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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

Gas/Grocery Update

November 14th, 2012 at 05:27 pm

**Our grocery store is changing around their rewards system, which is really annoying. Ch-ch-ch-changes.

BUT, they happen to be running a promo this next week where if you spend $100 you get $1/off per gallon. Dh just happened to shop yesterday (did not know about promo) and couldn't quite believe his eyes when he got the receipt.

I redeemed it today because the van was out of gas. If we can get gas in the van at same price as the gas sipper ($40 for a 350-mile trip) then we will reconsider driving the van to Southern California next weekend. Since we are vacationing with my parents and can cut down car trips. Plan A was to just be cheap and worry about ourselves. (We could all squeeze into my parents' car if we went out to dinner or something - you can only fit 4.5 people in our gas sipper - my parent have a new vehicle that might even have a middle shoulder belt).

So anyway - I paid $2.59 per gallon for gas today - 16 gallons.

The promo ends T-Day and we can't really stock up on fridge/freezer food next week with T-day at our house (we always try hard to empty the fridge on the days leading up to Turkey day). BUT dh thinks he can hit the goal with cat food, TP and such. Will see...

We still are a long way from figuring the best way to maximize new rewards (or if we should switch stores, etc.), but we keep getting random free stuff in the interim. Free loaves of bread (score!) and dh noticed that cases of bottled water were free yesterday - the kids like those for school.

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

I am considering another credit card reward. $500 in Amazon gift cards. We have kind of missed the endless supply of gift cards. I'd rather have cash, but Amazon gift cards are the next best thing. Big Grin

Actually, I am totally saturated on them - I even stocked up on household goods with prior rewards - things like that. So I am pretty much out of ideas - but I know dh will find something. It will pay for his toys and keep extra peace in our marriage. Wink

Posted in Just Thinking | 5 Comments »

5 Responses to “Gas/Grocery Update”

creditcardfree Says:
November 14th, 2012 at 06:58 pm 1352919527
1352919527

Southwest Airlines reward card? I saw that offer on My Money Blog today. I, too, am tempted!
Monkey Mama Says:
November 14th, 2012 at 07:04 pm 1352919887
1352919887

I did it already so I just need to check if it's been a year. That is the one!
LuckyRobin Says:
November 15th, 2012 at 03:38 am 1352950696
1352950696

Now I have David Bowie stuck in my head. Although, that's not a bad thing...
FrugalTexan75 Says:
November 15th, 2012 at 04:23 am 1352953406
1352953406

I saw that deal on My Money blog today too and thought about it. I'm really tempted but I don't know that I could spend $2k in 3 months. It'd be more doable than 3000 in three months but I still am too unsure if I could do it without buying things I don't need.
Looking Forward Says:
November 16th, 2012 at 02:39 am 1353033573
1353033573

That's a great savings on the gas.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Gas/Grocery Update

5 Responses to “Gas/Grocery Update”

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