<< Back to all Blogs

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

YUM!

February 9th, 2013 at 05:07 pm

Even better at home:

I picked up some mini bagels, chive cream cheese, smoked salmon, and red onions at the store. I already had capers at home.

{I looked for caper berries but could not find. We had some in Pismo at a fancy Italian restaurant. Served warm. YUM! We were like, "What is this?" I thought of it since was thinking of capers}.

So anyway, toasted the bagels and served up last night when I got home (the rest had already eaten dinner). The kids LOVED it. Dh is not a salmon fan so I told him it probably works with salami too. He thought it was okay with salami.

While at the store, BM asked for jello. He also asked for those pre-made lunches. Forget what they are called. Yuck!! I told him we could have all of the above but is far cheaper to put together ourselves. Which was why I was at the store at the first place - putting together my gourmet bagels.

So we went over to the jello mix aisle and they had jello mix on clearance for 50 cents. Score!

I spent $13 on ingredients, to recreate a "meal for one" that cost $20+. This was a meal for 4, easily. The salmon lasted 5 minutes, but plenty bagels and cream cheese and onions remain.

I was experimenting because was thinking of serving these bagels when we host the next get together. BUT, I think it is too complicated. The bagles have to be warm, and yadda yadda. I think we will come up with something much easier. & lord knows most the women would not touch the cream cheese or the bagels. But in turn, these are good foods for my "high caloric needs" children. But yeah, will work on other menu items for the party.

Posted in Just Thinking | 5 Comments »

5 Responses to “YUM!”

NJDebbie Says:
February 9th, 2013 at 05:43 pm 1360431805
1360431805

I think you are talking about Lunchables.
creditcardfree Says:
February 9th, 2013 at 05:56 pm 1360432613
1360432613

I'd eat those bagels even with the cream cheese. They do look very good. I wonder if you broiled the bagels open faced in the oven, if you could prepare faster for a group.
FrugalTexan75 Says:
February 9th, 2013 at 06:58 pm 1360436288
1360436288

This sounds almost like my fave sandwich I had when I was in college - only it was made with a croissant and veggie bacon strips (stripples.) Yum!
MonkeyMama Says:
February 9th, 2013 at 08:09 pm 1360440549
1360440549

Hmmm. Bacon... Might have to try that too!!
Looking Forward Says:
February 9th, 2013 at 09:27 pm 1360445270
1360445270

Yum indeed!

(Note: If you were logged in, we could automatically fill in these fields for you.)

Name:	*
Email:	Will not be published.
	Subscribe: Notify me of additional comments to this entry.
URL:
Verification:	* Please spell out the number 4. [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]

Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

YUM!

5 Responses to “YUM!”

Leave a Reply