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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

Christmas Spending

December 24th, 2011 at 02:13 pm

Spent about $250 on Christmas this year.

Of course, it is also birthday season here, so includes a lot of birthday spending.

In addition, donated $200 cash to charity. I usually just apply some of the gifts/bonuses we get to charity, so don't usually count it as a Christmas expense. BUT, with all the credit card rewards, we spent so little, so I just paid out $200 a couple of weeks ago, from the budget. I won't be so generous with the cash gifts we receive because I am hoarding those to pay for our refinance costs.

OF course, money received so far:

$1000 from my mom
$ 50 Bday money
$ 110 from dh's Grandad (we used for a nice dinner out on 10-year move/house anniversary. Since it arrived that DAY - perfect timing!)
$ 250 work bonus (didn't end up getting more for *10 years.* Bummed about that, though happy to get anything. This is the money I usually give to charity. Usually $50 back to boss and $200 to charity).

In-Laws always gives us $1000. Will find out today, for sure.

The Spending??

$200 Charity
$20 to Gardener
$50 towards boss gift
$20 for in-law gifts (Grandkid photo calendars, gift cards, split 50/50 with SIL)
$ 8 Christmas plates/bowls (cute and on sale!)
$ 4 calendars (for kids)
$ 8 Almond roca for my dad
$17 toys for kids (some game? - was a July purchase)
$15 Frame/print for work gift exchange
$ 5 Gag gift for my mom
$15 Birthday Pie for me
$30 Frames/prints for our home (Bday gift to self)
$40 Dh/kids bought me some t-shirts (dh kept one too)
$20 lighted bows and flowers (for us, though may give the flowers to my mom to take home Xmas Day. Lighted bows were cute! We can re-use)
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$452 TOTAL
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Of course, with cash gifts, we come out ahead about $2000. Woohoo!

In addition to the above we did all the following for free (credit card rewards and creativity):

Nintendo DS3 for the kids
Several used video games for the kids
LOTS of free books/games for the kids (Scholastic)
Kindle for my mom
Kindle for dh's folks
Kindle Fire for us
$25 Amazon gift card for my dad's 60th B-Day
$25 Amazon gift card (x2) for teachers
$300 free books for teachers, approximately (Scholastic)

In addition, I printed out some sheet music from some of LM's favorite video games. The kids are with Grandma so I practiced them a bit to surprise him tomorrow. I thought of it because #1 - dh got some free CD of video game themes played by a Symphony - that kind of thing. LM LOVES it. & also we are trying to talk him into starting piano lessons. So, I thought maybe this would encourage him a bit. Wink But I can't wait to see his face when I play "Chocobo theme song" and "Angry Birds Theme Song." Big Grin For extra motivation I need to find some easier arrangements for BM. (To showcase what one year of piano lessons can do). I am sure I will find something - the internet is AMAZING. I couldn't believe all the free music I found. I usually pay for music. & I will be mindful to buy it if I find a good arrangement. But there is just so much free stuff being shared by people online, too. Like, their own arrangements of popular songs. WOW!

This year was certainly a unique year with so much opportunity for so much fancy free stuff!!

We probably usually spend about $500 on Xmas + $200 to charity. So, we saved about $250 this year, with credit card rewards. (Plus, were able to be extra generous).

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BTW, framed print of my dad's photo was a HUGE hit at work gift exchange. I did good! Funniest part? Boss and his wife are really into art and have ridiculously expensive frames, etc. around the office. I had to get my frames approved for my certificates for example - to hang them in my office. Um, they approved my cheap Michael frame to hang on their wall? Seriously? OF course, I am thinking GIFT idea for THEM next year. I should go buy another of these frames - if they approve. (I love how nice and sturdy and sleek they look though I paid little more than $10 for them on sale!)

I received a dainty little gold watch. I LOVE it. The funny thing is that I have been thinking I could use a watch, but haven't exactly voiced that out loud. Must be "good gift" karma!

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Merry Christmas, Happy Holidays, to everyone.

Posted in Just Thinking, Budgeting & Goals | 2 Comments »

2 Responses to “Christmas Spending ”

rob62521 Says:
December 24th, 2011 at 03:40 pm 1324741240
1324741240

Merry Christmas to you too! Glad the new shoes fit great!
baselle Says:
December 25th, 2011 at 07:24 am 1324797875
1324797875

Merry Christmas to you also! I don't usually mind self-checkout - I have good karma there and I pick the cleanest least wrinkled box (if the scanner code on the package is dirty or wrinkled scanner misbehaves) and I try to be fast.

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Monkey Mama*s Monkey Money Blog

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Christmas Spending

2 Responses to “Christmas Spending ”

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