 6yo. 2 - I never knew growing up that there were people out there getting TONS of gifts from Santa. I simply didn't know we were so weird.

I just think parents put a lot of unnecessary pressures on themselves. & put unnecessary limits on themselves. For example, thinking that Santa is the symbol of uber materialism, and the only other option is to drop Santa altogether. Thankfully there is a ton of middle ground.

BTW, there was a similar discussion in the SA forums, but there was a wide variety of ideas in that discussion.

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

Anyway, don't feel sorry for my kids.

A - One of those presents is a 3D Nintendo DS (free with credit card rewards).

B - Though I grew up in a house with extremely modest Christmases, my spouse's family is the polar opposite. The in-laws (Dh's mom and Grandma) go CRAZY at Christmas, and for them it is all about the materialism. As a result, dh agrees with my extreme "modest Christmas" ways, and no one else in the family particularly sees the point to buy my kids gifts. It's important to the in-laws, because it symbolizes being able to splurge and make their kids' and grandkids' material dreams come true, once every year. So basically, the kids will be spoiled rotten. I might be a little more open to actually buying our kids big Christmas gifts otherwise (maybe one each - something BIG), but we generally don't get them anything extraordinary. It's not like anything we buy them would mean anything after the in-law deluge.

C - Funny enough, my extraordinarily creative husband and child wrapped most of these gifts. Rolleyes Since having kids, we will never lack for pencils, crayons or stickers. IT never ends! So I will offer the idea for the kids to decorate the packages, later. The plain paper comes from dh's "I could care less about wrapping" attitude. I actually wrapped his present with underwear models from a Kohls ad - that one is the colorful one.

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

I don't think our Christmas is terribly *outside the box.* We have a Christas tree and presents just like anybody. But Christmas is not at all about worrying about what other people think about us, that is for sure. It's about creating a holiday tradition that works for us.

Posted in Just Thinking | 8 Comments »

8 Responses to “Christmas Outside The Box”

ThriftoRama Says:
December 6th, 2011 at 08:11 pm 1323202284
1323202284

Love it.

My mom is the one who goes crazy with gifts, although once again this year she claims to have toned it down. Last year, that meant only one carload of gifts. Seriously.

But, she also gets mad at me for buying the kid's used gifts on craigslist. But there are so many great toddler toys out there, why buy new? They don't care, and I can get them fewer, better things!

Hubby today said he loved how I'm making every holiday into a season of activities for the kids. I think it's the best compliment he's ever given me.

I usually do several weeks of special movies, coloring sheets, craft projects, and themed baking before each holiday. Hubby said it has made him enjoy Christmas, rather than think of it only as the orgy of gifts at the end. It gives the kids real things to do, lotsof things to look forward to, and makes it an entire season of fun with less focus on the gifts on Dec. 25.

And, your post made me think of this:
http://motherjones.com/politics/1997/11/christmas
pretty cheap jewelry Says:
December 6th, 2011 at 10:32 pm 1323210769
1323210769

"season of activities for the kids" & "orgy of gifts"
GREAT quips I am stealing - hee hee (will give credit to this webpage don't worry)
ThriftoRama Says:
December 7th, 2011 at 02:21 am 1323224460
1323224460

Steal away! My hubby will be flattered.
frugaltexan75 Says:
December 7th, 2011 at 02:51 am 1323226260
1323226260

If my brother or I ever have kids, I imagine my mother would go way overboard with the gifts (along with the other family members ...) while either my brother or I would go with the "less is more" philosophy. We were bombarded with gifts growing up - and even into adulthood.

example - While I was at my mom's over Thanksgiving, I saw an advertisement for a portable speaker which I thought would work well with my iPhone in the car. (I have no radio in my car.) I mentioned wanting to stop at Bed Bath Beyond to look at it - a $20 speaker with $5 coupon. Mom speaks up and says she'd like to get me it for my birthday ... A couple days ago I get a call asking me for specifics on what I need .. find out that what she's getting is closer to $50!!
ThriftoRama Says:
December 7th, 2011 at 03:05 am 1323227107
1323227107

My mom is the same way. I casually say I like something, and she thinks I need to own it, or have everything in my house in that theme. For instance, I bake a lot of gourmet cupcakes for gifts and events, and my mom shows up with a 2012 cupcake calendar, and one of those stupid tiny ovens kitchen gadgets designed to cook a dozen cupcakes. Um, I have an oven. Why do I need a cupcake gadget to do what I'm already doing? She means well and I hate to hurt her feelings, but I'm to the point where i have to say now. I try to redirect her, but she doesn't think the icing decorating tips are as "fun" as what she has chosen, even though I would actually use them!!!
Looking Forward Says:
December 7th, 2011 at 05:19 am 1323235150
1323235150

MIL is the crazy over-gifter in our family. Thrift's mom sounds a bit like her. She is getting better over time.
Our kids get sooo many gifts from family and friends it's wild!
I think my DH would like girls in underwear as his wrapping paper.
pretty cheap jewelry Says:
December 7th, 2011 at 06:18 pm 1323281909
1323281909

HAH! thriftorama, that cupcake appliance is shown
Text is here and Link is http://www.treehugger.com/green-home/just-what-we-needed-department-6-items-to-leave-off-your-2011-holiday-gift-list.html
here as #4 of ridiculous things NOT to buy this year
LuckyRobin Says:
December 7th, 2011 at 11:33 pm 1323300783
1323300783

We don't have any crazy over-gifters in our families. We used to, MIL and FIL would go nuts, but after basically all the overtime disappeared at FIL's job a few years ago, they had to learn to live on a different salary and now they are much more modest in their giving.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Christmas Outside The Box

8 Responses to “Christmas Outside The Box”

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